safemoon price prediction
With every passing day, we are witnessing innovations in every walk of our lives.
The same is the case with cryptocurrency as it is growing day by day, and it is expected that it will be the new world order in a few years.
Every day, new coins are entering the crypto market and letting the traders invest their money.
One of these coins is Safemoon which hit the market in March 2021, but the Safemoon price volatility has made it very famous in a very short time.
It gained the traders’ attention, and more than two million dollars have been invested here.
Safemoon coin has its uniqueness in that it rewards its investors for holding the coin, and this is why it is considered a coin to be kept for a long term.
For every transaction, it charges 10%, of which the 5% goes to all the investors who are holding the coins and the rest of the 5% to the liquidity pool to maintain the stability of the coin in the market.
Here in this article, we will provide you with a detailed overview of Safemoon, Safemoon price prediction, and its other features.
Safemoon Price History
Cryptocurrency is a complete science, and understanding the trends of the coins is an art, and one who masters it gets success in this field.
To thoroughly understand the price of any coin, you must study the coin’s history, what its trend was in the past, how it got affected by international politics, and what the investors of specific coins got from it.
If we look at the past trends of Safemoon price, we will be surprised to see the whole trend.
In March 2021, Safemoon coin started with the price of $0.000000001, and at the end of April, it broke all the records when Safemoon price sky-rocketed to $0.00001375.
Such a massive increase means that if you invested one dollar on Safemoon coin on its launching day and sold that single dollar in the peak days, you had have ended up a millionaire.
However, this massive increase did not stay long, and at the end of May, the Safemoon price was dropped.
In August, there were some technical difficulties in the Safemoon coin wallet, and another dip in the price was observed.
In October, there was another jump, and the price rose to $0.000006302 and right now, at the end of November, after another setback, Safemoon’s price is 0.0000032.
Safemoon Price Prediction for the Future
As we mentioned earlier, the Safemoon coin is the one that should be considered for long-term investment.
There are some excellent predictions related to the Safemoon price. Keeping the Safemoon coin for the long-term has other benefits, like 5% of every transaction is distributed among the investors.
Although any investor must have a detailed study about the coin before investing and do not come into the market’s hype, we still get predictions from crypto experts.
These predictions are not presented through hit and trial but based on the market cap, entire investment, past trends, and many other factors.
Safemoon price predictions by the experts are as follows:
But still, we will encourage you to make a market study before investing, and this will help you make the right decision and give you a chance to earn good fortune.
Is Safemoon coin safe?
It is a very critical question asked by many of the interested investors.
There was a lot of speculation about the Safemoon coin being a fraud, but there is no proof of any fraudulent activity.
Safemoon is legally registered as per all the laws and jurisdiction, and it has a CretiK score of 91/100 in November 2021 which is thought to be a good score.
As far as the Safemoon price and its safety regarding the investment is concerned, it is solely up to you to decide the investment amount.
All the past trends and other stats are available on the internet, and you can have a thorough study before investing.
Suggestions for Investing in Safemoon Coin
Understanding the Coin
It is mandatory for any Safemoon investor first to understand the science behind this coin.
Safemoon is not working on the principles of traditional coins.
The main aim behind the Safemoon development was to make such a coin that the users hold for the long term.
So, always invest that money which is available for long time investment.
Do not Get into Hype
Never make your investment by getting under the influence of any celebrity endorsing the coin as many celebrities talked about Safemoon, but it did not impact.
Use of Wallets
As discussed earlier, the Safemoon coin is a long-time investment, so always use an authentic wallet after buying the coin as it will help you keep your investment safe.
How to Buy Safemoon Coin?
Buying the Safemoon token is quite easy, and you are required to follow the following steps:
First of all, you must have an account Binance account, and it will ask you to do some verifications.
Once the verifications are done, you will be good to go with the purchase, and it will give you access to the decentralized exchange, PancakeSwap.
As discussed earlier, you will have to get a credible wallet compatible with Binance Smart Chain. Two of the good options are Trustwallet and MetaMask.
Once your wallet is set, you can easily purchase the coin through Binance as per the price at that particular time.
You will have to purchase the Binance Coin (BNB), and then you can swap it for Safemoon.
It is also recommended to buy Hardware wallets for keeping the crypt
ocurrency. Although it is not mandatory, it will help you in keeping your cryptocurrency more secure.
Software wallets can be hacked, but hardware cannot as they store the cryptocurrency offline.
Pros and Cons of Safemoon Coin
- Price of penny cryptocurrencies like Safemoon is comparatively less than many other coins in the market, and it has a huge potential of getting high, as we witnessed in the past.
- Safemoon has a very fantastic market cap which shows its credibility and stability. At the time, it was valued over $2 Billion.
- Safemoon is one of those coins which are perfect for long-term investment.
- While selling the coin, 10% is charged, and 5% is distributed among the coin holders, which means that keeping long-term can add to the worth.
- Whenever the coin holders try to get out of the Safemoon gang, they will be charged 10% of the total coins worth.
- In the case of the Safemoon coin, we can see a huge supply but demand is not in accordance to balance the supply.
- Although Safemoon’s management went for burning to decrease the supply, it did not significantly impact the coin’s worth.
- Many crypto investors are usually searching for some coin that gives them urgent profit, but this is not the case with Safemoon.
- Safemoon price is highly volatile, and it could also cause you a huge loss and leave you without the option of getting out as it cost the additional money.
In a nutshell, we can conclude that the Safemoon coin has a huge volatility rate, and this volatile behavior could help you and make you suffer as well.
It is imperative for any investor first to study the coin and then invest.
In the recent past, we have a lot of examples where people invested in Safemoon coin and they have written their reviews. Do read such reviews for making a good decision.
Safemoon price has a huge potential of increasing shortly, and all the long-term investors must give some of their attention to this coin.
By keeping all the pros and cons in your mind, you can safely invest over the Safemoon coin and get yourself benefited from the volatility of Safemoon price.
Is Safemoon a meme coin?
Yes, Safemoon is considered a meme coin in the market due to its high volatility observed in the past and low price.
Will Safemoon price will go up?
As per the predictions by the experts, the Safemoon coin has a huge potential to go up, and investing here could give huge profits.
Is Safemoon Legal?
Although there was much news in the market that Safemoon is a fraud coin, there has not been any such fraudulent activity, and it has all the legal validations.
Will Safemoon reach $1?
If the coin keeps its performance consistent, it touches $1 by 2025, but it depends on the investors’ trust.
Is Safemoon on Binance?
Safemoon operates through Binance Smart Chain, and anyone can easily purchase it by buying Binance coin (BNB) and then swapping it with Safemoon.