Will SafeMoon reach 1 cent? That’s the question most investors are asking despite its recent price boom and surging popularity recently.
SafeMoon is currently trading at $0.000002353, representing a 1000x increase in price since its initial release in March 2021.
Even with its low cost per coin and potential for exponential growth, SafeMoon is one of the most popular cryptocurrencies for small investors to buy.
What is SafeMoon?
SafeMoon is a DeFi (Decentralized Finance) token built on the BSC (Binance Smart Chain) that has over 2.6 million global holders and a daily volume of $13 million.
It was launched on March 10th, 2021, on the Binance Smart Chain (BSC) network, with 777 trillion tokens at a unit price of $0.0000000010.
SafeMoon’s initial goal was to “moon” and generate huge and early returns on investments (ROI) for investors, which coincided with its name and slogan “safely to the moon.”
$SAFEMOON reached an all-time high of $0.00001399 in its first 40 days of trading, equivalent to a 13,990% return for early investors.
As of April 20, 2021, a $100 investment made on the debut day would have yielded a return of $1.39 million. Well, it reached the moon, and gravity kicked in, causing the price to fall to $0.00000421 in within 48 hours.
The project’s team announced an upgrade and the introduction of SafeMoon V2 ($SFM) in December 2021, with a total supply of 1 trillion tokens. Existing holders of $SAFEMOON tokens were able to convert them to $SFM at a 1000:1 consolidated ratio.
$SFM began trading on December 16th, 2021, at a price of $0.0017, whereas $SAFEMOON continued to trade at $0.0000017.
Regardless of the fact that the SafeMoon team switched its CoinMarketCap contract address to Safemoon V2, both tokens still exist.
Nonetheless, the focus of this SafeMoon price forecast is on $SFM and what the future holds for it.
How Much is Safemoon?
The question of how much SafeMoon is worth is common among enthusiasts. SafeMoon V2, $SFM, is now available for $0.0009894.
$SFM lost momentum and followed a downward trend after reaching an all-time high of $0.003145 on January 4th, 2022, losing 317 % of its value.
Notwithstanding, it has a market capitalization of $567 million and a 24-hour trading volume of $4.6 million.
Will SafeMoon Reach 1 Cent?
Even when you consider the altcoin’s 5% per-transaction burn rate, upcoming bull rallies, and even the ever-growing community support, the chances of SafeMoon ever reaching $1 are slim. It’s easy to see why, especially when you consider the total coin supply.
For instance, there are over 585.536 trillion SAFEMOON tokens in circulation today.
A $1 per-token valuation would bloat the SafeMoon market cap to more than $585.536 Trillion, more than 200X the current total crypto industry market cap – which is impossible to achieve.
Furthermore, unlike most other cryptocurrencies such as Bitcoin and Ethereum, which have practical uses, SafeMoon is simply a speculative currency. This means that, while there is a significant buying force behind the altcoin, it cannot be relied on to help boost the meme currency’s value closer to $1.
Simply put, it will take a while for SafeMoon prices to reach $1.
SafeMoon Price Prediction: Buy, Sell or Hold?
As of May 11th, algorithm-based forecasting service Wallet Investor gave SafeMoon a negative outlook, rating it as a bad long-term (one-year) investment.
Wallet Investor predicted that the SFM price would fall to $0.00003 by May 2023, before becoming effectively worthless later that year, based on historical data.
The bullish SafeMoon prediction was supported by the DigitalCoin Price.
It predicted that the value of the SFM coin will rise to $0.0005 in 2022, $0.0006 in 2023, $0.0006 in 2024, $0.0008 in 2025, and $0.0012 in 2028. The SFM crypto price prediction for 2030 by DigitalCoinPrice suggested it could be worth $0.0018.
While Price Prediction’s SafeMoon coin price prediction was a little more bullish. It predicted a $0.001 average price in 2022, increasing to $0.004 in 2025. It predicted a price of $0.029% in 2030.
Please keep in mind that SFM predictions are prone to uncertainty. Forecasts should never be used in place of your own research. Before you invest, make sure you do your homework.
Is Safemoon the Best Option?
If you plan on keeping SafeMoon for a long time, it could be an excellent investment.
The 10% tax provides some unique investment opportunities, as well as the potential for the coin’s value to naturally increase over time.
While you could try to flip SafeMoon if its price increases, you should keep in mind that the act of buying and selling would tax you 10% twice, resulting in a tax of 20% of your coins.
Investing in this centralized crypto has a number of advantages, including the ability to get in on the ground floor and perhaps earn higher returns down the road.
Currently, the coins have no purpose other than to be held in one’s hands to see what happens.
SafeMoon embraced its status as the new rave. The coin has shown resilience in the face of the bearish run, despite the fact that market sentiment is no longer favorable as it was when it began in March 2021.
Our SafeMoon price prediction takes into account a number of criteria and places the token as one of many crypto projects with the potential to the moon when the next bull run comes.
It’s tough to determine whether or not SafeMoon will reach 1 cent in near future.
Frequently Asked Questions
Is SafeMoon Legit?
Based on a mathematical and scientific blockchain algorithm, it is highly unlikely that SafeMoon’s wallet gets hacked.
As owners of SafeMoon, you are anyway masters of your wallet, and hence safekeeping thereof falls in your periphery of accountability.
Is SafeMoon on Binance?
Currently, SafeMoon is not on Binance. This could change in the future, but there are no immediate plans in the works.
What’s Safemoon’s Market Cap?
Market Cap: $1,380,309,445 (08.26.21). Fully Diluted Market Cap: $2,293,435,772 (08.26.21)
How Much Safemoon Can I Buy With 100 dollars?
With a current price of $0.000002353 you can buy 42.5 million tokens for 100 dollars
Can I Make Money With SafeMoon?
Yes, but you need to constantly track the price of SafeMoon and do your due diligence on the price forecast for profit. Keep reading price predictions and check the future price of SafeMoon constantly.
Does Safemoon Have a Future?
The future is uncertain, given the bearish trend in the crypto market.
Can Safemoon Go to $1?
No, it does not have the potential to reach one dollar in the near short-term or medium-term.
What Will be the Price of SafeMoon in 2022?
With the market down right now, the prediction of Safemoon price still stands at $0.10.
Should I Invest in Safemoon?
Safemoon is a cryptocurrency that was created to encourage long-term investment while discouraging selling, however, it is a tremendously volatile asset that also has a number many risks.
So investing might be a good option.