Disclaimer: The datasets shared in the following article have been compiled from a set of online resources and do not reflect AMBCrypto’s own research on the subject.
Safemoon may have the 2991st spot on CoinMarketCap, but this seemingly small crypto is wildly dominant on social media and enjoys popularity among several celebrities. BSC Daily reported last month that SafeMoon was the top BNB Chain project that had captured the most social volume.
An investor can acquire a considerable amount of SFM with a relatively small investment, given that the token is currently trading at $0.0003178, with a market cap of $179 million and $645,529 traded over that past 24 hours. However, choosing to purchase a crypto just because its selling at a low price is neither an informed, nor a wise decision.
The price action of tokens like SafeMoon is largely dependent on the hype around the project and its relevance on social media. Influencers and pump groups often exploit such tokens due to their social capital and subject it to pump and dump schemes. As per data from CoinMarketCap, SafeMoon has seen 2 such pump and dump schemes over the past 30 days. On 25 August, the token rallied by a whopping 1489% within a matter of hours, going from $0.0000001069 to $0.00000169. Similarly on 9 September, SafeMoon was pumped over 400%.
SafeMoon saw tremendous growth in 2021, however, this year appears to be difficult for SafeMoon since all cryptocurrencies are down. However, the V2 mark has made a huge splash for SafeMoon.
In fact, some platforms like Telegaon predict SFM’s price to reach a maximum price level of $0.0025 in 2022 with an average price of $0.0015. SafeMoon, however, may hit the minimum price threshold of $0.00089 in 2022 if there is a bearish run. In 2022, a bullish movement is anticipated, one that might send the SFM Coin to the moon.
So, why do these projections matter?
Since its introduction, SafeMoon has outperformed the majority of the top meme coin projects’ ROI, where most of them have been operating for a year. As one of CoinMarketCap’s most popular pages, SafeMoon has had more visits than Bitcoin and Ethereum combined. SafeMoon received a breakout reaction, or nearly a million searches, according to Google’s trending statistics of the globe filter.
In 2021, SFM significantly repaid its investors. Given how volatile the crypto-market is, it is impossible to predict the price of SafeMoon or any other cryptocurrency in the future. However, given that SafeMoon switched to V2 in December 2021, the performance of SFM Coin in the future is promising. This coin is actively promoted by the SafeMoon army, which works nonstop day and night.
This article will take a took at SafeMoon’s recent market activity, paying particular attention to its market cap and volume. With the aid of datasets like non-zero addresses, whale transaction counts, etc., the same will be expanded upon. The most well-known analysts’ and platforms’ predictions will be summarized at the end, along with a look at the Fear & Greed Index to gauge market sentiment.
SafeMoon’s price, volume, and everything in between
SafeMoon was launched in March 2021 with a supply of 777 trillion tokens. Its rising popularity, coupled with the crypto-boom of 2021, proved to be extremely successful for the coin as its price hit an ATH by around mid-April. By the end of October, its price continued to hit new levels and sustain previous levels whenever drawdowns came to be.
Come Q2 2022, however, and the token completely collapsed, mirroring the gloomy picture of the cryptocurrency industry.
The popularity of SafeMoon earned it a huge number of users. Launched in March 2021, its market capitalization grew exponentially within a matter of a few weeks, peaking at $5.75 billion in mid-May. By the end of October in 2021, SafeMoon’s market cap was worth $3.65 billion.
During the crypto-collapse of 2022, the market capitalization…
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