Update – November 25, 2021: Safemoon remains one of the cryptocurrencies that could increase in price in the upcoming weeks of 2021.
It usually takes quite some time for a cryptocurrency to experience huge increases in its price. This has been the case with the majority of cryptocurrencies, which usually have a lower starting price and gradually increase over time. On the other hand, some cryptocurrencies have managed to increase in price at a bigger amount and at a much shorter time. Because this unprecedented increase is unusual, some people view such cryptocurrencies as pump-and-dumps, pyramid or Ponzi schemes, or any other form of scam. Nonetheless, this has not been the case with SafeMoon, a cryptocurrency that is still in its early phases, but which has managed to have soaring increases in its price.
SafeMoon has managed to make a lot of investors rich overnight. While a lot of things are yet unclear about SafeMoon, you must know some of its features to understand if you should invest in this cryptocurrency or not. Let’s briefly look at the main components of SafeMoon.
What is SafeMoon?
The name SafeMoon likely refers to the crypto trend of saying that a cryptocurrency can go ‘to the moon’ when referring to its bullish tendencies. So SafeMoon introduced itself as a cryptocurrency that can go ‘safely’ to the moon. It was launched in March of 2021, so it is still a project under development.
The head of the SafeMoon team is the CEO John Karony, who used to work for the US Department of Defense. Other members of the team are Thomas Smith, Jack Haines, Ben Philips, etc. All of them were previously involved with blockchain-based projects. Judging by the expertise within the team, SafeMoon seems credible enough.
The SafeMoon team promotes swing trading more than they do day trading. The fewer day traders, the lower the volatility of the currency. In order to do this, SafeMoon employs a 10% tax for traders who sell their cryptocurrencies fast and do not hold (HODL) them. This method is likely to make traders reluctant from selling their SafeMoon. Furthermore, half of the taxed amount is fairly distributed to all the SafeMoon holders as an incentive to keep holding the tokens. This process is known as the RFI Static rewards. Such a process is what distinguishes SafeMoon from other cryptocurrencies. The other half of that 10% is also divided into two parts. The first part is sold into BNB, and the other part is staked in Pancake Swap.
Another function of SafeMoon is the burning strategy. SafeMoon tokens are burned manually so that SafeMoon holders benefit in the long term. Additionally, SafeMoon’s large supply entails inflationary features. Burning some of those tokens might have a positive effect on the future price of SafeMoon. All the tokens in the developer’s wallet have been burned before SafeMoon was launched. This was done to ensure more safety and stability of the currency. The SafeMoon whitepaper tells us that the reason why burning is done manually and not automatically like other cryptocurrencies is because it is better for the rewarding process to the SafeMoon holders. Moreover, continuous burns are not very efficient in the long term.
Lastly, another distinctive feature of SafeMoon is the LP acquisition process. LP is locked for four years, where each trade brings 2.5% fees into Pancake Swap (as mentioned above); they are staked to ensure better liquidity. The LP acquisition and 10% tax on trades make it less possible for SafeMoon to have huge price dips in the long run.
What about the tokenomics of the SafeMoon token? The total supply of SafeMoon is 1 Quadrillion. The burned tokens on the Dev Wallet were around 223 Trillion. So the fair launch supply was 777 Trillion SAFEMOON tokens. The current circulating supply of SafeMoon is around 585 Trillion SAFEMOON tokens.
Let’s take a look at the price history of SafeMoon so far.
Due to its large supply and unclear nature, SafeMoon started its journey at a very low price in March of 2021. Despite that, SafeMoon joined the bullish trend of 2021 and went as high as $0.00001 on April 20 of 2021. That marked a 1200% price increase within four days. A lot of people took advantage of this price increase and sold their SafeMoon tokens after that, causing the price to decrease again in the following days. As of June 11 of 2021, the price of SafeMoon averages $0.000004.
With this average price and with a circulating supply of 585 Trillion, the market cap of SafeMoon is around $2.1 Billion. This ranks SafeMoon at number 203 in the crypto market. The fully diluted market cap of SafeMoon is around $3.7 Billion.
Since SafeMoon is a relatively new cryptocurrency, it is not yet available in big cryptocurrency exchanges. The best way to purchase SafeMoon tokens is by using Pancake Swap DApp. You need to have BNB tokens in order to purchase SafeMoon tokens. To buy BNB, you can use cryptocurrency exchanges such as Binance. Moreover, it is essential that you own a little more BNB tokens than you anticipate spending on SafeMoon tokens because there might be gas fees. While it may seem a little complicated to buy SafeMoon tokens, once you get used to it, it is actually very simple. Moreover, the SafeMoon team is working on adding SafeMoon tokens in major cryptocurrency exchanges.
In terms of storing your SafeMoon tokens, you can use wallets that support the Binance Smart Chain (BSC) tokens since SafeMoon is a project within BSC. The most widely used wallet for SafeMoon is Trust Wallet.
SafeMoon Price Prediction 2021
What makes SafeMoon the investment it is today is the rewards that it gives to the holders by not having them do anything besides holding. In the near future, this may easily attract new investors that do not intend to day trade because of the penalty tax, which may very likely cause an increase in the price of SafeMoon. Judging by this, SafeMoon can exceed its highest of all time and go up to $0.00005 in 2021.
WalletInvestor also predicts that the price of SafeMoon is likely to exceed its record, and it may even go 2x that record up to $0.000025.
SafeMoon Price Prediction 2022
As for 2022, SafeMoon is likely to be added to other cryptocurrency exchanges by then. This can make the purchase of SafeMoon tokens much easier and accessible to everyone. If the SafeMoon team activity continues at this rate, so can the price of SafeMoon. It is very likely that by 2022, the price of SafeMoon can reach $0.0001 or even go beyond that amount.
WalletInvestor also predicts SafeMoon to keep increasing in 2022, as the price may reach close to $0.00006. That is almost 3x their projected price of SafeMoon for 2021.
SafeMoon Price Prediction For The Next 5 Years
To understand such predictions, you should know some of the price factors of SafeMoon. The SafeMoon team plans to manually burn even more SafeMoon tokens in the long run. A reduced supply may cause a slight increase in the price of SafeMoon. Moreover, it is also possible that the SafeMoon team changes the rewarding format of SafeMoon. Perhaps the team might increase the penalty tax of SafeMoon traders so that even more investors are ‘pushed’ to hold SafeMoon tokens while at the same time earn from the taxes of others who decide to trade.
There are also many other projects that the SafeMoon developers are currently working on. Besides working on being added to big cryptocurrency exchanges, they are also working on the SafeMoon Exchange, which is planned to be adequate for SafeMoon tokens. Not only this, but the developers are also working on a SafeMoon Wallet, which is designated for SafeMoon tokens.
There are also plans to integrate SafeMoon into decentralized games within the Binance Smart Chain (BSC). This may also involve its integration into the NFT industry. SafeMoon also is expected to have its own crypto educational application. Not only that this plans to help students in learning, but it may also offer a funding pool for providing scholarships to many students worldwide.
All these updates suggest only one thing on the price of SafeMoon: the price might go “to the moon” in the long run. Based on all the factors mentioned above, SafeMoon can reach $0.01 in the next 5 years, but not limited to. If the manual burning strategy sees the supply of SafeMoon be less than it is anticipated in the long run, the price might even go to $0.10.
SafeMoon Price Market Prediction
WalletInvestor predicts that SafeMoon can reach $0.0001 for the first time in 2024. In 2025, the highest price predicted for SafeMoon by them is around $0.00015.
YouTuber Matt Brighton predicts that the price of SafeMoon can be around $0.001 by 2026, as he predicts that the circulating supply might be around 350 Trillion.
Another YouTuber named Conor Kenny gives a careful analysis on SafeMoon and suggests that SafeMoon supply needs to be decreased if the price wants to increase. Due to the manual burnings, he also forecasts that SafeMoon can eventually reach $0.01 in the long run.
Our Price Prediction
We at Crypto Academy forecast that SafeMoon price in 2021 can potentially reach 0.001. As for the long run, after looking at several price factors of SafeMoon and what makes it the cryptocurrency it is today, the price might exceed $0.01 in the next 5 years.
Frequently Asked Questions (FAQ)
Should I invest in SafeMoon?
Since SafeMoon plans to make so many updates that can make SafeMoon an even greater asset, its price is predicted to increase. Moreover, holding SafeMoon tokens results in passive income as the network rewards you from the tax fees of each transaction. Judging by these two factors, SafeMoon is a good investment.
Can SafeMoon reach $0.1?
While it may seem unlikely now for SafeMoon to reach $0.1, it is still technically possible. Depending on the manual burning strategy of the SafeMoon developers, its supply can decrease. As new updates are planned to be added to this relatively new cryptocurrency, the demand for SafeMoon tokens can increase. Since the demand can increase and the supply can decrease, the price of SafeMoon is very likely to grow in the long run. Possibly it can also reach $0.1.
How to buy SafeMoon?
To buy SafeMoon, you initially need to purchase BNB tokens in Binance. After doing so, you can go to Pancake Swap and link your wallet with the DApp. Once you do so, you can select SafeMoon tokens and purchase them with your BNB tokens.
Is SafeMoon legitimate?
Many people perceived SafeMoon as a scam at first because too little was known about the project. Some thought it was a pump-and-dump, while others thought of SafeMoon as a pyramid scheme. However, the SafeMoon team has now established credibility among crypto communities, making it less likely to ever be linked with any scam whatsoever. So SafeMoon is legit.
Is SafeMoon a Dogecoin Killer?
SafeMoon is heavily linked with the meme-influenced cryptocurrency known as Dogecoin (DOGE). After the success of Dogecoin, many other projects were launched that resembled the concept of Dogecoin. Some believed that even SafeMoon was influenced by memes and Dogecoin itself. As SafeMoon has been slowly climbing the ranks in the crypto market, a lot of people believe that it can surpass Dogecoin one day. At the time of writing this, Dogecoin has a market cap of $40 Billion. It might take quite some time until SafeMoon can “kill” Dogecoin. Even so, it is entirely possible.
- SafeMoon is a legitimate DeFi token and had a huge price increase when it was launched.
- The main goal of SafeMoon is to solve volatility issues.
- To do that, SafeMoon employs a tax fee for every SafeMoon transaction.
- Part of this tax rate goes to the SafeMoon holders (HODLERS).
- SafeMoon is predicted to increase in the future.
- To buy SafeMoon, you can use Pancake Swap DApp.
- Overall, SafeMoon might be a good investment since it is also at a very low price.