The cryptocurrency market is moving so quickly that it’s getting harder to keep up with new coins. Just days following the first big surge of Dogecoin, the market saw another asset gaining steam - Safemoon. Making its first appearance in spring 2021, Safemoon didn’t take long to gain massive publicity. The price of the Safemoon coin naturally skyrocketed many-fold. However, don’t be mistaken - at the time of writing, it’s still only $0.0000085.
If this hodler-oriented coin caught your attention, keep on reading. In this article, we’ll cover all essential information - from what Safemoon is to how you can buy some.
There is very little information about Safemoon. Partly because the coin only hit the market in March 2021, and partly because creators aim to maintain the mysterious background. Technically it isn't a cryptocurrency - the website calls it a DeFi token. DeFi stands for decentralized finance token, and the easiest way to describe it is as a form of finance that does not rely on central intermediaries. But for the purposes of this article, we’ll be using the term Safemoon crypto since most publications do refer to it such.
Like Bitcoin, Safemoon uses blockchain technology but with some clear distinctions. According to devs, the protocol is a combination of RFI tokenomics and an auto-liquidity generating protocol.
The Safemoon White Paper claims its supply totals 1,000,000,000,000,000 coins - a quadrillion. The fair launch supply was 777,000,000,000,000. These figures may seem ridiculous - that is because such supplies used to be unheard of.
What else is important to know about the coin with a punny slogan, “Safely to the Moon”?
On April 19, Safemoon became a trending topic on Twitter, and soon after, reached its humble all-time high of $0.000014 on April 21. This phenomenon was described in a similar vein as other “cult stock” pumped assets like GameStop (NYSE:GME). With these types of tokens, there is little barrier to entry to create a similar project. So, it’s no wonder we see yet another wave of coins with a high initial wave of interest.
Most news articles either focus on why the Safemoon currency went up so drastically or analyze its possible future direction. But in this section, we’d like to share the media coverage of the project’s recent developments:
Investors seem to be gravitating towards new DeFi protocols like SafeMoon. Therefore, the usage might provide more underlying value as time goes on. This is reflected in the Safemoon price predictions that we see so far.
Below is a table listing possible prices for 2021 offered by Wallet Investor.
Month |
Average price |
Min. price |
Max. price |
June 2021 |
0.000016 |
0.000014 |
0.000018 |
July 2021 |
0.000020 |
0.000018 |
0.000023 |
August 2021 |
0.000025 |
0.000023 |
0.000027 |
September 2021 |
0.000029 |
0.000027 |
0.000031 |
October 2021 |
0.000033 |
0.000031 |
0.000035 |
November 2021 |
0.000037 |
0.000035 |
0.000039 |
December 2021 |
0.000041 |
0.000039 |
0.000043 |
From this table, as well as other similar publications, we can see an overall positive sentiment surrounding the token.
The promising outlook follows Safemoon well into the future - for up to 5 years. By 2026, the coin might increase by as much as 2,500%. However, bear in mind that such long-term forecasts are only based on historical performance, putting less emphasis on fundamental factors.
Safemoon isn’t listed on any major crypto changes. Currently, there are four smaller ones that accept the coin - PancakeSwap (used most commonly), BitMart, Gate.io, and WhiteBit.
The easiest way to purchase Safemoon is on a smartphone. So, in our instructions on how to buy Safemoon, we’ll be using a few mobile-based apps. This is more complicated crypto compared to bigger coins, taking a couple of extra steps.
The first thing you need is to move your money into the cryptocurrency world. Options vary depending on where you live, as do fiat currency you use in the beginning.
At this stage, do the following:
At the second stage, you’ll need to:
This step involves:
Finally, to turn your BNB Smart Chain into Safemoon, you should:
Safemoon seems to have a lot to offer, as do many crypto assets in 2021. And there is potential profit to be made from the inevitable volatility of the cryptocurrency market. From the technical analysis perspective, Safemoon recently broke out of what’s called a falling wedge pattern. It’s trading above both the 50-day moving average (green) and the 9-day exponential moving average (blue). This creates a bullish sentiment.
Calculations for trading:
From the fundamental analysis perspective, the coin needs to achieve some functionality beyond simply being a tool for speculators. If it doesn’t, the loyalty feature will not be able to sustain the current value. And since investors receive half of the transaction fee, their investments rely on more people buying Safemoon.
There is the school of thought which sees cryptocurrencies as the only financial medium in the future. But even without going to such great lengths, traders and investors see their value as speculation assets. Here are some of the reasons why:
And finally - is Safemoon worth buying? It is a highly volatile asset, and an average person might be intimidated by the range of price changes. However, what experienced traders and investors understand is that market volatility actually provides numerous opportunities.
If you want to try yourself, Libertex features multiple assets from traditional relatively secure ones to upcoming volatile ones. Sign up for a demo accountto explore functionalities and technical indicators as in live trading, but risk-free.
Please remember that investing is inherently about risk, which works both ways. Each trade carries the risk of both failure and success.
# | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
1 | BTC | Bitcoin predictions | 85.6% | 28 | $64 301.06 | 1.38% | -3.81% | $1 265 912 229 484 | ||
---|---|---|---|---|---|---|---|---|---|---|
2 | ETH | Ethereum predictions | 78.4% | 39 | $3 100.46 | 1.11% | -3.61% | $372 282 858 403 | ||
3 | USDT | Tether predictions | 92.4% | 1 | $1.000468 | 0% | 0.08% | $109 520 747 897 | ||
4 | BNB | Binance Coin predictions | 86.4% | 20 | $560.75 | 1.97% | -4.60% | $83 850 651 338 | ||
5 | SOL | Solana predictions | 74.4% | 46 | $145.41 | 3.63% | -2.84% | $64 971 430 255 | ||
6 | USDC | USD Coin predictions | 95.2% | 2 | $1.000149 | 0.01% | -0.01% | $33 500 062 682 | ||
7 | XRP | XRP predictions | 75.2% | 50 | $0.506765 | 0.73% | -5.74% | $27 937 517 591 | ||
8 | DOGE | Dogecoin predictions | 68.8% | 59 | $0.154076 | 2.25% | -9.21% | $22 179 770 823 | ||
9 | TON | Toncoin predictions | 71.6% | 61 | $6.18 | -4.72% | -1.94% | $21 439 237 116 | ||
10 | ADA | Cardano predictions | 71.2% | 58 | $0.472740 | 4.08% | -1.98% | $16 841 215 094 | ||
11 | SHIB | SHIBA INU predictions | 58.8% | 85 | $0.000023 | 0.89% | -4.03% | $13 485 877 588 | ||
12 | AVAX | Avalanche predictions | 67.6% | 63 | $35.29 | 1.12% | -8.40% | $13 340 544 361 | ||
13 | STETH | Lido stETH predictions | 92% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 | ||
14 | WBTC | Wrapped Bitcoin predictions | 84.8% | 30 | $64 324.51 | 1.46% | -3.79% | $9 994 981 971 | ||
15 | DOT | Polkadot predictions | 73.2% | 54 | $6.79 | 0.54% | -1.92% | $9 741 441 400 |
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