During the previous bullish cycle, we saw the emergence of dozens of coins that seemed to appear from nowhere, yet gained considerable traction. While most market participants focused on the ETH to BTC exchange, some more daring investors opted for riskier assets.
For many of these investors, the added risk certainly paid off, allowing them to make some incredible profits during the bull run. One of these high-risk, high-reward tokens is SafeMoon (SFM), which managed to gather a huge community behind the project.
In this article, we will take a closer look at the fundamentals of this cryptocurrency and try to assess whether investing in it long-term can be profitable. To this end, we will provide a thorough review as well as some price predictions for SFM. Let’s get started.
SafeMoon Review
The founders of SafeMoon took a lesson from the meme community and saw how the strength of the community can drive FOMO for tokens. With that in mind, they created their cryptocurrency completely aimed at consolidating a strong community.
To achieve, this, the SFM token used a safe launch, as the developers burned all their tokens and were put at level with the rest of the community. Additionally, they are focusing on bringing value that is aimed at each SFM holder, instead of just a select few.
Finally, it’s worth noting that the SafeMoon team redeployed a V2 of their contract. The migration reduced the total supply to a 1:1,000 ratio making each token much more valuable and scarce.
Reasons to Invest in SafeMoon
One of the many reasons why people invest in SafeMoon is their community-oriented tokenomics. The taxes of the token are aimed at benefitting all SFM investors.
To be more precise, SFM is a taxable token on the smart contract level, which triggers 4 different actions at each trade:
- 4% of the value of the trade is redistributed to all existing holders, which incentivizes high trading volumes.
- 3% gets added to liquidity pools.
- 2% of the tokens are destroyed at each transaction.
- 1% goes to the SafeMoon fund for growing the ecosystem and supporting builders.
While 10% taxes might seem a bit steep for each trade of the SFM token, investors are looking at the bigger picture. These taxes do not benefit the developers or founders but instead are meant to increase the value of the token in the long run.
What’s more, SFM is an easily accessible token, present on major crypto exchanges, with high liquidity. Consequently, investors can safely assume they will be able to sell the token in case of high price volatility.
SafeMoon Price Prediction
Let’s see what analysts around the internet think of SafeMoon. We’ve gathered different analyses from various reputable sources to provide you with a plausible SafeMoon price prediction. For perspective, at the moment of writing, SFM is trading at $0.000259.
Priceprediction.net provides quite a bullish prediction for SFM. The website is giving some interesting targets for 2023 and 2025: $0.000431 and $0.000913 respectively. For the long-term (2030), the website offers a moonshot-like prediction with a price of $0.006 per token.
Digitalcoinprice.com is similarly optimistic for SFM. For 2023, they expect the value to rise to up to $0.000590. For 2025, they are providing a similar target as their peers, with a price level of $0.000979. Finally, for 2030, the website is a bit more conservative, with a target of $0.00281. Even so, this represents a 10x increase from the current level, which could be a great long-term opportunity for investors.
Final Note
SafeMoon started out as a moonshot, and many jumped aboard to take advantage of this opportunity. However, the team behind the token has solidified tokenomics with their V2 contract, making this a decent long-term play.
While the token itself doesn’t have too many utilities, the strong community behind SFM is driving the price up. And in crypto, community is everything.
