The crypto market has been growing at an unprecedented pace in recent times. What started with Bitcoin in 2009 has grown into a market with more than 21,000 cryptocurrencies. Bitcoin and Ethereum remain two of the most prominent cryptos, but many new cryptos also find their space in the market.
The SafeMoon crypto is one of those emerging cryptos struggling to find its place in this volatile and competitive market. Many recent developments have been associated with the Safemoon crypto stock prices. Does it make sense for you to invest in this crypto? Let’s find out!
What Exactly Is Safemoon?
The Safemoon project is one of the latest additions to the list of cryptocurrencies in the market. The crypto project was launched in 2021, which leverages a community-driven approach toward decentralized financial systems. Following its launch, the token was seen in more than 2.9 million portfolios by January 2022. The founders of the crypto project ensure safe gains to prevent any inevitability of bubbles.
Many unique characteristics are associated with this token, allowing its founders to have a very long-term vision for its future. The crypto project enables it to generate seamless passive income, but there are also some penalties for selling the token in an attempt to discourage the sale of the token.
Defining Features Of The Safemoon Token
Before we dive into the nuances associated with the Safemoon con prices, it is essential to understand some of the defining features of the token. Crypto is designed to overtake the volatility aspect. It does so by rewarding the token holders regularly. The Safemoon crypto relies on three functions:
- Reflection: This static reward is designed to correct mining rewards issues. It does so in two ways: a conditional reward system based on the volume of crypto trading. This mitigates selling pressure from early adopters of the token. The other way is encouraging token holders to collect higher payments based on the number of tokens they own.
- Liquidity Pool Acquisition: The whitepaper of Safemoon crypto refers to the automated liquidity pool as the secret sauce in the mix. This works like a solid price floor for every seller and buyer. This design ensures long-term stability, where sellers might be penalized for selling their coins. Every transaction here will attract a fee of 10%, discouraging people from selling the token and preventing sudden dips.
- Manual Burn: In the case of most cryptocurrencies, they undergo a process called token reduction. Here, a portion of the circulating tokens is burnt at regular intervals. This means permanently removing the tokens from a blockchain network, further reducing circulating tokens and stabilizing their market value.
Most cryptocurrencies rely on continual burning right from the start, but Safemoon practices manual burning. This ensures better benefits for long investors while allowing the public to monitor and track the burning ordeal.
Safemoon Crypto: Historical Price Movement
The SAFEMOON token initially powered the Safemoon crypto. But this changed with the launch of the SFM token in December 2021 when it opened the market for a price of $0.0017. This was followed by a bullish run taking the token’s value to $0.0029 on the last day of 2021.
By the 4th of January 2022, the SFM token reached its all-time high value of $0.007232. But this was followed by a bearish run, with the token bottoming at just $0.001537 on the 22nd of January 2022. Things only got worse with Russia’s invasion of Ukraine and many infamous devastations in the crypto market.
By May 2022, the Safemoon crypto prices dipped to $0.0002773 and eventually fell to $0.0004064 by the 15th of June 2022. But this was followed by a slight recovery taking the token’s prices to $0.0006581 on the 17th of June. But this was again a short-lived glory since the token prices again fell to $0.0003726 by the end of July 2022.
There has not been any noteworthy recovery in the token’s prices since then. As of December 2022, more or less one year after the launch of the SFM token, it has a market value of $0.0002291. Besides that, the Safemoon market cap stands at $128,357,748 and a 24-hour trading volume of $311,114. Lastly, there are about 560,358,646,072 SFM tokens currently circulating in the market.
Safemoon (SFM) Crypto: Price Prediction
The crypto market has taken many blows since the start of this year. As a result, most cryptos have been suffering greatly, and Safemoon here is no exception. But despite all the adversities, the token still has a chance to recover with enough time. Most projections predict the token will close in 2022 with a valuation of about $0.000837.
Furthermore, most data and information indicate the Safemoon token has the potential to reach a valuation of at least $0.0007 by the end of 2025. This is a step in the right direction for this unique token which has the potential to make great changes in the existing crypto sphere.
By 2030, the Safemoon token will finally reach the $0.01 mark, which could be a game changer for the token.
Is It Worth Investing in Safemoon (SFM)?
Every crypto investment comes with a certain degree of risks associated with it. Evaluating the available data and analyzing market trends is important for investors and traders to make informed decisions. One must also consider the personal implications of investing in any crypto, given the volatile nature of this market.
That said, Safemoon is one of those few crypto projects that ensure unmatched stability for its users. This is because the token has some of the most distinct characteristics that help it curate a strong foundation that drives growth. Besides that, most Safemoon token price movements have been relatively predictable. Given these characteristics investing in the Safemoon token might be alright.
Crypto investments mean signing up for volatiles and unpredictability. No crypto investment can guarantee you returns in the near or further future.
Thus, you must do your research and due diligence to make these decisions. Once you understand the market better, it will be easier to make more informed decisions.