This is a detailed article explaining SafeMoon history and its ups and downs. Get a complete analysis of SafeMoon price prediction to decide when is the right time to buy it.
Last year, crypto traders were constantly on the lookout because SafeMoon was one of the most talked about crypto that year. The project even managed to get free hype thanks to likes from rapper Lil Yachty and YouTuber Jake Paul. This helped to quickly raise the cost of SafeMoon, although, at the time of writing, its price had fallen by almost 90% from its peak value.
Will it recover and reach 1 cent? The Safemoon price prediction will tell us!
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Brief SafeMoon Overview
SafeMoon is a DeFi protocol on the Binance Smart Chain blockchain. It is claimed as a solution to the problems faced by liquidity providers in decentralized finance protocols — intermittent losses and crowding out new investors by earlier ones. The concept of “reflection” used by Safemoon implies static rewards that mitigate most of these shortcomings.
In turn, SAFEMOON (later SFM) is a BEP-20 token, the native currency of the protocol. It serves as a reward for liquidity deliveries. The max supply of SFM V2 is 1,000,000,000,000.
Despite the obvious benefits this product can bring to the industry, SafeMoon has been repeatedly accused of being a Ponzi scheme. The reason was excessive volatility. Of course, volatility is typical for the entire crypto market, but the ups and downs of the SAFEMOON token price still stood out against its background (for example, in April 2021, the rate soared by more than 20,000% and then fell).
Therefore, many called the project a Ponzi scheme, and sometimes a Shitcoin or just a scam. SafeMoon has been compared to BitConnect, a well-known Ponzi scheme that was shut down in 2018.
Safemoon Historical Price Analysis
When the coin appeared on the market, it was traded to DogeCoin on the Bibipom crypto exchange.
On March 10, 2021, Safemoon was trading at $0.00000001. On April 20, at the peak, the price of the token reached $0.00001375.
Later, in December 2021, the founders upgraded the project, which is now called Safemoon V2. Also, they changed the token’s ticker to SFM.
SFM started its journey on December 16 at $0.0017. After several days of sideways movement, the price jumped sharply at the end of December to $0.0029.
The highest rate of SFM was recorded on January 04, 2022 — $0.007232. Now the price is down 96% ($0.0002751).
As you can see, the chart of the token is extremely volatile. Moreover, no one knows the exact market cap of the project. Here is what Coinmarket cap says: “The CMC team did not check the market capitalization of the project. However, according to the project, its self-reported CS is 561,054,391,651 SFM with a self-reported market cap of $153,307,517.”
Safemoon Price Prediction 2023-2027
Foretelling the future token price is a daunting task. Hence, we offer you an outlook on some experts’ opinions (the same as we did with OXT price prediction).
So, the algorithmic service Wallet Investor gave a negative picture, evaluating the coin as a bad long-term investment. Based on the available data, Wallet Investor thinks the SFM price will fall to $0.00005 by February 2023. The service then expects the cost to drop to near zero within a year.
DigitalCoin Price, in turn, gave a bullish forecast. The service expects Safemoon to grow:
- $0.0013 in 2024;
- $0.0015 in 2024;
- $0.0015 in 2025;
- $0.0019 in 2026;
- $0.0033 in 2028.
By 2030, according to the DigitalCoin forecast, the price of Safemoon could reach $0.0046.
Does SafeMoon Have a Future?
SafeMoon is a rather risky investment. However, the same can be said about many other digital assets. After all, who forbids us from speculating on its future price movements?
However, be careful if you want to invest in this coin. With good luck, profits can be very high, while with bad luck, proper risk control will help minimize losses.