BEST CRYPTO EXCHANGES
Every day, more cryptocurrencies are entered into the market, and each one has a slightly different model to appeal to investors.
We think that one of the most appealing cryptocurrencies that has been launched this year is Safemoon, which we believe is about to take the cryptocurrency world by storm.
In this article, we’re going to talk about our price prediction around Safemoon in great detail and we’re going to talk about what it is and how it works before we discuss the best place for you to invest in the cryptocurrency right now, and the best part is that there is no minimum deposit.
Safemoon Price Prediction 2023 and 2023
Because Safemoon is so new to the cryptocurrency market, our stock forecast is pretty speculative.
However, there are some important pieces of information that we can put into our analysis that can hopefully arrive at some logical predictions.
With this in mind, let’s check out what we believe to be a pretty robust prediction for Safemoon around 2023 in the next few months.
- One month: Currently, Safemoon’s value is pretty low, at just $0.00000141. However, if things were to pick up with the cryptocurrency, we believe that the price could reach a resistance level of $0.00000333 over the next month.
- Three months: It is still pretty difficult to invest in Safemoon, which means that obtaining the liquidity for high prices is still challenging. However, we believe that Safemoon could head upwards of the $0.00000500 level over the following three months.
- Beginning of 2023: If Safemoon developers are going to keep their promises, then there is going to be a bit of hype around this cryptocurrency. This means that Safemoon could end up getting to the $0.00000600 level by the start of 2022.
The Story of Safemoon So Far
When you have a brand-new cryptocurrency in the market, there usually isn’t a lot of information around who is behind the development, and what they do.
Therefore, most investors end up needing to read between the lines to work out whether the cryptocurrency is a worthwhile investment or not.
With this in mind let’s take a look at what Safemoon is, and its price history.
Safemoon is a cryptocurrency coin that was launched in March of 2021. It has been hosted on the Binance Smart Chain, which is a blockchain developed by Binance. It operates parallel to the traditional Binance Chain.
The biggest difference between the two is that the smart chain has smart contract functionality, which means that there is lots of opportunities for decentralized applications to be developed.
Safemoon offers a unique way of being able to invest in cryptocurrency because people that hold Safemoon and then end up selling it are subject to a 10% fee. This fee is halved and 5% of it is given back to Safemoon holders, which is often called a reflection.
The additional 5% is split in half again, and 2.5% is used within liquidity pools, while the other 2.5% is converted into BNB. This type of approach is designed to increase the scarcity of a coin, so that it pushes the value higher.
Initially, when Safemoon first launched, there was a supply of 1 quadrillion tokens, so the development team had to burn over 200 trillion of these straight away.
So far, more than 400 trillion coins have been destroyed, and this figure is continuing to go up as the days go by.
One thing to think about with the Safemoon cryptocurrency is that the developers haven’t applied any real-world use cases yet.
Back in May, celebrities hyped up the cryptocurrency, which caused retail investors to jump on the trend and push the value higher.
Following this so, the value fell dramatically, which led many to believe that Safemoon was a pump and dump scheme designed to make specific investors rich.
Of course, there is no way of knowing whether this is true or not until more time has passed, but right now, Safemoon seems to be trading quite close to where it was back in April 2021, right before it increased in value exponentially.
Since its high of $0.00001094, It has dropped in value by more than 87%. The trading volume is really low, meaning that not that much Safemoon is being traded right now.
We also strongly recommend that you make sure that you do your own research if you are wanting to invest in a cryptocurrency like Safemoon.
Typical investment advice is going to determine which cryptocurrencies perform the best over the long term, and a big factor in this is whether they have a real-world application. Right now, Safemoon doesn’t seem to have this.
Of course, developers might come along and improve the protocol and create some value when it comes to use cases, but there is also the chance that this coin could be nothing more than a meme coin.
Price Forecast of Safemoon
The decision to purchase cryptocurrency should always be done with the long-term in mind because cryptocurrency pricing can be extremely volatile.
Safemoon is no exception to this, and as you can see, even though it has only been around for a short amount of time, its value has already swung up and down violently.
To get a better idea of Safemoon’s outlook, let’s take a look at some fundamental and technical factors that might shape the price in the future.
Technical Analysis
The first thing to think about with Safemoon is that it isn’t currently listed on major cryptocurrency exchanges including Coinbase.
As a result, the amount of liquidity is low which means that technical analysis isn’t as accurate as cryptocurrency that has high liquidity.
The fact that Safemoon has low liquidity means that when people buy a large amount of the coin, this increases its value significantly, which in turn leads more people to buy into the hype.
As of November 2021, Safemoon’s value is around $0.0000014, which means that you can see how cheap this cryptocurrency is compared to others.
Pricing is slowly turning bearish, with the last sharp increase occurring in August. As a result, it is difficult to make accurate predictions about the future of the token’s price.
In saying this though, the price is pretty much the same level as it was back in April, which means that if you chose to invest in Safemoon right now, it would be a decent value to purchase.
This seems to be a minor support level around this level where the price currently sets, which means that it is an optimal time to purchase it.
This session might not hold, so you need to consider the risks before you put your money in.
Fundamental Analysis
This is another really important component when you are choosing to invest in cryptocurrency, because it can help you work out whether a coin is undervalued or overvalued.
As far as Safemoon is concerned, the work that we have done behind our price predictions discovered that the market cap is only at $799 million right now, which is really small for a cryptocurrency and also means that Safemoon isn’t even in the top 200 biggest cryptocurrencies in the world.
You might see this as a disadvantage, but it might actually mean that Safemoon could show some exponential growth in the future, which means that any investments that you make currently are going to be at the ground level.
Also, most of the attention around Safemoon right now is negative, because a lot of cryptocurrency market commentators are saying that the coin doesn’t have any real-world use except to make the development team rich.
If this were the case, and Safemoon was to increase in value dramatically before an instant fall, it would still be a good investment for speculative investors.
For example, if you invested in it right now, and it returned to the all-time high that it experienced in April, then you would get a 921% return on your investment.
Long-Term Outlook and Safemoon Price Prediction 2025
Now that you’ve got a good grasp on what Safemoon is and its background, we can take a look at the long-term outlook of the coin’s growth.
Most crypto investors that are just starting out building their portfolio simply purchase Bitcoin, or Ethereum, but investing in smaller coins a lot of the time can be a good option, especially if you are looking for a quick return.
However, this being said, these options tend to be a lot riskier, so you have to weigh this up against your risk tolerance.
One of the most appealing things about Safemoon is that it rewards individuals who keep hold of the coin by redistributing funds that the token gets from the people who sell it.
Also, Safemoon has just released its own wallet on Google Play. Many investors see this as a sign that the company is in the growth phase.
So, taking everything into consideration, we are pretty optimistic about our price prediction around Safemoon for 2025.
No, there are no real-world practicalities around this cryptocurrency right now, which means that it is highly likely to put off investors from investing big amounts of their capital into the venture.
For this reason, we believe it could reach $0.00025 by 2025. When thinking about how much Safemoon might be valued at in 2030, we have similar predictions.
At this point, we think that the development team is going to understand that it needs to figure out how Safemoon can be applied to the real world, and as a result, they would have probably developed their own decentralized app, or blockchain.
With this in mind, we think that it could get up to $0.00040 by 2030.
Price Chart of Safemoon
Normally, when you buy cryptocurrency or stocks, the price chart is a really helpful tool when it comes to your analysis.
However, the fact that Safemoon has a short price history and low liquidity means that the price chart doesn’t indicate too much about its history as it would with other cryptocurrencies.
The huge increases in value in April and May having followed by a sustained decline has led to its current value.
The most important thing to look out for on the price chart is for Safemoon to be added as a tradeable asset by a major crypto exchange, or a broker.
There are lots of trading platforms out there that let their users request assets to be added to their platform, so if a request gains enough traction, the platform might look into its viability, and then decide whether they should add it or not.
Safemoon investing is going to be a lot more accessible should this happen, which is going to lead to more accurate data around the value of the coin.
Of course, only time can tell whether this is going to happen, so we recommend that you keep an eye out.
Where to Invest in Safemoon
So, before we wrap up this discussion around Safemoon, we are going to recommend to you what we believe to be the best cryptocurrency exchange right now to be investing in Safemoon.
You might have already realized that there aren’t too many brokers and exchanges out there that currently hold Safemoon as a trading option, because the crypto currency is still so small.
Additionally, the current process to investing in Safemoon involves having to take your funds from a TrustWallet to Pancake Swap, and then transferring them into Safemoon.
This process is going to be difficult to follow if you are a beginner investor, so we suggest that it’s probably better to wait until Safemoon is added to a licensed and reliable broker.
However, if you plan on investing in other cryptocurrencies right now, then we highly recommend that you use Binance.
One of the things that we love about these guys the most is that they have no minimum deposit, which means that you can get started trading right away, and you don’t have to have a large amount of cash to do so.
Another thing that we love is that they provide their clients with a mobile app, meaning that you can take them wherever you go, and check in on your trades on a regular basis.
Final Thoughts
So, to conclude, we have covered our predictions for Safemoon going forward, and we have also talked about the history behind this cryptocurrency, and how current investors see it.
As you can imagine, the fact that Safemoon is so small, compared to the media attention that it has received means that many retail investors think that it could reach exponential heights when it comes to its value.
Of course, there is every possibility that this could be true, but there is a big issue in the fact that Safemoon currently doesn’t have any real-world practicality.
However, if they make changes to the application, we believe that there could be some significant growth in the months and years ahead.
If you want to get started with your cryptocurrency trading right now, then we highly recommend that you go for Binance. Remember, you can take them on the go with you – wherever you go!
FAQs
What Is the Price of Safemoon Right Now?
The current price of Safemoon in November 2021 is $0.0000014. This means that it has decreased in value by 90% since its height in April 2021.
What Factors Drive the Value of Safemoon?
One of the biggest factors so far that has driven the value of Safemoon has been celebrity endorsements. Celebrities including Keemstar and Afrojack have been quick to sing its praises.
Where Can I Buy Safemoon?
If you want to purchase Safemoon, you have to add Binance Coin to your TrustWallet, and then transfer this to PancakeSwap, where you can then purchase Safemoon.
This is a pretty complicated process, which is why a lot of people choose to invest in other cryptos right now.
Why Is Safemoon Decreasing?
The Safemoon team made a lot of promises that they haven’t delivered on.
The price decreases could be for a number of reasons, but we think that there is a chance that it is because investors are holding onto their coins and decreasing the price this way.
What Will Safemoon Be Worth in 2023?
$0.0000060.
What Will Safemoon Be Worth in 2025?
$0.000025 – this is if the developers can improve it’s real-world abilities.
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Written by Jason Wise
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