SAFEMOON has been one of the most popular tokens in the 2021 bull market. Can it mount another rally?
SafeMoon has arguably been the number one ‘breakout star’ of the crypto world this year. SAFEMOON became a hot commodity in April, after recording gains of several thousand per cent in just a few days. The coin is now in an uptrend again, despite bearish conditions in the broader market.
Continue reading to learn more about SafeMoon, including a summary of the project and an analysis of the current buying opportunity. Firstly, though, take a look at our recommendations for where to buy SafeMoon today.
How & where to buy SafeMoon in the UK and elsewhere
SafeMoon is now available on multiple brokers and exchanges, thanks to its newfound popularity. You can purchase the token by signing up with one of our recommended partners, depositing funds into your account, and placing an order to buy SafeMoon.
Decentralised exchanges (DEXs) are used by some investors, but these are unregulated platforms that simply can not offer the same security assurances as licensed brokers. Brokers also offer a much better user experience overall, and as such are our preferred way to buy SafeMoon.
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What is SafeMoon?
SafeMoon is a decentralised finance (DeFi) protocol built on the Binance Smart Chain (BSC). Its innovative tokenomics include burning a proportion of transaction fees to reduce the supply of SAFEMOON tokens. According to the laws of supply and demand, this is a forcing function for price.
SafeMoon plans to launch its own decentralised exchange this year, as well as a nonfungible token (NFT) marketplace, which will generate further transaction fees. SAFEMOON holders will then receive a portion of these fees, meaning long term HODLers are likely to be rewarded.
Should I buy SafeMoon today?
SafeMoon appears to be reversing a months-long bearish trend, potentially forming a bottom to the current bear market. In this case, there is arguably no better time to buy. Up 8.4% on the day, there is potential for both short-term and long-term gains.
With plans to build on the existing popularity of the project by creating an NFT marketplace and exchange, SafeMoon could easily become one of the 50 top crypto coins. The fees from these functions would be partly awarded to long-term holders, so buying now could give you a stream of passive income in the future.
SAFEMOON price prediction
The previous heights of SAFEMOON feel like an age ago now, but with the bottom potentially in, it could be only up from here. Currently at $0.000003389, the SAFEMOON price could rally to its monthly high around $0.00000481 if the uptrend continues.
If the bull market resumes in full, many analysts expect previous highs to be revisited near $0.00001.
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Author: Joe Khalique-Brown