SafeMoon launched in March and has been one of the more successful Initial Coin Offerings (ICOs) so far with a 39% increase during its last 24 hours on trading at $0.000004729 per token as I write this article.
A new cryptocurrency called SAFEMOON is unheard of in the crypto world. Still, it has quickly attracted much media attention after gaining just 111% of market value within a couple of days.
Despite its recent price slump, Safemoon has still attracted much attention in the media, with many people speculating for a further rise in value.
It is always interesting to see what moves the market, and this time around, we saw an accelerating trend with Safemoon Price. It accelerated after bulls broke and consolidated at $0.00000296 over the 78th Fibonacci level.
The token is seeing high interest on social media, and it has gone viral in the second spot on Stocktwits behind Shiba Inu, the self-described “Dogecoin killer.”
SafeMoon is experiencing a fantastic month as it breaks records and continues moving higher. It has enjoyed a historic bull run in October, with the price skyrocketing over 145% from its lowest point on record.
SafeMoon has been on a tear this week, with its price skyrocketing upwards by 22%. It seems likely that it will continue moving higher before facing any significant resistance.
SafeMoon Price Forecast
The safe moon price is on a bull run, and predictions suggest it could be heading back up towards its previous high. It is forecasted that by 2022, the average cost of 1 SAFE coin should reach $0.00000251 from 2021’s current level at about 0.00000476 USD.
Still, many factors can affect this, such as buy-side volume increasing significantly or more people wanting to invest in cryptocurrency due to prices rising drastically throughout 2021.
Furthermore, Coinpedia predicted that a solid start to 2022 could see SafeMoon trading near $0.0000067, whereas if it ends 2021 on low grounds, next year will most likely begin at the lowest point possible $0.000003.
However, Cryptocurrencies are volatile, making it difficult to predict a coin’s price in the short term accurately. This means that when analysts make predictions of currencies and blockchain technologies, they often get them wrong because of how quickly costs can change on cryptocurrency markets.
Don’t just follow the crowd. Always do your research and ensure that you are making an informed decision by considering all of the available information, including what’s going on in the markets right now and how it might affect us down the road or even today.
And never invest more than you can afford to lose because there will always come when enough is too little for our investments.
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