Safemoon was launched in March 2021. And right from its birth, it has been positively capturing market attention. With its promising tag to reward long-term investors and a price upswing, it managed to make a breakthrough in its first year.
But as we have headed into 2022, the hype of the crypto is seen to be going down. In the market where people are investing in Dogecoin, Bitcoin, Ether, and Shiba Inu, it has become a bit difficult for Safemoon to grab investors’ eyes. As the market price value of the digital coin is going to touch the resistance level, many are predicting that it can be a new start for it.
In this quick guide, we will try to explore the potential of the Safemoon crypto. With that, we will suggest to you whether or not to invest in Safemoon.
What is Safemoon?
Like all the other cryptocurrencies out there, Safemoon is a digital token launched recently in the market. Along with working like other cryptos such as Bitcoin, Dogecoin, and Ether, Safemoon discourages rapid sales of coins by charging a 10% commission on each transaction made. The goal here is to encourage long-term investments. Also, the digital token tends to prevent greater losses when big investors decide to sell their coins.
Along with the continuous burn, Safemoon also offers manual growth which, according to the creators, helps in maintaining the supply of the coin.
Some quick stats about Safemoon Crypto
- After its launch, there are around 2.9 people holding this crypto, according to Utah Business
- There are over 585.536 trillion coins in circulation right now, says CoinMarketCap
- Currently, the crypto coin brings a value of $0.000002111
- The current market cap of this coin is near $1.236 Billion
- The crypto ranks at 210 in the market today
What’s for The Future?
As the reports, Safemoon is all set to bring some exciting things for the people out there. This crypto was invented by a team of 6 leaders who curated new ideas to extend the value and the adoption of the coin in the market.
After the 1st quarter of 2021, the team size doubled and a marketing campaign was started. Now, the company is focusing on bringing some good stuff for the investors.
Here is a list of what you may get in the near future from the Safemoon team.
- The upcoming V2 launch
- A digital app
- A crypto wallet, and
- Some crypto games
- Its own crypto exchange platform
This being said, we all would be keen to look forward to the growth of this digital token in the future.
What’s in The Upcoming Safemoon V2 launch?
After becoming the Crypto Community of the Year 2021, at the AIBC gaming summit, Malta, the digital token is all set to get upgraded to a newer version. This is called the Safemoon v2.
This upgrade will probably help the meme coin to reach a wider audience and increase its use cases. It is predicted that the Safemoon v2 upgrade will encourage more investors to try their hands on, leading to price increases in the future.
Only after the upgrade announcement, we have seen a 7.2% rise in the meme coin value.
The v2 upgrade brings a lot of features that include;
- Making the digital token seamless
- 2-click consolidation process
- A web-swap option, and
- A QA option
What is Preventing It From Being Successful?
Safemoon provides quite pleasurable and colorful decorations for the users. But when it comes to market business, they seem to be falling short.
The entire purpose looks like getting people to buy the crypto and then keep waiting for decades, hoping that the price will increase at the selling point. Apart from that, there are also some issues on the site such as integration with the African markets and Project Pheonix that haven’t been solved yet.
The digital coin is too volatile and charges a commission fee of 10% on every transaction made. These also work as the disadvantages of the coin.
Should You Buy Safemoon in 2022?
When you look at the past few months, crypto has recorded an ascent of around 86%. The current value of the digital coin is nearing $0.00000208.
However, experts say that there is a high chance of Safemoon making a strong comeback in 2022. If the meme coin manages to make an upswing of 55% to a price value of $0.00000321, it may come back into the market.
So yes, if you are really eager to invest in something unique, you should buy Safemoon in 2022.
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Image and article originally from sensextoday.co.in. Read the original article here.