There are a total of 9000 cryptocurrencies in the current market. It is increasing daily, and every purpose or idea has its cryptocurrency to secure and get investment. Out of 9000, 6000 cryptocurrencies alone came in 2021. SafeMoon is one of the newest cryptocurrencies, and it became operational in the first quarter of 2021. This cryptocurrency projects a grassroots effort to create decentralized financial systems.
What Is SafeMoon, Is It Profitable?
As per the data of Utah Business, the currency now has more than 2.9 million holders. There are a total of 585,536 billion coins in circulation. Safe moon works on the idea of providing its user an source of passive income and allowing them free dealing of the currency. It also has established penalties for users who want to exit prematurely. Such passive income or rewards are known as reflections in the SafeMoon world. According to the SafeMoon white paper, one major issue in the emerging decentralized financial industry is that high-yield liquidity mining raises the entry barrier for latecomers. It accomplishes its fundamental idea in two ways:
- The reward amount is conditional on the volume of trades, which mitigates the selling pressure caused by early adopters selling their coins.
- It encourages holders to collect higher payments based on the total number of tokens owned.
Price History of SafeMoon (SAFEMOON): Background
There isn’t much historical data because SafeMoon is so new. The current price is $0.00000132. Soon after its release, it experienced a massive price increase, reaching an all-time high of $0.00001399 on April 20, more than 1,560 percent higher than the previous week. However, by the end of that day, the price had dropped to $0.00001118 and, except for a spike in May 2021, had been trending downward for several months before leveling off.
Experts Talk on SafeMoon for Upcoming Years
SafeMoon has created a plan for this year. In the first quarter of this year, the company announced that it had doubled the size of its team and had begun a marketing campaign. Following that, the company intends to create a SafeMoon app (the purpose of which is unknown), a wallet, and games. The company also stated that it intends to investigate allowing the currency to be traded on exchanges such as Binance and begin building its exchange. Its price has risen 3253%.
With the plans, SafeMoon entails and the popular brand value that it has created for itself experts believe that SafeMoon price will touch almost 1$ in the coming years. If you want to make a long-term investment, you should look at the SafeMoon coin price prediction.
Benefits of Buying SafeMoon (SAFEMOON)
1. SafeMoon is a valuable meme crypto brand.
New cryptocurrencies appear weekly; some start like a joke, some start with an idea, and some start with direct investment, but most lack the required boost and popularity for a better trade prospect. The most valuable aspect of SafeMoon at this point is most likely its brand. Top-performing cryptocurrency has created cult-like social media followings, and their brands have spread like wildfire online thanks to viral memes. Since its debut earlier this year, SafeMoon has been trending on social media. Without any prominent technical advantage over other top cryptocurrencies, Long-term success for SafeMoon may be based primarily on the strength of its popularity.
2. Facilitation of Passive income
SafeMoon was created to encourage long-term investing while punishing short-term trading. The passive source of income provided is structured by punishing early exiters to a hefty 10% fee. Most of the fee is put into a liquidity pool to help maintain price stability, and the remaining half is distributed to SafeMoon’s current holders. In this sense, every time another SafeMoon investor sells, SafeMoon investors generate passive income. SafeMoon investors generate even more passive income as a reward for holding during periods of weakness when selling pressure increases. The structure of operations entails logic and rules like an exclusive club.
3. Investments from Big Players
The world has seen people changing into influencers and then changing into big brands and businesses. Dave Portnoy and Jake Paul are some of the big names invested in SafeMoon. Jake Paul had also marketed SafeMoon right after its launch in March. Jake Paul has in the past been pretty vocal about crypto and NFTs, whereas Dave Portnoy would stay away from such investment. Earlier this he announced an investment of $40,000 in SafeMoon.
SafeMoon, since its launch, has been showing strong growth with little drops in the middle. It has a strong community and is backed by influential names that make it desirable to invest in. Still, such investments should only be carried out after assimilating its potential risks.