SafeMoon coin is one of the new cryptocurrencies that are surprisingly rapidly rising in price after its launch in March 2021, but what are Safemoon coins?
In general, Safemoon is the same cryptocurrency like Bitcoin or Ethereum. SafeMoon Protocol is a decentralized finance (Defi) token.
The SAFEMOON token ranks on Coinmarketcap at #213 at the moment and has reached a market cap of over 1 billion USD at a price of $0.000002067. What’s interesting is that it includes a new altcoin that is getting an overwhelming response from crypto enthusiasts.
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- 1 What is SafeMoon protocol?
- 2 How does SafeMoon coin work?
- 3 What does SafeMoon coin do?
- 4 Can Safemoon coin be mined?
- 5 Which exchange has Safemoon coin?
- 6 Is SafeMoon coin a good investment?
- 7 SafeMoon coin price prediction 2021-2028
- 8 SAFEMOON forecast 2021-2025
- 9 SAFEMOON technical analysis
- 10 Final Thought
What is SafeMoon protocol?
SafeMoon Protocol is a decentralized financial token. Refers to the SafeMoon.net site token has three functions that take place during each trade: Reflection, LP Acquisition, and Burning.
The process is a combination of an RFI token and a protocol that generates automated liquidity.
According to an article from Thearmchaintrader reports that in the future Safemoon will launch a Non-Fungible Token (NFT) for charity projects and crypto education applications.
SafeMoon is hereby offering solutions to several problems such as price volatility which is common with other digital coins.
What is makes SafeMoon Unique?
SafeMoon belongs to altcoins, which are blockchain-based digital currencies that are generally similar to Bitcoin, but with some distinct differences and functions. When did Safemoon first launch? SafeMoon First launched in March 2021 and has managed to amass over 1 million users.
SafeMoon has a unique feature where they charge a 10% fee to anyone who sells their token, of which 5% of the fee is redistributed to all other SafeMoon coin holders.
It aims to reward those who don’t sell their coins and of course, by reducing SfeMoon coin sales, the price of the coin remains stable.
SafeMoon safely to the moon
SafeMoon is a community coin created as a critique of Bitcoin for deviating from the coin’s original purpose. Where Bitcoin should be a global payment currency but is now turning into a traded commodity. So the price of Bitcoin very fluctuates.
SafeMoon at least charges a fee that encourages owners to not only buy the coin for resale again in the short term but to hold it for a longer time.
SafeMoon takes a more serious look at the Dogecoin meme that has the slogan “Go To The Moon” and SafeMoon replies with “Safely to the Moon.”
How does SafeMoon coin work?
How SafeMoon works are simply mentioned earlier, that anyone who sells SafeMoon will be charged a 10% penalty.
Of the 10% fee, 5% is distributed to token holders. And the other 5% is divided in half in 50/50 portions. One half is for the BNB contract and the other half is automatically paired to the Liquidity pair Pancake Swap.
The SafeMoon whitepaper states that there are four steps in the process this protocol works.
- First Before launch Dev will burn all tokens in Dev Wallet.
- The second step is using DxSale for a fair launch.
- In the third step, LP locked in DxLocker for 4 years.
- Lastly LP is generated with each trade and locked in Pancakes.
How many SafeMoon coins have been burned
Coin SafeMoon has a total supply of 1 Quadrillion. At the moment the total circulation referring to Coinmarketcap at the time of writing stands at 585,536.37 Billion.
The number of coins burned refers to the official Safemoon website, a total of 422,230,965,564,133 coins has burned. The number of holders is 2,532,047, and the total liquidity is $59,610,399.
Meanwhile referring to the SafeMoon whitepaper, from the total supply of 1,000,000,000,000,000, the number of Burned Dev Tokens 223,000,000,000,000, and the number of Fair Launch Supply 777,000,000,000,000.
Furthermore, to find out the current status of the number of SafeMoon tokens that have been burned you can check on their website.
How many SafeMoon coins are left?
To calculate the remaining SafeMoon coins simply by calculating the total supply minus the circulating supply. Where the total supply of tokens is:
1000,000,000,000,000-585,536,366,402,812 = 414463633597188 SAFEMOON.
This calculation takes data from Coinmarketcap on 20 august 2021. The total circulating supply may change over time, affecting the change in the number of coins left.
What does SafeMoon coin do?
Referring to the SafeMoon whitepaper, what is being done is to try to provide a solution to the problem of cryptocurrency prices. Wherein in general prices can go up quickly, but also prices then drop quickly.
This issue is considered a serious problem by SafeMoon because many stakeholders actually suffer losses due to the rapidly dropping value.
To solve this problem SafeMoon offers Static rewards where the reward amount is based on the volume of tokens traded.
With this mechanism, it is hoped that early adopters will not sell tokens after getting a high amount which can eventually decrease the value of tokens in the market.
Therefore, adopters who sell tokens are actually charged a 10% penalty fee, this is what makes SafeMoon a unique altcoin.
Can Safemoon coin be mined?
SafeMoon leans more towards Defi instead of cryptocurrency. It doesn’t use proof of work where miners validate transactions to approve blocks on the chain.
SafeMoon works on the Binance Smart Coin blockchain using Proof of Stake. This means that token holders through their wallets approve transactions that occur on the network by holding their coins.
Technically it is similar to mining but uses a wallet instead of using a computer to mine. This is the reason for getting rewarded coins through proof of stake is cheaper than mining.
Which exchange has Safemoon coin?
At the beginning of the launch, the most tricky part was how to buy SAFEMOON, because not many exchanges support or provide this token.
But over time SafeMoon continues to add to the list of exchanges where users can buy SAFEMOON more easily.
Here the following is a list of exchanges for buying SafeMoon:
- ZBH Exchange.
- MXC Exchange.
With more and more exchanges accepting SafeMoon, making it easier for investors to buy it, of course he needs a SafeMoon wallet. Now they closed Beta version wallet, and will oficially launched 28 August 2021. From streaming twicth.tv SafeMoon CEO John Karony and COO Jack Haines announced on SafeMoon Sunday about the planned launch of the wallet.
Is SafeMoon coin a good investment?
SafeMoon was initially also similar to Dogecoin which was made just for jokes or as a meme coin. SafeMoon itself is an abbreviation of Safely to the Moon as a counterpart to the Dogecoin meme Gong to the Moon.
It is a new altcoin but got a high response after its launch. This token even increased by thousands of percent only took a short time.
There are some things you may not know about the real thing of SafeMoon, the following reasons may change your view of SafeMoon.
- They raised $500,000 at the AMA April 11, 2021.
- Became a trending topic in several countries on Twitter at the beginning of its appearance.
- Being the Most Searched Token on CoinMarketCap for weeks. There are 1,577,992 watchlists.
- Solid and strong community.
- As of April 21, 2021, safemoon holders have reached more than 1 million in just 50 days.
- Opening an office in London.
- Safemoon wants to make NfT and DeFi Exchange in Africa.
Do it with your own risk
However cryptocurrencies including SafeMoon are at their own risk. If you analyze the current price behavior, the value of SafeMoon is not what it was after launch. The price chart tends to be flat indicating low volume.
And maybe you are interested in owning SafeMoon in the long term, the current price is $0.000002074 You will probably buy a large number of tokens at a relatively low price. This means that you are ready to bear the risk of the worst possible value of the SafeMoon token and its functions.
SafeMoon coin price prediction 2021-2028
SafeMoon with the token name SAFEMOON has so far formed an all time high at $0.00001399. It has experienced a massive increase after its launch. Although it has not been even a year but the market cap value has reached more than 1 billion USD.
Several forecasting sites predict the future price of SAFEMOON. The following is a summary of predictions taken from several forecasting sites:
- Analyst foecast predicts that in the bullish momentum the price of SAFEMOON can reach $1, he argues that corporations are involved in charitable projects that attract more buyers.
- Cryptonewsz predicts the price of SAFEMOON at $0.0000085 by the end of 2021. Then predicts 2022 even though there are obstacles but it increases to $0.000011. Prices are higher in 2023 by $0.000015. And it’s going up even more in 2024 to $0.0000171. The increase continues in 2025 to $0.0000218.
- Wallet investors predict SAFEMOON is an awesome investment that will rise in 2022 to $0.000008, and increase even higher in 2026 to 0.000031.
- Gov Capital has a similar view, he predicts the price will rise 194% in the next one year, and reach $ 0.000014 in the next five years.
- Digitalcoinprice predicts SAFEMOON to increase gradually from year to year. 2021 to $0.0000030623. 2022 to $0.0000036840. 2023 to $0.0000042610. 2024 to $0.0000050878. 2025 to $0.0000062337. 2026 to $0.0000071590. 2027 to $0.0000081394. 2028 to $0.0000090608.
SAFEMOON forecast 2021-2025
The pandemic, which has not yet passed, could have an impact on many sectors and may influence investors’ behavior in selecting assets for hedging.
Assets that are considered the safest from possible inflation will be more in demand. SafeCoin seems meaningless for this purpose. But large institutions may try to take short-term gains. So that it becomes a concern for the possibility of pump and dump manipulation.
Market uncertainty due to the pandemic can lead to high deficits even in developed countries, and it can also have an impact on the crypto market in general and SAFEMOON in particular.
SAFEMOON technical analysis
In the weekly price history pattern, SAFECOIN started to form a reversal wave with the bullish market tendency to dominate more in the analysis on August 21, 2021.
The price range formed in the time frame with the resistance zone at $0.0000022 with a low of $0.0000014. The movement of the week is still within that price range. Although bullish pressure dominates, the price has not been able to cross $0.0000022. So this is still a focus area for further analysis.
While we look from the monthly time frame, there we get a more comprehensive view, where the price has bottomed out below the $0.0000016 line and started to rise periodically.
Even though it is still very low compared to the all time high price of $0.00001399, positive sentiment is starting to show a price increase chart. News of the official launch of the wallet can also trigger a rise in the price of the token.
We also look for a daily time frame view. This gives a pretty strong bullish signal with daily volume of over 18 million USD almost close to 19 million with 39% volume increase. Further the price is expected to reach $0.0000024 at least in September.
SafeMoon is a relatively new altcoin but has shaped public opinion which became a trending topic in its early days. This token is also on the watchlist by one and a half million people.
Although initially only as a meme, it seems that the development team is starting to get serious about managing this token. In search, SAFEMOON is also one of the most sought-after cryptos.
Note:This article is for information only and does not constitute investment advice, each investor is responsible for their own investment.
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