Is Safemoon a good investment?
Well, considering that Safemoon has performed exemplarily well in the last few months, has maintained an overall uptrending price action, and its price is expected to continue rising, YES, you could say that SafeMoon is a good buy. Most crypto analysts have also argued that it could be the most promising meme currency yet and expect it to gain a lot of investor interest that pushes its value and your portfolio, by extension, to unprecedented heights in the next few months.
But if you were to subject it to the traditional metrics of assessing a good buy, SafeMoon has all the hallmarks of a bad investment. For instance, it is a meme currency that started as a joke and with no real use outside of speculative investment niche. Not to mention that it thrives on hype and speculation, which expose it to hugely volatile and hard-to-predict price movements.
But with such criticism of its appeal as an investment product, why then is it so popular, and what keeps its prices on an uptrend? Should you even be buying SafeMoon today?
We will be answering these questions in this post and telling you everything else you need to know before buying SafeMoon.
We start by asking ourselves if SafeMoon is safe to buy today.
So, Should You Buy SafeMoon?
Well, yes, you should consider buying SafeMoon today because its value is expected to continue rising for the next few years, which translates to massive gains for your crypt portfolio. Furthermore, everyone - from crypto experts to technical analysts and even market sentiments - is convinced that the meme currency will sustain its current uptrend and that its value will keep soaring as we head into the future.
Some of the crypto experts argue that now after helping similar meme currencies like Dogecoin and Shiba Inu make it to the list of top 10 cryptocurrencies, speculative investors will now be looking for a lowly priced but hugely promising meme token to hype. They believe that SafeMoon fits this bill because it is a relatively new coin that has managed to gain a huge following over a relatively short period.
To this end, they expect SafeMoon’s token prices to soar and hit unprecedented heights in the next few years.
For instance, crypto market experts from Economy Watch are confident that SafeMoon token price could appreciate by more than 500% in the next four years to reach $0.000025 and by more than 1000% to reach $0.00004 by December 2030.
You may also want to invest in the meme coin because it has already taken the baby steps towards becoming a legitimate altcoin with real-world use cases. Its developers started by launching a functional SafeMoon digital wallet and have now announced plans to create a rather broad SafeMoon ecosystem that includes an NFT exchange and a coin Launchpad.
These would make it appealing to investors and, when coupled with the expected future uptrend, make it a good long-term buy. Moreover, SafeMoon could easily delink from the Binance Smart Chain where the meme coin is hosted and launch their own SafeMoon blockchain after achieving all these.
But until all these programs are launched, and SafeMoon achieves some level of legitimacy among crypto industry critics and market experts, we advise that you only consider SafeMoon to be a short-term investment.
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Why Is SafeMoon So Popular Right Now?
There is a myriad of reasons why SafeMoon is as popular as it is today, and we will be highlighting the three most potent below. These have, according to multiple experts, helped the meme currency shoot from oblivion to become the 205th most valuable crypto project with a market cap of close to $2.5 Billion as of November 2021.
First, SafeMoon is popular because it is profitable. Look at it this way, launched less than a year ago, the joke crypto coin has only been around for less than a year, and its overall ROI has already topped 10000%, according to data from CoinMarketCap. Moving forward, crypto forecasting platforms like CryptocurrencyPricePrediction have already indicated that we can expect SafeMoon’s value to rise by a further 11000% by the end of 2030.
Secondly, SafeMoon can be said to be popular because of its fast-growing community and celebrity endorsements. The SafeMoon official website already describes the DeFi token as having “the fastest growing community on Earth.” It is especially hugely popular on Twitter and Reddit, where its developers have enlisted the help of different crypto analysts to help keep the community engaged and celebrities to draw crowds to the coin and keep the conversation going. Some of the popular celebrities who work closely with SafeMoon include YouTuber Logan Paul, rapper Lil Yachty, and sports blogger Dave Portnoy.
Thirdly, SafeMoon is popular because of the meme currency frenzy that has taken over the crypto investment space. Ever since Dogecoin Elon Musk started promoting Dogecoin, the crypto industry has fallen head over heels with meme currency, and now new joke altcoins pop up daily. Through celebrity endorsements and aggressive social media campaigns, SafeMoon has emerged as a highly successful meme coin with one of the fastest-growing social media following.
SafeMoon Price History
SafeMoon launched in March 2021 and ended its first day of trading around $0.000000000954. Its launch coincided with the early 2021 crypto market rally and the crypto market’s fascination with meme currencies, led by Elon Musk’s fascination with Dogecoin. These could very well have helped have played the biggest role in contributing to the success the altcoin is currently enjoying.
Ever since its launch, SafeMoon prices have been rather volatile, but it has maintained an overall uptrend. It set its current all-time high of $0.00001399 less than a month after launch but soon dipped after the mid-May 2021 Bitcoin crash. In the months that followed, it struggled to get back to this peak price and only started rallying again in the last quarter of 2021 after Bitcoin’s surprise rally.
Moving into 2022, most crypto experts and investors are convinced that it will carry over the rallying momentum it formed in the last quarter of 2021 and continue fueling it for the next few years. Most are especially confident that SafeMoon will break above the current all-time high before December 2022.
Will SafeMoon Reach $1 In 2022?
The general feeling within the crypto community is that SafeMoon token prices will continue powering the ongoing price rally, and everyone expects it to break above the current all-time high before the end of the year.
Crypto experts at Changelly, for instance, argue that the developer plans for the altcoin, its fast-growing community of investors and believers, as well as a fluid crypto market performance, will help accelerate the altcoin’s growth rate throughout 2022. They are confident that by the end of the year, SafeMoon could be trading around $0.000082.
Technical analysis platform Gov. Capital is equally bullish about the Safemoon altcoin’s future price action and expects it to end the year trading around $0.0000023. A similar analysis by the reputable Wallet Investor produces a tad more optimistic results and indicates that SafeMoon will most possibly reach $0.000005 before the end of 2022.
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Conclusion: Is SafeMoon A Good Buy?
Yes, SafeMoon is a good buy because it can help you fatten your investment portfolio and push it to unprecedented heights with its fast-paced value appreciation. In less than one year, it has stretched its price and market cap by more than 10000% and is expected to raise its current value by a similar by the turn of the decade.
Some of the factors that experts believe will help it get here and which make it a good investment include its rapidly growing community, the bullish crypto market trends, and the ongoing meme currency frenzy.
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