‘Meme coins’ took over the market in 2021, with projects like Dogecoin and Shiba Inu producing incredible returns for early investors. However, most of these coins are hosted on the Ethereum blockchain, meaning users of other networks have been unable to gain full exposure to their success.
Samoyedcoin looks to change this, becoming the first meme coin to be constructed on the Solana blockchain. With that in mind, this Samoyedcoin price prediction will cover the coin’s prospects for the years ahead before diving into the main factors that could influence the token’s price.
Samoyedcoin Price History
Before diving into our Samoyedcoin crypto price prediction, it’s essential to gain an overview of the token and how it arrived at this point. Put simply, Samoyedcoin is a ‘meme coin’ that looks to capitalize on the considerable success experienced by Dogecoin and Shiba Inu.
Samoyedcoin looks to fill a gap in the market – specifically for those looking to buy dog crypto on the Solana blockchain. As such, SAMO has been designed to offer Solana users a way to participate in the meme coin craze. SAMO uses the SPL token standard, meaning it can be used by Solana’s users to send money in a decentralized manner.
As noted on Samoyedcoin’s website, the project’s primary goal is to act as an ambassador for the Solana blockchain. Solana is still massively behind Ethereum in regards to market cap, so projects like Samoyedcoin are crucial for bringing new users to the network.
However, although Solana’s size pales in comparison to Ethereum, the network is much more scalable and cheaper to use. As noted in Samoyedcoin’s whitepaper, transactions cost just $0.0005 and take only 0.8 seconds to complete. Moreover, SAMO holders can transfer tokens using much less energy than Ethereum-based tokens.
SAMO tokens debuted in April 2021, and apart from a bullish surge in May 2021, they didn’t generate any initial momentum. However, this changed in October 2021, when the SAMO crypto price rallied by over 3,800%, reaching a high of $0.22.
Like most meme coins, this high was fleeting, and SAMO’s price has gradually fallen over the past months. At the time of writing, the Samoyedcoin token price is quoted at just $0.0033 – which is more than 95% below October 2021’s all-time highs.
Before moving on with our Samoyedcoin price prediction, let’s briefly recap what we’ve learned so far:
- SAMO tokens were launched in April 2021 on the Solana blockchain
- First ‘meme coin’ to use the SPL token standard
- The SAMO price surged by over 3,800% in October 2021
- After hitting a high of $0.22 in October 2021, Samoyedcoin’s price gradually fell by 94% over the following ten months.
- SAMO opened 2023 at $0.0095 before moving up parabolically and reaching $0.22. The token then retraced rapidly, and it is currently trading around the $0.0035 level.
Samoyedcoin Price Prediction 2023
Samoyedcoin has emerged as one of the most promising cryptocurrencies on the Solana blockchain, helping attract more market participants to the network. As mentioned in the previous section, Solana is significantly faster and cheaper to use than Ethereum. This efficiency positively affects SAMO, as it makes money transfers using this token more appealing.
SAMO could be one of the cheapest cryptos due to its unique marketing approach. Most meme coins use aggressive tactics to generate demand, such as ‘shilling’ and promotion via influencers. Samoyedcoin’s team avoids using these tactics, instead focusing on organic growth.
While this approach could have been favored by those who were tired of the standard fundamentals used to pump the value of tokens, 2023 has revealed that memecoins are still moving at the whims of the community sentiment. It is because, despite the presented utilities, SAMO moved alongside Bitcoin’s price action.
After opening 2023 at $0.0095, the token quickly pumped and crossed the $0.2 mark after Bitcoin gained ample support. A quick retrace later followed. The downward momentum was strong enough to ignore the memecoin mania that pushed the value of many recently-introduced assets.
And while Samoyedcoin was initially poised to be one of the leading tokens on the Solana Blockchain, SEC’s recent decision to point SOL as a security token has dipped the Solana price and all the tokens associated with it.
These accumulating factors paint a very bearish picture of Samoyedcoin in 2023. But if some upward momentum does happen, SAMO may move up to reach $0.005 by the end of this year.
Samoyedcoin Price Prediction 2024
Looking further ahead, our Samoyedcoin price prediction is based on elements that will help increase SAMO’s longevity. One of the main elements is Samoyedcoin NFTs, which add much-needed utility to the SAMO token. The first even launched collection of NFTs, titled the ‘Genesis Collection’, contains 5,525 pieces of digital art depicting Samoyed dogs with unique traits.
Those looking to make money with NFTs can purchase these digital assets through secondary marketplaces, such as Solanart and Magic Eden. Although the NFTs don’t currently have any notable use cases, the development team has stated that they will be required to enter the upcoming SAMO DAO and participate in ‘Samo Syndicates’.
Details on these features are scarce, although the fact that NFTs will be required can only benefit the SAMO price over the long term. The SAMO token and Samoyedcoin NFTs are closely linked, meaning that when one asset experiences a rise in popularity, it’s likely the other will as well.
Thus, the growth of this NFT collection will play a vital role in whether SAMO could become one of the best future cryptocurrency projects on the Solana blockchain. Assuming the development team can action their plans effectively, we could see the SAMO token price reach $0.031 by the end of 2024.
Samoyedcoin Price Prediction 2025-30
Finally, let’s look at our Samoyedcoin price prediction for 2025 and beyond. Although factors that directly relate to Samoyedcoin will play a massive role in the token’s success, SAMO’s price will also be affected by broader macroeconomic factors.
This is the case with most of the best altcoins, as smaller tokens tend to benefit when investor sentiment is positive. Most investors will remember the period in late 2021 when meme coins like Dogecoin, Shiba Inu, and Dogelon Mars all saw dramatic price increases – evidence of the broader contagion effect.
Unfortunately, rising inflation and interest rate increases have led to a broader ‘risk-off’ sentiment in the market. Once this changes, we’ll likely see more capital flow into the crypto market. In turn, coins like SAMO will benefit from rising liquidity – and if this trend can be sustained, it’ll help drive the price over the long term.
Due to this, we estimate that the SAMO price could reach $0.082 by the end of 2025. Looking further ahead, our Samoyedcoin price prediction for 2030 estimates that the price could rise even higher if the crypto market continues to grow and the development team meets its strategic goals.
Potential Highs & Lows of Samoyedcoin
The table below presents a clear overview of the potential highs and lows noted throughout our Samoyedcoin price prediction, which can be helpful to bear in mind for long-term holders:
|Year||Potential High||Potential Low|
What is SAMO Coin Used For?
When looking for the best crypto winter tokens, it’s vital to ensure they have valuable use cases. With that in mind, detailed below are three of the main reasons why investors opt to acquire SAMO coins.
Low-Cost Money Transfers
Naturally, one of the main tasks that Samoyedcoin is used for is transferring money. Bitcoin paved the way for decentralized transfers to enter the mainstream, and since then, thousands of tokens have emerged offering a similar service.
However, since SAMO tokens are hosted on the Solana blockchain rather than the Bitcoin or Ethereum network, they are ideal for Solana’s users when sending money to others.
As mentioned earlier, SAMO tokens are also closely linked to the NFT space. This is mainly through the launch of Samoyedcoin NFTs, which were released in mid-2021.
Although prospective investors must buy Solana to get their hands on the NFTs, the popularity of these assets still affects the SAMO token. In addition, since SAMO and these NFTs will be crucial in the proposed DAO structure, both assets will remain intertwined going forward.
Finally, Samoyedcoin can be used for speculative purposes. Those looking to make money with cryptocurrency can purchase SAMO tokens in the hope that the price will rise over time.
If the price rises, investors can then sell those tokens and make a return. This approach has proved fruitful in the past – especially in October 2021, when the token’s price surged by over 3,800%.
What Drives the Price of Samoyedcoin?
Investors seeking exposure to the SAMO crypto price must first understand the factors that influence the token’s price movements. Listed below are three of the main dynamics that cause Samoyedcoin’s price to fluctuate.
Firstly, Samoyedcoin’s ‘tokenomics’ are a crucial factor in price movements. As noted on the Samoyedcoin website, 9.25 billion SAMO tokens (66.1% of the total supply) have been burned. As those familiar with the laws of supply and demand will know, a reduction in the supply will naturally cause the price to rise – assuming demand remains the same or increases.
This token burn mechanism makes SAMO a deflationary asset rather than an inflationary one. Ultimately, this is great news for long-term holders, as these tokens tend to showcase upwards price movements over time.
Growth of the Solana Blockchain
The growth of Solana will also affect Samoyedcoin’s prospects. As more decentralized app (dApp) developers use Solana to host their projects, it’ll naturally bring more people to the network.
In turn, this will help grow Solana’s market share and raise awareness of the tokens that are hosted on the network. Thus, Samoyedcoin will likely benefit from this awareness, leading to more holders.
Availability through DeFi Protocols
Although Samoyedcoin is already available through many of the best DeFi exchanges, it still has a long way to go before the token is as accessible as Dogecoin or Shiba Inu. If Samoyedcoin’s team can get the token listed on other major CEXs (e.g. Binance, Coinbase), it’ll make it easier for retail traders to get their hands on the token – which is a significant factor in sustained bullish momentum.
Is SAMO the Best Coin to Buy in 2023?
Before rounding off this Samoyedcoin price prediction, let’s briefly touch on whether SAMO is the best cryptocurrency to buy in 2023. While Samoyedcoin had many waves when it came into the picture, its performance hasn’t been up to speed this year. But while we can’t put the blame of it solely on SAMO’s lack of use case, there are better alternatives in the market with better upsides that are better investment assets.
Here is the best alternative to SAMO to buy in 2023:
Wall Street Memes (WSM)
Memecoins are built around communities that can come together to turn even a perceived “useless” asset into a wealth generator. That idea isn’t limited to the crypto space – Wall Street Bets did it first with its infamous Gamestop short-squeeze that even brought the largest hedge fund companies to their knees.
Wall Street Memes is going with the same idea. It has taken inspiration from Wall Street Bets to create an ecosystem where the community can come together and mobilize to turn even memecoins into legit long-term investments.
Being a memecoin through and through with no utility other than merch to speak off, Wall Street Memes (WSM) has hit its stride as a community-centric token across all social media platforms. The ecosystem’s Twitter account is full of relatable memes and sometimes niche humor, and even the likes of Elon Musk have interacted with it.
That interest and the community drive have bolstered Wall Street Memes’ presale round. Over $6 million has already been raised, and many are saying that WSM could be the one token to get closer to Dogecoin’s popularity.
Samoyedcoin Price Prediction – Conclusion
In summary, this Samoyedcoin price prediction has taken a detailed look at the token’s future prospects, breaking down whether it’s likely to be a success or not. Given its active community and first-mover status on the Solana blockchain, SAMO looks to have all the ingredients needed for a rebound over the long term.
Investors could also look into the brand new promising project Wall Street Memes which we reviewed as an alternative to SAMO. As a memecoin with an established community, WSM might as well be the top crypto gainer in the upcoming months post-launch. This means that the best time to get into the project is now when it is available on presale for a much-discounted price.
Wall Street Memes (WSM) - Newest Meme Coin
- Community of 1 Million Followers
- Experienced NFT Project Founders
- Listed On OKX
- Staking Rewards