The SafeMoon crypto has been getting a lot of attention from investors of late – and for good reason. When it launched on March 8, 2021, it was valued at $0.00000007. But after a relatively quiet month of existence, this little crypto that might has shot up more than 12,000% in value.
Whether the SafeMoon crypto can keep up its rocket-propelled trajectory to the moon is anyone’s guess. But there is a lot to like about this new crypto on the block. After we explain why, we’ll share all the info you’ll need in order to start investing… if it makes sense for you.
We’ve actually touched on SafeMoon before. For very speculative reasons, we included it on our list of cheap cryptocurrencies to consider picking up. Since then, its trading volume (and its value) has increased rapidly. All of this bodes extremely well for a new coin.
There are roughly 4,000 cryptocurrencies competing for attention right now. And that’s not including the thousands that have come and gone without so much as a whimper. You see, when it comes to cryptocurrencies, much of the value comes from volume.
Take Bitcoin, for instance. It’s by far the largest cryptocurrency out there in terms of market capitalization. In just 12 years, Bitcoin went from an idea to the fastest asset to reach $1 trillion ever. How did this happen? Slowly, over time, the public’s interest in crypto increased. But there is a limited supply of Bitcoin out there. When demand outweighs supply, the price naturally goes up. That’s about as straightforward as economics gets. And new up-and-comers are following the same blueprint.
SafeMoon Crypto Is Capitalizing on the Buying Frenzy
SafeMoon crypto set out to address common issues found in other cryptocurrencies. Namely, volatility.
Now, most crypto investors know a thing or two about volatility. It’s practically part of our DNA at this point. But a lot of that volatility stems from folks getting in and out of crypto positions frequently. SafeMoon is trying to combat that by penalizing sellers with a 10% transaction fee and rewarding holders with passive rewards. Half of that 10% transaction fee is redistributed to those holding the SafeMoon crypto. That means that every time someone exits a position, those who hang on benefit.
It’s a novel approach… one that’s led to more than 1 million investors getting in on the action. Trading volume has quickly been on the rise as well… all of this despite the fact that it’s a bit of a pain to invest in SafeMoon.
In order to pick up SafeMoon crypto, you used to need a Trust Wallet app with a little bit of Binance Coin (BNB) in it. Then you would head over to PancakeSwap and search around for SafeMoon. Once you’d found it, you’d set the slippage to between 11% and 12%, select the amount you wanted to purchase, press the swap button and then confirm the transaction. And along the way, it was almost a certainty that some pieces of the puzzle would fail on the first one to five times you tried them. At least, that was my experience.
But it just got a whole lot easier to pick up some SafeMoon crypto. And that could be a major catalyst for the SafeMoon cryptos value and its skyward inclinations.
— SafeMoon Protocol (@safemoon) April 22, 2021
Safely, to the Moon?
It’s pretty safe to say SafeMoon crypto is still very much in the speculative stage. But its rapid value increases (and decreases) are hard to ignore, especially for those who enjoy a bit of a gamble. And now that you can just head over to the ZBG Exchange and load up on SafeMoon whenever you want, the path to ownership is a lot easier to navigate.
The pre-listing frenzy around SafeMoon is reminiscent of the wild ride Dogecoin sent investors on. But there are some big differences between the two. For starters, Dogecoin picked up some unusual attention from celebrity endorsements. Elon Musk, Snoop Dogg and Mark Cuban all shared positive views on this self-admitted joke coin. This attention, paired with the ease of access (try to find an exchange that doesn’t list Dogecoin), shot Dogecoin’s value upward. But demand simply couldn’t keep up with supply…
Way back in 2014, the supply cap of Dogecoin was removed. And new coins are constantly pouring into the market. Estimates suggest around 10,000 new Dogecoins are released every minute. That adds up to around 5.2 billion being added every year.
On the other hand, SafeMoon crypto is a deflationary token. And its supply is decreasing. In this way, SafeMoon is following the Bitcoin model, which has a supply limit of 21 million. This doesn’t necessarily mean it will follow the same upward trajectory in value. But it’s giving speculators a lot to talk about.
The Bottom Line of SafeMoon Crypto
The jury is still out on the validity of SafeMoon crypto. Spend an hour in any of the online forums discussing it and you’re likely to find opinions of every persuasion. Early adopters like it because it’s quickly grown in value. Just as many people talk trash about it. There are even folks who express indifference about SafeMoon’s future prospects. And that tells us a lot about this upstart coin.
For an asset that relies heavily on the basic fundamentals of supply and demand, recognition goes a long way. Word of mouth has spread news of SafeMoon far and wide. And the more folks who get to talking about it, the more who will eventually invest in it.
The value of crypto in general has been steadily going up for months. And as Manward Financial Digest founder Andy Snyder predicted at the beginning of the year, crypto’s value is only going to rise. As he put it…
It is a speculator’s dream come true.
Digital money has all the fundamentals of gold… with a moonshot upside that even the hottest stocks can’t dream of.
Andy’s been spot-on with his predictions so far. And 2021 truly is living up to be the “Year of Crypto,” as he suggested. If you’d like to find out what coins Andy’s keeping an eye on, you can sign up for his free e-letter by entering your email address in the box below.
About Matthew Makowski
Matthew Makowski is a senior research analyst and writer at Investment U. He has been studying and writing about the markets for 20 years. Equally comfortable identifying value stocks as he is discounts in the crypto markets, Matthew began mining Bitcoin in 2011 and has since honed his focus on the cryptocurrency markets as a whole. He is a graduate of Rutgers University and lives in Colorado with his dog, Dorito.