SafeMoon coin has entered the market only in spring 2021 and rushed to attract the attention of investors. Already known for its inconsistency, the DeFi market has a new player which is aimed to turn the decentralized sector upside down. SAFEMOON is compared to DOGE, and it is said to be a new progressive altcoin. Let’s figure out what SafeMoon is and what to expect in this price prediction.
SafeMoon Crypto Overview
SafeMoon was launched on March 8. The project was built on the Binance Smart Chain network and is actually a BEP-20 token. The main goal of the creators is nothing but ‘mooning,’ which means soaring in price (which seems quite suspicious). The team behind SafeMoon aims to make a groundbreaking coin that is not affected by the valuation bubble burst and embrace a DeFi reflection and farming.
SafeMoon is a decentralized finance (DeFi) token. Its protocol includes three simple functions:
- Liquidity Pool (LP) acquisition
In the first quarter of 2021, the company introduced the SAFEMOON/DOGE trading pair on Bibipom exchange and began a legal paperwork process with Bitmart and Whitebit. Since March, the price of the asset has risen from $0.00000001 to $0.000005. However, the cryptocurrency market nature is speculative. But there is one fact.
The decentralized finance market is diverse – exchange, lending, insurance, etc. DEX exchanges are regulated by smart contracts. When smart contracts are posted on the network, users can examine them and start interacting with them. Until the developer changes the contract, the smart contract will conscientiously fulfill the intended tasks without the need for clients to provide identification data, open and replenish accounts, exchange funds, or withdraw money.
The key concept in DeFi is yield farming, which is equivalent to the bank’s percentage of the deposit. We have already explained what yield farming is in our article. Yield farming has an APY (annual percentage yield), which can reach even 5,000% per year.
With the rise in popularity of DeFi, many cryptocurrencies fall into the trap of high APY of LP farming as earlier buyers with higher rewards crowd them out. However, tokens almost always suffer from an imminent valuation bubble, followed by an explosion and an impending price collapse. The solution to this problem in SafeMoon is static rewards, which depend on the volume of the token being traded.
Reflection encourages holders to keep their tokens to obtain higher returns, which are percentage-based and dependent on the total number of tokens held by the owner.
Burning benefits only in the early stages. SafeMoon monitors the burning and announces the conditions and the number of tokens to be burnt. Burning is aimed at holders who are ready to invest in the project in the long term.
Safemoon Community Opinion
Cryptocurrency Twitter profile WarOnRugs tweeted the warning considering the SafeMoon project. It claims that SafeMoon’s owner has more than 54% of the liquidity.
Safemoon asset is now traded on Bitmart, PancakeSwap, and BakerySwap exchanges.
Safemoon Cryptocurrency Price Prediction for 2021, 2022, 2025
The developers’ plans are impressive. The team is architecting NFT exchange, developing a video game integration, educational app, and charity platform. These are the plans only for 2021. If everything goes like clockwork, the coin, like the project, can reach unprecedented heights.
According to Capital.com, SafeMoon cryptocurrency price is really aimed at an upward trajectory. This year, the price can go up to $0.00000609 and reach $0.0000124 by the end of 2025.
Digital Coin Price source suppose SafeMoon price to reach $0.00000763 by the end of 2021. In 2022, the price might slightly go up to $0.00000918. By 2025, the number of ‘zeros’ will finally reduce, and the price may touch $0.00001554.
David Zeiler, the associate editor at Money Morning, claims that Safemoon is nothing but a bubble that will burst in the near future:
My SafeMoon price prediction is that it will blow up and go to zero – and within a couple of years, will end up on the ever-growing heap of “deadcoins.”
Well, only time will tell what SafeMoon actually is. We would like to advise you to DYOR before any crypto purchase, especially connected with such freshmen. Remember that the cryptocurrency market has a highly volatile nature.
In this section, we accumulated all the frequently asked questions concerning the SafeMoon token.
How to Buy SafeMoon (SAFEMOON)?
SafeMoon is not traded on each and every exchange platform. You can exchange USDT for SAFEMOON on Gate.io, MXC.COM, BitMart, and WhiteBit exchanges. PancakeSwap exchange offers SAFEMOON/WBNB and SAFEMOON/BUSD swaps.
Yet it’s impossible to buy SafeMoon on Changelly, you can buy USDT or exchange some crypto to swap it on another exchange.
What Is SafeMoon (SAFEMOON)?
SafeMoon is a new decentralized finance token built on the Binance Smart Chain network. The project aims to create an NFT exchange platform, educational app, and charity project.
Is SafeMoon a Good Investment?
We are not sure that we have an answer to this question. Since the project was launched in March 2021, many opinions might be suspicious and negative. Do your own research before investing in any cryptocurrency.
How Many SafeMoon (SAFEMOON) Coins Are There in Circulation?
The project’s team has reported about 642,807,441,594,934 SAFEMOON in current circulation.