The Value of SafeMoon Is Far From Its Old All-Time High. Will it Reach it Again?
2022-04-29 15:35:49
What Could Be The Price Of SafeMoon In The Near Future?
In March 2021, a team of young crypto enthusiasts officially launched the ambitious SafeMoon project. The team presented SAFEMOON token as a deflationary currency and promoted the ‘buy and hold’ philosophy by penalizing sellers and incentivizing holders. Right after its launch, the project had created a lot of discussion about itself and had attracted the attention of numerous people, especially newbies in the world of cryptocurrencies. Between March 14 and April 21 2021, SAFEMOON price increased in value by 23,225%, and then began a steady decline that was interrupted only by a short price recovery lasting just over a month. Right now, its price is 0.000000518 USD, with a trading volume of $59,753.
According to CoinGecko, the all-time-high price of SafeMoon was 0.00001094 USD, which means it has lost around 95%. It is true that most projects take time to finally take off and achieve the so-called ‘fair value’, but so far this is not a very good result. However, according to the opinions of several experts, we should soon witness a change of trend. Will the price of SafeMoon then be able to return to its historic highs?
Right now, we can identify more or less three price levels still to be recovered, respectively: 0.0000024, 0.0000030 and 0.0000060 USD. If Safemoon recovers these levels and surpasses them in an acceptable period of time, then it can get back on track to attacking the all-time high. In the future, it may even reach the psychological threshold of 0.01, but this will also depend on the trend of bitcoin.
In March 2021, a team of young crypto enthusiasts officially launched the ambitious SafeMoon project. The team presented SAFEMOON token as a deflationary currency and promoted the ‘buy and hold’ philosophy by penalizing sellers and incentivizing holders. Right after its launch, the project had created a lot of discussion about itself and had attracted the attention of numerous people, especially newbies in the world of cryptocurrencies. Between March 14 and April 21 2021, SAFEMOON price increased in value by 23,225%, and then began a steady decline that was interrupted only by a short price recovery lasting just over a month. Right now, its price is 0.000000518 USD, with a trading volume of $59,753.
According to CoinGecko, the all-time-high price of SafeMoon was 0.00001094 USD, which means it has lost around 95%. It is true that most projects take time to finally take off and achieve the so-called ‘fair value’, but so far this is not a very good result. However, according to the opinions of several experts, we should soon witness a change of trend. Will the price of SafeMoon then be able to return to its historic highs?
How Accurate Can SafeMoon's Price Predictions Be?
According to what the SAFEMOON token holders write, we can see that they are still quite bullish in terms of price. Conservatives say 0.005 USD, the more extremist ones say they expect the price to reach 0.10 USD (or even 1 USD) in 4 to 5 years. However, these are strong psychological price levels that, in the imaginations of people, translate into very important goals for the future of a project. Unfortunately, very often they do not reflect reality. Long-term price predictions are inaccurate and prohibitive to implement, especially in the cryptocurrency market, which is still very young and not fully regulated. It is true that technical analysis can help you to identify certain price levels, but only from the short term.Right now, we can identify more or less three price levels still to be recovered, respectively: 0.0000024, 0.0000030 and 0.0000060 USD. If Safemoon recovers these levels and surpasses them in an acceptable period of time, then it can get back on track to attacking the all-time high. In the future, it may even reach the psychological threshold of 0.01, but this will also depend on the trend of bitcoin.
Bitcoin Movements Define the Occurrence of the Alt Season.
It is still clear that, in most cases, altcoins are related to bitcoin. A sudden collapse of BTC often causes an even bigger dump of all altcoins, and the same thing happens vice versa. However, there are rare cases where altcoins perform better than bitcoin, usually shortly after it starts lateralizing after a large pump. These past events resulted in a significant and rapid price increase for the majority of cryptocurrencies, when some of these experienced growth from 100% to 400%. This, combined with a hypothetical development of the SafeMoon project (and the consequent increase in adoption), could give it a chance to recover its all-time high and perhaps, to surpass it. If you would like to learn more about SafeMoon, feel free to visit Gate.io exchange website.Popular News
