Safemoon Prediction - Is SafeMoon Worth The Hype?
SafeMoon currency was introduced to the market in the spring of 2021, and it quickly drew the attention of investors. It promised to flip the decentralized sector, which is already notorious for its inconsistency on its head.
The project is a BEP-20 coin that was established on the Binance Smart Chain network. The inventors' primary objective is 'mooning,' which implies skyrocketing in price.
Considering these, is the currency really worth the hype?
COPYRIGHT_WI: Published on https://washingtonindependent.com/w/safemoon-prediction/ by Camilo Wood on 2022-01-11T07:20:55.193Z
The current behavior and structure of the SafeMoon price movement are practically unique.
SafeMoon's price behavior is unlike that of very few, if any, notable cryptocurrencies. During the early portion of December 1’s trading session, the SafeMoon price plummeted about 30% from its daily open of $0.0000030 to $0.0000023.
At the present, SafeMoon has a market worth of $2.5 billion and is now trading at $0.000004 per coin. It soared to all-time highs of $0.000009 in May 2021, putting the market cap at double what it is now. For such a low price per token, this is a pretty significant market cap.
For December 2021, the SafeMoon cryptocurrency trading rate projection is $0.000004 at the start and $0.000041 at the end of the month. The December SafeMoon exchange rate will be $0.000004, with a maximum value of $0.000043 per coin and a minimum of $0.000002.
SafeMoon is expected to rise by 6.21% in 2021.
"By the end of the year, the price will have reached positive highs, and the 2022 trade will likely begin optimistically," according to Coinpedia.
If that's the case, the starting price for next year might be around $0.000006426. If additional exchanges like Coinbase Pro offer Safemoon, the price can surge, reaching a maximum of $0.0000192 at the end of the next five years.
SafeMoon looks to be a high-risk speculative investment at this time. The market is significantly less liquid than other major cryptocurrencies. Binance's PancakeSwap decentralized exchange is now the sole option to trade SafeMoon.
The token is intended to deter selling, as previously stated. Because of this, the price is expected to rise over time, benefitting the owners and early adopters. The social media buzz and excitement around cryptocurrency are pouring gasoline to the fire.
Some experts even feel it's a "pump-and-dump" strategy. This implies that those who purchased the coin early will "push" it up, encouraging others to do so as well. Then they'll sell or "dump" their coins to an unsuspecting public, bringing the price back down.
SafeMoon is a very high-risk investment in terms of volatility. It is a mainly hypothetical project with few applications. A SafeMoon investment might benefit you if you're ready to face a few risks in exchange for a bigger potential return. It may not be as worthy of the hype it's getting because of its relatively low price and inconsistent rates.