SafeMoon is a cryptocurrency based on the Binance Smart Chain that was launched in early 2021. In this short guide, we seek to answer the question on many people’s minds – is SafeMoon a good investment?
To aid your decision-making process, we discuss SafeMoon and SafeMoon V2’s performance since it was launched, future price predictions, and more.
Is SafeMoon a Good Investment? Our Summary
SafeMoon is a decentralized finance (DeFi) token and migrated to SafeMoon V2 (SFM) in December 2021.
A central part of DeFi is that trading on peer-to-peer chain networks can take place without the involvement of centralized entities like banks or governments – SafeMoon was designed to encourage long-term investing while discouraging short-term trading.
This is because a fee is charged on all transactions involving SafeMoon, which attempts to prevent people from selling.
As we explain shortly, holders of the token receive a portion of this as dividends. This is a way for cryptocurrency investors to earn a passive income.
SafeMoon is widely considered to be a meme token. The project is one of the most talked-about cryptocurrencies in its category, after the likes of Shiba Inu and Dogecoin.
The SafeMoon token was released in March 2021 and quickly gained popularity before dropping and then migrating to a new contract – we would not recommend investors buy SafeMoon V1 (SAFEMOON) as that has essentially no utility or volume.
Whilst the V2 coin (SFM) has no real utility, it also claims to be the world’s fastest-growing cryptocurrency. If you want to invest in cryptos under $1, SafeMoon could be a good choice, with a portion of transaction fees being sent back to investors.
With all that said, is SafeMoon a good investment for everyone?
By the end of this market insight, you should be clear on whether this inexpensive cryptocurrency is a worthy addition to your investment portfolio.
How SafeMoon Has Performed Since Launch & in 2022
As we mentioned, SafeMoon was first launched in March 2021.
As with all the best meme coins, hype caused by strong and loyal communities as well as public figures goes a long way. As such, within a month of its launch, SafeMoon tokens had increased by about 140,000% to an all-time high of $0.000014.
A long list of high-profile celebrities with millions of followers have invested in SafeMoon. This is what caused the cryptocurrency to surge by such a huge percentage. Endorsements came from the likes of DJ Afrojack, Jake Paul, Lil’ Yachty, Nick Carter, Logan Paul, and many more famous faces.
This created a social media buzz that resulted in new exchange listings and increased interest from retail investors.
Due to an influx of investors in SafeMoon, several of the best crypto exchanges had to temporarily stop withdrawals in April.
However, the price eventually declined and by the end of the year, SafeMoon had migrated to a new contract with a huge reduction in tokens at a 1:1000 ratio.
There are now 560 billion SFM tokens in circulation, but the price has struggled throughout 2022.
When you’re asking yourself, ‘is SafeMoon a smart investment?’, studying its previous performance is important.
However, you should also look at more recent price action. As we touched on, SafeMoon was relaunched just a year ago after first launching in March 2021.
- When SafeMoon first launched it would have cost you $0.000000001 per token.
- Soon after the cryptocurrency had jumped to $0.000014 per token.
- As we mentioned, this was largely due to the cryptocurrency being launched into the spotlight on social media.
- The price fell and developers decided to migrate to a new contract.
- After an initial pump, SFM has performed poorly throughout 2022.
By late April 2021, SafeMoon fell to $0.00000421, a correction of around 70%. SafeMoon then bounced – by mid-May the token had increased in value by about 157%. Between late May and October 2021, SafeMoon struggled to reclaim and hold the $0.000005 level.
In September 2021, SafeMoon fell to $0.000001246. The rest of the cryptocurrency market crashed around the same time Bitcoin was declared legal tender in El Salvador.
More recently, SafeMoon opened 2022 at a price of $0.000005585, 60% lower than its all-time high.
SafeMoon V1 is now trading at $0.00000000664, and has not exceeded $500 in daily volume since the start of October – again, we would not recommend buying this coin.
When SafeMoon V2 (SFM) launched, the price initially pumped, rising from $0.0017 to $0.0030 – an increase of 76%.
However, the coin is now trading at just $0.0003559, 79% below that price.
SafeMoon Highs and Lows
In its short price history, SafeMoon has experienced a lot of volatility. This is owing to all sorts of things, but as you know mainly supply and demand.
This is particularly affected by how well-received cryptocurrencies are on social media and online forums.
Below you will see a recap of some of SafeMoon’s highs and lows:
- Launch in March 2021 – $0.000000001
- 20th April 2021 – All-time high of $0.000014, showing an increase of around 140,000% since its launch
- 22nd April 2021 – Plummets to $0.00000421, a drop of about 70% in 48 hours
- May 2021 – SafeMoon V1 pumps to $0.00000982, an increase of over 157% in less than a month
- September 2021 – A little over four months later, SafeMoon falls by almost 88% to $0.000001246
- October 2021 – Increases to $0.00000624 – in a month this is a rise of 400%
- December 2021 – SafeMoon V2 (SFM) launches at a price of $0.0017
- January 2022 – SaveMoon V2 reaches all-time high of $0.0030
- March 2022 – $0.0000004948, SafeMoon is 96% cheaper than it was at its all-time high
- October 2022 – SafeMoon V1 drops to $0.000000006 with volume below $500 per day
- November 2022 – SafeMoon V2 trading at $0.0003559, 79% below its all-time high.
At the time of writing, SafeMoon V1 is hovering around the $0.000000006 mark and should not be bought, while SafeMoon V2 costs $0.0003558 and is up 23% in a month but down 86% in 2022.
SafeMoon Price Prediction
DeFi is growing in popularity and if SafeMoon continues to develop in terms of utility, there’s no reason it couldn’t have a part to play.
With that said, there are thousands of cryptocurrencies in this space, which means it could fail to stand up to the competition.
Price predictions on cryptocurrencies are entirely subjective. For instance, where one analyst might predict SafeMoon will reach highs of $5 per token by 2025, whereas another market commentator might speculate it hitting $0.25.
As such, take price predictions with a pinch of salt and try to carry out research of your own.
SafeMoon Utility – Is It Investable?
When you invest in cryptocurrency, there are a plethora of digital assets to choose from, and whilst some have plenty of uses, others lack utility.
As we touched on, SafeMoon has had multiple endorsements from celebrities, ranging from UFC fighters and NBA stars to DJs, band members, and YouTube celebrities.
These high-profile SafeMoon investors have a combined following on social media of millions if not billions of people. This usually bodes well for so-called ‘meme’ cryptocurrencies but still begs the question, does it have any actual use case in the real world?
One of SafeMoon’s partnerships included Simplex. The two collaborated to offer integrated, streamlined crypto wallets to the masses.
The project has also collaborated with EverGrow. As a result of this alliance, EverGrow Coin may now be exchanged on SafeMoon Wallet. The SafeMoon Wallet is one of the new features added to its V2 update to improve its crypto performance.
This cryptocurrency’s V2 update also aims to increase the usefulness of each transaction, allowing the SafeMoon ecosystem to grow. Each transaction contributes 1% to the SafeMoon growth fund, burns 2% of the total token supply, and generates 3% liquidity.
- A 10% charge is applied on SafeMoon transactions.
- This encourages investors not to sell so should appeal to long-term traders.
- Not only that but 5% is paid to existing SafeMoon holders, the remaining 5% is divided with Binance Coin and added to SafeMoon’s liquidity pool on PancakeSwap.
These incentives allow SafeMoon investors to earn passive income with the goal of reducing at least some of the volatility experienced. With that said, no cryptocurrency is a safe bet and SafeMoon is still new to the market and has suffered a lot through the 2022 bear market.
Whether SafeMoon is the right option for you will depend on your appetite for risk.
Where to Buy Cryptocurrencies
eToro is one of the best trading platforms to facilitate your cryptocurrency investments. The platform is completely safe as it’s registered with FinCEN and FINRA, as well as holding a regulatory license from financial bodies like ASIC, CySEC, and the FCA.
When you place an order to buy cryptocurrency, you will only pay the broker 1% of the value of the position. This is competitive, and also fixed, so you know where you stand at all times. There is a varied range of cryptocurrencies, small, medium, and large-cap.
Furthermore, all supported digital currencies can be purchased for as little as $10, due to the platform’s support of fractional crypto investing. The minimum deposit is $10 and US investors aren’t required to pay a transaction fee, regardless of the payment type you opt for.
Accepted payment methods are inclusive of e-wallets like Skrill, PayPal, and Neteller. You can also fund your impending investments with a credit/debit card, wire transfer, or ACH. If you wish, you can create a diverse portfolio of crypto assets by investing in copy trading.
This means you allocate funds to a seasoned trader and whatever they choose to buy or sell will be copied into your portfolio. The eToro platform is super easy to use. You can invest in crypto assets and store your tokens within your personal portfolio. You can also download the free app by eToro so you can buy and sell cryptocurrencies on the go.
Alternatively, download the crypto wallet by eToro. This includes advanced security features and a backup phrase just in case you ever need to recover your wallet.
Cryptoassets are a highly volatile unregulated investment product.
Should I Buy SafeMoon?
If you are still asking yourself ‘is SafeMoon a good investment?’, you will see a quick summary below to help you decide.
- SafeMoon benefits from high-profile celebrity endorsements
- In a short period of time, SafeMoon has accrued millions of investors and a loyal online community
- The project has partnered with EverGrow in a bid to become as popular as the likes of Dogecoin and Shiba Inu
- In 2021, SafeMoon collaborated with Simplex to create a slimline crypto wallet
- SafeMoon V1 is no longer a viable investment and should be avoided
- SafeMoon V2 pays token holders a 5% dividend
Despite some positives surrounding SafeMoon, it’s important to remember that this cryptocurrency is still highly risky.
Not only that, but SafeMoon lacks any noteworthy utility.
If you do decide to invest in SafeMoon, see our article on how to buy SafeMoon to do so safely.
Is SafeMoon a Good Investment – Conclusion
In this guide, we’ve highlighted whether or not SafeMoon represents a good investment and talked about everything you need to know about its performance.
For risk-averse investors, SafeMoon may not be a good purchase because of its volatility and limited utility.
Generally, we would recommend investing in projects that offer more utility – we have highlighted two such protocols below.
Dash 2 Trade – Crypto Analytics and Intelligence Platform
One such project that is among the best utility tokens is Dash 2 Trade, a new trading and investment platform that aims to help its users maximize their profits that we’ve named the best crypto to invest in.
It will do that by providing a range of tools and insights to help them make more well-informed decisions.
Dash 2 Trade is currently in its presale and has so far raised nearly $6 million in a little over two weeks.
D2T tokens – which provided access to the platform on a monthly subscription basis – are currently on sale for just $0.0513.
By the final stage of the presale, tokens will sell for $0.0662 – an increase of 29% – with 700 million of the max 1 billion supply on sale, with no vesting period.
Dash 2 Trade will offer its users various data points and insights to help them make better decisions on their holdings.
The dashboard will send out crypto trading signals to highlight buying and selling opportunities in the market, and analyze on-chain data and track social media sentiment to spot new trends.
For traders, there will be a range of professional-grade metrics and various tools to help with consistent trading.
They include automated trading APIs and a back-tester that allows users to test strategies without risking capital.
Dash 2 Trade is also building a bespoke scoring system to rank the best new crypto presale projects – looking at the project, its tokenomics, team, and utility to give it a score out of 100 and ensure investor confidence.
The platform will also send out new coin listings and alerts to help investors take advantage of the market.
The project is developed by a doxxed and KYC-verified team that was behind Learn2Trade, a crypto and forex trading platform for beginners that has 70,000 global users.
Read the Dash 2 Trade whitepaper for full information and the Telegram group for the latest news.
A full guide on how to buy D2T tokens during its presale can also be found.
Dash 2 Trade - New Gate.io Listing
- Also Listed on Bitmart, Changelly, LBank, Uniswap
- Collaborative Trading Platform Token
- Featured in Bitcoinist, Cointelegraph
- Solid Proof Audited, CoinSniper KYC Verified
- Trading Community of 70,000+ Members
IMPT – Eco Protocol Helping to Fight Climate Change
IMPT is another top alternative to SafeMoon and is one of the best new cryptocurrencies on the market.
Investors rushed to buy into the high-potential project which sold out the first stage of its presale four weeks ahead of schedule after raising $11 million in three weeks.
The project has almost unrivaled utility as its protocol will utilize blockchain technology to help fight the climate crisis.
It will do that by transforming carbon credits into NFTs and making them tradeable on the open marketplace so individuals and investors can reduce their carbon footprints.
Carbon credits are permits that allow holders to emit carbon dioxide into the air by offsetting their carbon footprint through funding conservation projects.
One carbon credit is equal to one ton of CO2, and while the voluntary market is worth just $2 billion annually now, it could rise to $100 billion by 2030, according to Bloomberg.
IMPT users will be able to buy, sell, or hold their carbon credit NFTs as long-term investments, while they will be less open to fraud as they exist on-chain.
Carbon credits can also be earned through shopping, with IMPT allowing tokens – which can be converted into credits – to be earned.
More than 10,000 retailers have partnered with the project to offer IMPT tokens as a percentage of sale, with the likes of Samsung, Microsoft, and LEGO among them.
IMPT is now in stage 2 of 3 of its presale, with tokens on sale for $0.023, and the final phase will see tokens increase by 22% to $0.028.
The project, built on Ethereum, has a fully doxxed and KYC-verified team, and an audited smart contract.
Presale tokens have no vesting period and will be available once the presale is sold out, with 1.8 billion (60%) of the 3 billion supply on sale.
Join the Telegram group or read through the full whitepaper for more information on IMPT.
Read our guide on how to buy IMPT tokens during the presale.
IMPT - New Eco Friendly Crypto
- Carbon Offsetting Crypto & NFT Project
- Industry Partnerships, Public Team
- Listed on LBank, Uniswap
- Upcoming Listings - Bitmart Dec 28, Gate.io Jan 1st