Wondering if SafeMoon is worth buying this year? Read this guide, and we will tell you everything you need to know about investing in the meme currency.
We are living in the meme currency age, and you too must have seen the attention that SafeMoon has gathered over the last few months and wondering if it is a good investment. The short answer to this is YES, SafeMoon is a hugely promising meme currency whose value is expected to continue rising in the foreseeable future, effectively making it a pretty solid investment.
Remember, though, that much of the investor and media attention that Safemoon has been receiving of late has everything to do with its peers’, i.e. Shiba Inu and Dogecoin performance. Both meme coins recently made it to the coveted list of the most valuable cryptocurrencies, and now everyone is wondering if SafeMoon could be next and speculating on its future price action.
Let us help you arrive at an informed investment decision by explaining SafeMoon’s newfound popularity, telling you if the DeFi token is worth buying, reasons to buy, and exploring the risks that a SafeMoon investment carries.
First, though, we need to understand what SafeMoon is and its past price action.
What Is SafeMoon?
SafeMoon is a meme currency built on the Binance smart chain. It was released in March 2021 for the sole purpose of helping individuals grow their wealth by speculating on the token’s rapidly rising value. As is the case with most other meme currencies, SafeMoon enlisted the help of A-list celebrities like YouTuber Logan Paul, Sports Blogger Dave Portnoy, rapper Lil Yachty, and numerous crypto analysts to help popularize the coin and create the much-needed buzz about it in a bid to create build a SafeMoon community.
These have been successful to some extent as the meme coin is currently ranked as the 205th most valuable crypto project by CoinMarketCap. Having been around for less than a year, its value has also shot by more than 10000%, and it has one of the most vibrant social media following on such platforms as Reddit and Twitter.
This success has made SafeMoon developers rethink their meme coin approach and take bold steps aimed at legitimizing the altcoin. So far, they have launched a functional SafeMoon wallet and a clear road map about the token’s future. And chief among its proposed developments include the launch of a SafeMoon NFT exchange, a SafeMoon DEX, and a coin Launchpad from whence anyone can launch their altcoin.
But what exactly makes SafeMoon this popular, you may ask?
Why Is SafeMoon So Popular Right Now?
Well, there are multiple reasons why SafeMoon is hugely popular, but the most formidable has to be the fact that we are living in a meme currency age. The ease with which virtually anyone can create and launch a meme currency and the backing some of these coins receive from celebrities has particularly played a critical role in the popularization of such meme coins as SafeMoon.
We could also say that SafeMoon is popular because of its past and expected price action. We have already mentioned that its overall ROI currently sits well above 10000% despite having been around for less than a year, and it is expected to grow even further over the next few years. The strong buy market sentiments and bullish crypto expert commentaries have ignited FOMO among most speculative investors. They are currency trooping SafeMoon supported exchanges in droves looking to buy the altcoin in readiness for the next price rally.
Lastly, one could argue that SafeMoon is hugely popular today because it promises to be more than just a meme currency. Unlike most of its peers that are only interested in outdoing each other in terms of social media following, size of the market cap, and in the race towards $1, SafeMoon is angling towards establishing itself as a legitimate altcoin.
To this end, it has successfully launched a fully functional digital wallet and has made public its intention to create an NFT trading platform, a launchpad, and a DEX. These are expected to endear it to long-term crypto investors and earn it several positive reviews from crypto industry experts, both of which will go a long way in boosting its value.
So, Should I Buy SafeMoon In 2022?
Yes, you should consider investing in SafeMoon today because its prices are expected to continue rising in the near future. Virtually every price analysis indicator is hugely bullish on the DeFi token’s future performance and expects its value to reach inconceivable heights in the near future, effectively earning its investors massive returns. In fact, most crypto experts and analysis platforms expect SafeMoon to set a new all-time high before the end of 2022.
Over the longer term, technical analysis by the all-popular PricePrediction.Net platform expects SafeMoon to maintain a gradual but progressive uptrend that could see its value grow by more than 4000% in less than 10 years. It indicates that SafeMoon will most likely be worth $0.00001567 by the end of 2030.
The ever-bullish CryptocurrencyPricePrediction is even more optimistic about SafeMoon’s future price action. Its technical analysis indicates that SafeMoon prices could appreciate by more than 11000% in the next few years to eventually reach $0.00058 by December 2030.
Still not convinced that SafeMoon is a good buy, here are a few more reasons why experts believe that the altcoin is a good buy.
Why You Should Buy SafeMoon?
- Its value will rise: Some crypto experts argue that as Shiba Inu and Dogecoin prices stagnate, thrill-seeking speculative investors will be looking for other promising meme currencies, and SafeMoon is one of the most viable options. Such attention would skyrocket its price and your investment with it.
- It is highly liquid: Though it is yet to be listed with such A-list exchanges as Binance, Coinbase and there are online campaigns to have listed on Robinhood, SafeMoon is still quite liquid and readily accessible. In the last quarter of 2021, for instance, its daily trade volumes have been fluctuating between $ and $110 million - enough to fill even the largest of buy/sell orders.
- It is building intrinsic value: The ongoing developments around the SafeMoon token are bound to give it an intrinsic value and endear it to long-term investors.
But as is the case with cryptocurrencies and virtually any other investment, SafeMoon investments carry a few risks that you should familiarize yourself with before buying the altcoin.
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Risks Associated With SafeMoon Investment
- It is massively volatile: Price volatility is characteristically common with virtually every cryptocurrency, including the more established coins like Bitcoins and Ethereum. Meme coins are, however, threatening to give volatility a new meaning, especially when you consider how drastic their price changes can be and the triviality of their price movement triggers.
- It has no real-world use case: Unlike pioneer cryptocurrencies like Bitcoin and Ethereum, SafeMoon has no real-world use case and can, at the moment, only be used for speculative investment purposes. For this reason, it has received a lot of bashing from crypto industry experts and the mainstream media, both of which have led to widespread scepticism about investing in the altcoin.
Conclusion: Is SafeMoon Worth Buying?
After going through this post, you understand that the larger crypto market is confident about SafeMoon token prices rising in the future - which makes it a good buy.
Some of the factors that experts believe will help SafeMoon sustain its current uptrend for the next few years include the developments around the altcoin, shifting attention from popular meme currencies, its bulging community, and celebrity endorsements.
But don’t just take our or any crypto expert’s word for it, conduct your own research, and when they match our findings here that SafeMoon will be worth more in the future, start investing in the altcoin.
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