Cryptocurrencies are volatile in nature. Their value keeps on changing every now and then. Safemoon is new crypto and experts are predicting its bright future. In this post, we will discuss will Safemoon reach $1 or not.
SafeMoon was launched in March 2021 on the Binance Chain Blockchain. It is ranking in the crypto market at 3024 positions. Since its launch, it has continued to rise. Earlier Safemoon V1 was in the market, and then Safemoon V2 was launched. The Safemoon charges 10% as token charges and 5% on redistribution to token holders and for the direct-to-wallet transactions.
We will be discussing more SafeMoon and its market value. We will try to answer the question Will SafeMoon reach $1. Without wasting time, let’s start with Will Safemoon Reach $1 or not?
History Of SafeMoon Crypto
Safemoon Crypto was launched in March 2021 with an initial price of $0.000000001. People soon developed an interest in this new crypto, within a month its price reached $0.00000157. For two weeks, it stayed on this price. Soon after that, its price almost doubled to $0.0000029 in April. To date, Safemoon is raising and is considered among the cryptos for investment.
Also Read, NFTs Vs Cryptos? Which One Is The Best?
What Is The Market Value Of Safemoon?
The current market value of Safemoon v2 is $0.001226 with an increase of8.03%.
The cryptocurrency community has a huge belief that the SafeMoon price will continue to rise over the next few years. However likely, it will not reach $1 in the next few years. However, it will take a long time to reach there. Some crypto experts are convincing that the value of the meme coin will not come close to a cent in the next five years. In contrast, several social media campaigns believe that SafeMoon fans rally towards the dollar.
Is SafeMoon A Safe Crypto?
Here are some factors that will help you understand if you should invest in Safemoon or not. Most people think Safemoon is a good investment because of the following pros:
- The payment process speed is fast and the transaction charges are low.
- It does not require banks to perform payments.
- Easy to store and protect.
- Accepts payments from any source.
- All transactions can be done from your mobile phone.
- Protected by the blockchain network, the data is stored on the public ledger to ensure the safety of the records.
Will SafeMoon Reach $1?
Before we answer this question, let’s take a look at the table below.
|Fully Diluted Market Cap||$1,245,236,918|
To answer this question, we will perform some basic calculations.
Circulating supply – 585,536,623,226 or 585,536.37B SAFEMOON
Maximum supply – 1,000,000,000,000,000
let’s take supply between 800B and 1 trillion. To get more realistic results circulating supply will be around this number only by five years or more from now.
800,000,000,000 X 1.00= 800,000,000,000 market cap
OR, 1,000,000,000,000 X 1.00= 1,000,000,000,000 market cap
Market cap when it went to all-time high 0.338272 cents:
585,536,623,226 x 0.338272 = 198,070,644,612 or 198B
This is an achievable target as it is below the economy of the USA which is in Trillions. For SafeMoon to reach the target of $1, it needs to grow by more than 800%.
How To Buy SafeMoon?
If you are looking to purchase SafeMoon and could not find it, here is a guide. SafeMoon is not available on every wallet. Even you cannot purchase SafeMoon from Coinbase Wallet. To buy SafeMoon follow the steps.
- Open a Binance account: You need a Binance account to purchase SafeMoon. You will just need an email and password to create this account.
- Purchase Binance Coins: This is called PancakeSwap. To do this swap, you need to purchase Binance coins which will be swapped against Safemoon.
- Download MetaMask Wallet: You need to create a MetaMask wallet to complete the transaction. Choose custom RFP to swap the cryptos. Use PancakeSwap to purchase SafeMoon.
- Make Your Purchase: Pancakeswap is an Automated Marker Maker, it will allow you to choose a SafeMoon token, and you will be able to swap tokens in your wallet for SafeMoon.
- Use a hardware wallet: This is an optional option. To securely store your SafeMoon cryptos and other cryptos we recommend using hardware wallets. Here is a list of the best hardware wallets for you.
We hope after reading this post, you will be able to understand the future of SafeMoon. We have also discussed its current market value and we have tried our best to answer the question will SafeMoon reach $1. At last, we have guided you on how to purchase SafeMoon as it is not supported by some popular crypto wallets.
Keep exploring our website to know more about Cryptos.
Frequently Asked Questions
Q1. What Price Could SafeMoon Reach?
Experts are predicting SafeMoon to be $0.0000056193 this year and $0.0000166265 in 2028. For SafeMoon to reach $1, it’ll take a long time.
Q2. Is SafeMoon A Good Buy?
The total current market value of SafeMoon is close to $1 billion. In terms of market dominance, it is ranking at 214th position. So, it is not bad to invest in this Crypto.