Despite its recent price boom and surging popularity, SafeMoon still sells for fractions of a penny, and this has investors wondering; will SafeMoon ever reach $1?
Well, there is an overwhelming conviction within the crypto community that SafeMoon prices will continue rising for the next few years. However, the odds are high that it won’t get to $1 in the next few years. In fact, some crypto experts are convinced that the meme coin’s value will not get anywhere near 1 cent in the next five years despite the numerous social media campaigns by SafeMoon fans for a rally towards 1 dollar.
Over the past few months, the SafeMoon development team has come up with different strategies aimed at pushing up the altcoin’s prices. These include establishing one of the largest and liveliest social media following with the help of popular crypto influencers.
But the most significant has been the push towards legitimizing the altcoin and marketing it as a viable long-term buy for investors. This was achieved through the launch of a SafeMoon wallet and the promise of a SafeMoon NFT marketplace, push for the altcoin’s listing with popular exchanges, and the popularization of its deflationary feature.
We are yet to see how effective these measures will be, seeing SafeMoon is still a relatively new altcoin. But one thing is certain, meme currencies can no longer be ignored, seeing that we already have two (Dogecoin and Shiba Inu) making up the list of 10 most valuable crypto projects. We can only speculate on the impact they will have on the market and how high up their prices can each.
In this post, we are shining attention to SafeMoon and asking- will it reach parity with the dollar? If yes, when and if not, why? And we answer these by sampling different crypto expert opinions and price forecasts.
First, though, we look at SafeMoon’s past price performance.
SafeMoon (SAFEMOON) Price History
SafeMoon launched in March 2021 during the crypto market rally and ended its first day of trading selling for $0.000000000982, according to data from CoinMarketCap. The fascination with meme currencies and the rallying crypto helped it score a massive embrace from investors and traders fast, and a month after launch, the altcoin set its current all-time high of $0.00001399.
However, the investor interest in the coin, trade volumes, and prices came tumbling after the mid-May Bitcoin price crash. In the months following the crash, most investors turned back to the more popular meme currencies (Shiba Inu and Dogecoin) primarily because of the traction their close association with Elon Musk earned them.
SafeMoon has, therefore, had a hard time getting back to its pre-market crash price highs, and its price action has been rather erratic in the last half of 2021. Nonetheless, the DeFi token has maintained an uptrending price action, and the CoinMarketCap reports that its overall ROI currently exceeds 10000%.
Like all cryptocurrencies, SafeMoon prices are hugely reliant on the performance of the overall crypto market, which takes a cue from Bitcoin’s price action. Now that Bitcoin has been sending out bullish signals, SafeMoon investors want to believe that if it eventually breaks into a price run, the resultant ripple effect in the crypto market would help inspire a SafeMoon price rally.
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So, Will SafeMoon (SAFEMOON) Reach $1?
Realistically, the chances of SafeMoon ever getting to $1 are rather slim even when you factor in the altcoin’s 5% per-transaction burn rate, upcoming bull rallies, and even the ever-growing community support. And it is easy to see why, especially when you look at its maximum coin supply.
Today, for instance, there are more than 585.536 trillion SAFEMOON tokens in circulation. A per-token valuation of $1 would, therefore, bloat the SafeMoon market cap to more than $585.536 Trillion, more than 200X the current total crypto industry market cap - which is not feasible. Not in the foreseeable future, at least, even with the burning of SafeMoon tokens.
Furthermore, unlike most other cryptocurrencies like Bitcoin and Ethereum that have real-world use cases, SafeMoon is just a meme currency that derives value solely from speculation. This is to say, even though there is a meaningful buying force behind the altcoin, it cannot be relied upon to help push the meme currency’s value towards $1.
The most optimistic price projections we have about SafeMoon’s future price action are provided by PricePrediction.net who believe the altcoin could grow by 3600% to hit $0.000157 by the turn of the decade, and another one CryptocurencyPricePrediction whose technical analysis indicates that SafeMoon token prices might rise by 13000%+ to break above $0.00058 by December 2030.
Simply put, you will have to wait for way longer to see SafeMoon prices reach $1.
Read Also: SafeMoon Price Predictions
Will SafeMoon Eventually Reach $5?
There are even slender odds of SafeMoon token prices ever reaching $5 in our lifetime and for good reason. Look at it this way, to get to this price level with its sizeable maximum token supply, SafeMoon would need to grow its market cap to around $2.9 Quadrillion, which is unfathomable.
If you listen to different crypto experts and analysts and even some of the more experienced crypto investors, you will notice that they appreciate this fact. They have even shifted the debate about SafeMoon and most meme currencies’ future price action significantly.
While they put forward commentaries about the possibility of Bitcoin reaching $100k before or in 2022, as well as the possibility of Ethereum market cap flipping Bitcoin’s in the next 10 years, they aren’t as eager to discuss when meme currencies like SafeMoon will reach $1. Looking at most of their reviews and going through their YouTube channels, you will notice they are paying more emphasis on how much you can make by investing in SafeMoon and less on whether/when it will hit specific price limestones.
What Will SafeMoon Be Worth In 2025?
Well, despite the dovish crypto expert opinions about SafeMoon’s journey towards $1, the majority of market players are confident that the altcoin’s prices will continue rising in the foreseeable future. They expect it to be way more valuable in the next four years than it is today.
Crypto experts from Cryptonewsz, for instance, expect developments within the SafeMoon network, a budding SafeMoon community, and continued investor interests in meme currencies to help SafeMoon sustain its current uptrend. By the end of 2025, they expect the altcoin to be trading at around $0.0000218.
Analysts at Economy Watch are also convinced that SafeMoon prices will most likely continue uptrending for the next few years. They argue that such developments on the SafeMoon network as the launch of the SafeMoon wallet and future events like the launch of the SafeMoon exchange and listing by popular exchanges would also give the altcoin a major value boost. By the end of 2025, they expect SafeMoon to reach around $0.000025.
Check Out: Could Safemoon Be A Millionaire-Maker?
Conclusion: Should You Buy SafeMoon (SAFEMOON)?
Going through this post and numerous other crypto expert commentaries and forecasts online, it dawns on you that SafeMoon will most likely not get to $1 any time soon. And some of the factors holding it back from hitting this milestone include its overblown maximum token supply, the fact that it is overshadowed by the likes of Dogecoin and Shiba Inu, and possibly because it has no real-world use case.
The fact that its prices are expected to continue rising over the next four years, however, says that SafeMoon is worth buying. Even though no one expects its price to reach $1 or even $0.01, they still expect its value to continue rising, effectively earning SafeMoon speculative investors massive profits.
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