Dogecoin-influenced cryptocurrencies have been some of the most important investments of 2021. With new cryptocurrencies being added every day, not all of them manage to climb up the ranks and remain demanded by investors. While meme coins may not have a long lifespan, few have solidified their place in the market the same way as Dogecoin (DOGE) or Shiba Inu (SHIB). Perhaps one that has the potential to join the ranks among DOGE and SHIB is Samoyedcoin (SAMO).
Samoyedcoin (SAMO) is slowly becoming more potent in the market as its community is growing at a large rate. But before you invest in a coin such as SAMO, you should know the fundamentals of the project.
In this article, we are going to go through the main components of the project as well as price predictions for the future of Samoyedcoin.
Samoyedcoin (SAMO) Fundamental Analysis
Samoyedcoin is a Dogecoin-influenced cryptocurrency. Similar to Dogecoin, Samoyedcoin’s face is a dog breed. The Samoyed dog breed is a Russian-originated breed (Eastern Europe), same as the co-founder of Solana, Anatoly Yakovenko. Besides that, Samoyedcoin also contains the name of Sam Bankman-Fried, the CEO of FTK and a well-respected figure on the Solana ecosystem. Samoyedcoin has brought communities together due to its name as well as its cuteness.
While it started as merely a meme coin, Samoyedcoin is now Solana’s ambassador. Being one of the few Dogecoin-like cryptocurrencies in Solana, Samoyedcoin has grown massively in recent weeks. Many perceive Samoyedcoin to be the Dogecoin of Solana.
Samoyedcoin is community-driven, and it is slowly following the footsteps of Dogecoin, but it is increasing at larger rates recently.
The native token of Samoyedcoin is SAMO. Initially founded in April of 2021, it became the first meme-influenced cryptocurrency in Solana. From the initial total supply, 14% was airdropped throughout the community members.
2.1% of that amount was burned, and another 1.4% was designated for meme contests in the Samoyedcoin community.
In May of this year, an additional 5% of the total supply was burned with the purpose of respecting Anatoly Yakovenko, one of the inspirational figures behind the project. Another 5% of the maximum supply was burned for the same reason, but in this case to honor Sam Bankman-Fried.
During the summer, the Samoyedcoin developers announced that a 54% burning plan was initiated, where 500 million SAMO tokens would be burned each month.
In the coming weeks, Samoyedcoin plans to deploy Non-Fungible Tokens (NFTs). This is planned to be done together with Solanart.
Samoyedcoin has other features that are still under development and are set to be improved in the coming weeks. One of them is Samo Tips, which aims to help users to create tipping portals in the Solana ecosystem with HTML codes that are generated automatically.
Samo Airdrop Tools is another feature that aims to help users by providing airdrop and token distribution campaigns. This is also done for the Solana ecosystem.
Last but not least, Samoyedcoin has its own Decentralized Exchange, the Samo DEX. This helps users to easily and directly trade SAMO tokens with other Solana-based tokens
Now, let’s look at the tokenomics of Samoyedcoin.
The maximum supply of Samoyedcoin is 14 billion SAMO. Since 2.1% were burned initially, another 64% were set to be burnt on other occasions (3 events).
The circulating supply of Samoyedcoin is 2.73 billion SAMO, where 14.4% was given through airdrops and 5.6% were released slowly and automatically. Another 10% is set to be used for marketing and development purposes, and 3.9% is distributed to the Samoyedcoin team.
Samoyedcoin (SAMO) Price Analysis
According to CoinMarketCap, Samoyedcoin started its journey at around $0.02. After that, the price went further down, and it averaged $0.002 in the following months.
In October, the price of SAMO started to slowly increase and got above the initial starting price for the first time in Samoyedcoin’s history. After that, the price started surging upward at huge rates as the hype for meme coins intensified. SAMO reached an all-time high of $0.24 by the end of October. This marked an increase of around 4,700% in less than a month, generating huge profits for traders.
After that, the price had a huge dip and dropped to around $0.07. Nonetheless, the price has increased again and reached as high as $0.21 once again. Currently, SAMO is trading at around $0.18.
Rank:
With this price and a circulating supply of 2.73 billion SAMO, the market capitalization of Samoyedcoin is around $500 million. This places Samoyedcoin at number 242 in the crypto market rankings, which is quite promising for a project such as Samoyedcoin. The fully diluted market capitalization of Samoyedcoin is around $1.8 billion.
Samoyedcoin (SAMO) Market Price Prediction
As Samoyedcoin is yet to achieve its full potential, many experts forecast that SAMO can increase at large rates in the future. Here is what some of them think about the future price of SAMO.
Wallet Investor forecasts that SAMO can reach a new all-time high soon. If not in December of this year, then SAMO could reach a new all-time high in the early months of 2022. They see SAMO reaching as high as $0.35 in 2022. As for the longer run, they predict that SAMO can increase by more than 350% from its current price, and it may approach $0.90.
Samoyedcoin (SAMO) price growth prediction for the next 5 years. Source: Wallet Investor
Similar to Wallet Investor, Digital Coin Price also predicts that SAMO can grow in the long run, surpassing $0.80. With such a price and the circulating supply increasing, SAMO could easily climb the top 50 market rankings.
Coin Data Flow also predicts that Samoyedcoin can increase in the future. They suggest that the future price of SAMO primarily depends on Bitcoin’s price movement. Judging by the average BTC growth per year, SAMO could reach as high as $30 if it has 100% of that average growth. However, that is less certain than with 20% of Bitcoin’s growth. With such a growth, SAMO could reach more than $1 by 2025.
Coinskid is also bullish on Samoyedcoin. They forecast that SAMO can reach as high as $0.40 by the end of 2022. As for the next five years, they forecast that SAMO can reach close to $3.
Priceprediction.net forecasts that SAMO can only hit $1 by 2026. Nonetheless, they predict that SAMO has the potential to reach $6 by 2030.
YouTuber Tactical Investing gives an in-depth analysis of Samoyedcoin and how promising it is. He suggests that Somayed could be the next Shiba Inu but on the Solana ecosystem. Judging by this, SAMO could reach the top 50 rankings soon. While a precise prediction is not given, Tactical Investing suggests that SAMO has the potential to surpass $1 and traders may even push its price up to $10 in the long run.
https://www.youtube.com/watch?v=8py2et-58Lc
Professor Finance, another credible analyst on YouTube, predicts that SAMO could increase at large rates in the coming weeks. He suggests that Samoyedcoin’s community is very supportive, and this could lead to SAMO surging upwards even more. A price of $1 is attainable based on this analysis.
https://www.youtube.com/watch?v=aKdjWkzA4Cg
Crypto Academy Samoyedcoin Price Prediction
Since Samoyedcoin is one of the most promising meme-based cryptocurrencies in the market, and it still has a low market cap when compared to the likes of SHIB or DOGE, we at Crypto Academy predict that the price of SAMO could surge upward in both the short run and the long one.
Samoyedcoin (SAMO) Price Prediction 2022
By the end of 2021, a price of $0.30 could be reached by SAMO as the hype for meme coins continues. As for 2022, we could see SAMO maintain its bullish nature and reach as high as $0.50 in the first quarter of the year.
Samoyedcoin (SAMO) Price Prediction 2023
By 2023, Samoyedcoin may have successfully implemented its projects displayed on the roadmap. Because of that, we could see SAMO reach a price of $1 at some point in the middle of the year.
Samoyedcoin (SAMO) Price Prediction 2024
In 2024, the price of SAMO could initially decline below $0.30. However, the Bitcoin halving event is planned to occur in that year. Because of that, we could see a bullish trend start by the end of the year. SAMO could reach $1.50 by December.
Samoyedcoin (SAMO) Price Prediction 2025
In the early months of 2025, SAMO could continue its journey in a bullish manner. The price of SAMO could surpass $3 and place Samoyedcoin even higher in the crypto market rankings based on market capitalization.
Samoyedcoin (SAMO) Price Prediction 2026
Last but not least, Samoyecoin could eventually emerge in the top 15 market rankings. The price of SAMO could reach as high as $5 at some point in 2026, making it a historical milestone for all SAMO hodlers in the Samoyedcoin community.
How to Buy Samoyedcoin (SAMO)?
Step 1: Create an Exchange Account
First, you need to open an account in exchanges that have listed Samoyedcoin, such as OKEx, Gate.io, BitTrue, etc. After you create an account, you need to verify it to ensure security on the exchange.
Step 2: Fund Your Account
Then, you need to transfer funds to your exchange account. If you do not have a wallet that can be used to transfer funds, you can fund it using a debit or credit card.
Step 3: Buy SAMO
Once you fund your account, you can start trading. Select SAMO and enter the amount of SAMO you want to buy depending on your funds. Then, all you have to do is click “BUY.”
You can also buy SAMO using decentralized exchanges. Transfer SOL tokens to a Solana-based wallet such as Phantom. Once you do that, connect your Phantom wallet to a DEX such as Orca, Raydium, or Step. Then, select SAMO and enter the amount of SAMO you want to buy with your SOL tokens. Keep in mind that you also need to pay for gas fees, so keep more SOL just in case. All you have to do then is click “SWAP.”
Frequently Asked Questions (FAQ)
Can Samoyedcoin hit $1?
Yes, the price of Samoyedcoin can hit $1 as the project is yet to reach its full potential and its market cap is relatively low when compared to the likes of Dogecoin and Shiba Inu.
Will the price of SAMO increase?
Many experts suggest that the price of SAMO can increase in the future as Samoyedcoin has one of the best crypto communities in the world. They are all supportive and friendly, and they can easily push the price of SAMO upward in the future.
Where can I buy Samoyedcoin?
To buy SAMO, you can use centralized exchanges that have listed Samoyedcoin such as Gate.io, BitTrue, OKEx, etc. If you want to use a decentralized exchange, you should transfer SOL to your Phantom wallet and connect the wallet with a DEX such as Orca. There, you can easily swap your SOL tokens with SAMO tokens.
Also read: Dogecoin Price Prediction 2022 – What Will the Dogecoin Price be in 2022 and in Next Years to Come?
Takeaways
- Samoyedcoin (SAMO) started as a meme coin and is now one of the most promising projects in the market.
- Its name was inspired by Anatoly Yakovenko (co-founder of Solana), Sam Bankman-Fried, and Dogecoin. Samoyed is a dog breed in Eastern Europe.
- Samoyed has one of the friendliest communities among crypto communities.
- It is currently working on providing NFTs together with Solanart.
- SAMO has recently hit an all-time high at $0.24.
- Experts predict that the price of SAMO could increase at large rates in the future.
- To buy SAMO, you need to use a centralized exchange such as OKEx or Gate.io, but you can also use a decentralized exchange by connecting it with a Solana-based wallet.