SafeMoon Crypto- Price, How to Buy and What is The Hype About?

What all is the hype about this new cryptocurrency that has soared drastically since its launch?

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Highlights

• SafeMoon’s name is a play on the phrase “to the moon”.
• SafeMoon began trading on March 8, 2021, at a price of $0.000000001 and soared by 375% on April 20, 2021 trading at $0.00001375.
• The highly volatile crypto has since then fallen drastically. On Oct 10 its value stood at $0.000001619.
• The future price movement for SafeMoon has been predicted to be upward by all analysts, albeit to varying degrees of rising, till 2030.

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A slew of new digital coins has hit the market with the growth and expansion of the cryptocurrency industry. One such newly launched cryptocurrency is SafeMoon, which has been around for a little over six months. The hype around this coin is worth talking about as the prices of SafeMoon have already skyrocketed off the chart since the launch of the crypto.

So, what does the future hold for SafeMoon? Is it really secure?

SafeMoon’s name is a play on the phrase “to the moon,” which is a popular rallying call among online crypto communities. It is unclear who coined the phrase but it is most closely associated with Dogecoin, the crypto that began as a joke and has since gained traction thanks to endorsements from celebrities such as Kiss bassist Gene Simmons, Snoop Dogg, and the highlight of all, Elon Musk.

The term ‘safe’ in the name SafeMoon may have more to do with the crypto’s apparent security than with the Welsh slang term of approval. The term ostensibly appears to have been designed to prompt people to retain or hold on to this digital currency. The creators of this crypto asset have stated that anyone selling a SafeMoon coin will be charged a 10% sales tax, in addition to 5% of the proceeds going to people who are still holding their coins and the remaining 5% being burned. This acts as a sort of reverse dividend for cryptocurrency holders.

There’s also an odd paradigm at work here. While you hold on to SafeMoon, you could theoretically make some money from other people selling it. In theory, you could profit if the overall price of SafeMoon dropped.

It remains to be seen whether this will happen in the long run, but it is possible. It’s also possible that everyone holds, with few buying or selling, and that the SafeMoon price remains stable over time, leaving people waiting for a price increase that never comes.

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Legitimacy of SafeMoon Crypto

The legitimacy of SafeMoon has been a cause of concern for many. Its unique structure, which encourages people to hold on to the coin, has been questioned by some experts, in addition to its relative newness. Some analysts have even called it a Ponzi scheme.

Further, the fact that roughly half of the liquidity of the cryptocurrency is owned by SafeMoon CEO John Karony, has also emerged as a cause for concern for many as he could easily sell his share which will render the coin worthless. The liquidity pool, according to Karony, will only be used in emergency situations, and the funds could be used to seed exchanges that trade SafeMoon or fund future products.

Further, there are also concerns about predicting the future price movements of SafeMoon because of the short history of the digital asset. 

SafeMoon’s story so far

SafeMoon began trading on March 8, 2021, at a price of $0.000000001. People became interested, as they do with all new things, and the price quickly rose to $0.0000015 on April 3 this year. For about two weeks, it stayed at this level, but then it began to move significantly.

SafeMoon’s value soared, reaching a high of $0.00001375 on the evening of Tuesday, April 20. That’s a 375% increase within just two days.

To put it another way, an investment made on the day of the launch of SafeMoon would have grown by a staggering 1,374,900%. That means if an investor had invested one dollar in the digital currency on the launch date, and sold it on April 20, the return would have made the investor a millionaire – in just over a month’s time, even with deduction of sales tax. 

However, this astronomical surge was short-lived as the price of SafeMoon has since fallen drastically and on Oct 10, its value stood at $0.000001619 compared to $0.000011 as of April 21.

SafeMoon Crypto Price Prediction

Given the short history of SafeMoon and its very high volatility, a pertinent question is whether it is possible to safely predict the future price movements of SafeMoon. This has made experts cautious about SafeMoon price prediction. WalletInvestor, for example, has a SafeMoon crypto price prediction for Sept 2022 that suggests the price will average $0.000004, and a SafeMoon price prediction for 2030 of $0.000013.

Meanwhile, according to DigitalCoin’s price prediction for 2021, the average SafeMoon price will be $0.0000020360 by the end of the year, and $0.0000041446 by 2025.

There are various price predictions for SafeMoon be various analysts for the future. Below is a glimpse- 

Wallet Investor predicts that the price of SafeMoon in 2026 is expected to reach $0.000237 and investors willing to wait for five years on their investment, can expect their investment to grow by 4640%. ⁽¹⁾

Digital Coin Price’s estimation for the future price movement of SafeMoon puts it at around $0.00000738 by the end of the current year and about $0.00001503 by 2025. ⁽²⁾

According to the analysis of GOV Capital, the currency price SafeMoon could trade at around $0.0000425 by the end of 2021 and at about $0.0002553 by 2025. ⁽³⁾

Analysts at The Global Coverage predict that the trading of SafeMoon will continue to surge in general till 2030 – albeit with some fluctuations and corrections, and it expects SafeMoon crypto price to possibly reach the milestone of $1 by the end of this decade – by 2030. ⁽⁴⁾

Experts at Currency.com agree that the trading price of SafeMoon could possibly reach the $1 mark at some point in the future. However, analysts at this organization do not see it reaching that value in the next seven years despite the long-term optimism. ⁽⁵⁾

Analysts at the Reddit Community recommend investors buy for SafeMoon whenever it dips because this digital currency is expected to continue to appreciate by the buyers and sellers for trading on exchanges of the crypto market and predict that it can reach $0.009 over this year. ⁽⁶⁾

Analysts at Facebook predict the value of SafeMoon to reach $0.0002 by 2025 while Google predicts it to reach a value of $0.000019 by 2025. ⁽⁷⁾

How to buy SafeMoon

According to safemoon.net, this digital currency can be bought in four easy steps.

The first step is to create a wallet by downloading the SafeMoon wallet and following and completing the steps to make a wallet for investing. It is always advised to keep the 12-word seed phrase a secret and not share it with anyone ever.

The second step is to purchase BNB which can be done by clicking on the “Buy” button at the top of the app, and select Smart Chain (BNB) and completing the purchase. But this does not happen instantaneously and may take a few minutes to complete. However, since Wyre has not yet activated BNB, one can buy BSC on their original wallet if they have already imported the wallet and the outcome should get reflected in their Safemoon Wallet.

The next step is to swap BNB for Safemoon by clicking on the swap button at the bottom while ensuring that the slippage is at 12% and that Smart Chain (BNB) is in the top slot while Safemoon remains in the bottom slot.

The website then advises investors to HODL (or hold) and see the balance in reflections.