Safemoon is a decentralized Defi financial token. According to its website, this project has three functions at the time of each transaction: reflection, LP purchase, and burning.
Proper price analysis and safemoon price prediction will help you buy or revise this token or trade this token. The information in this article will help a lot.
What is a Safe Moon?
This token combines RFI and an automated liquidity generation protocol. The protocol expands the NFT market and launches a token platform that allows users to create their digital currencies through the platform.
Safe Moon was launched on March 8, 2021, with a price of $0.00 trillion and a supply of 777 trillion tokens.
Who are the founders of SafeMoon?
John Karony is known as the CEO of this coin.
safemoon price prediction
To safemoon price prediction, we must say that this Currency plans to launch an exchange of heterogeneous tokens (NFT).
Also, charity projects and crypto training programs are the main goals of this project.
With the Safe moon protocol, token holders will earn more of this coin depending on the number of coins they have. Earnings can be up to 80% APY, which is staggering compared to traditional interest accounts.
Safemoon price prediction, likes other currencies, depends on the goals and performance of the development team.
Thanks to its coin-burning strategy, it becomes more valuable over time and becomes a declining digital currency.
This Currency has an ambitious roadmap thanks to its growing popularity. They want to be listed in the leading exchanges, set up a decentralized exchange (DEX), and increase their participation by the end of 2021.
Safemoon future predictions
The project’s white paper states that an essential issue in the emerging Defi industry is the existence of high APY LP farms that will not be easily accessible to newcomers.
Using this coin, the developers of this project intend to use the idea of fixed rewards (conditional rewards on the number of tokens traded) to eliminate any pressure that may be placed on the token when selling tokens.
The White Paper also notes that their “reflection mechanism” motivates Safe Moon holders to hold their tokens Er.
Safe Moon Automatic LP also stabilizes the protocol by providing a floor/cushion for token holders. Safe Moon’s manual burning strategy helps long-term coin holders based on their white paper.
White Paper SafeMoon provides the following scheme for protocol security: The developer burns all the tokens in the developer wallet before launch, there is a fair launch in DxSale, the LP is locked in DxLocker for four years, and the LP with It is generated every time it is traded and locked in PancakeSwap.
Safemoon white paper
The SafeMoon White Paper describes the following: Total supply of 1,000,000,000,000,000 with 223,000,000,000,000 tokens developed and fair supply of 777,000,000,000,000.
The Safe Moon protocol, according to the White Paper, works as follows:
The transaction is charged 10% tax in each transaction, which is reduced by half. While the 5% fee is redistributed to all token holders at the time, the other 5% is redistributed in half, 50% is sold to the BNB by contract, and the remaining 50% is automatically paired with the BNB as a liquidity pair, added to PancakeSwap.
Where can you buy safemoon?
The following centralized or decentralized exchanges can be used to purchase Safe moon:
PancakeSwap (V2), Decoin, PancakeSwap, Gate.io, BitMart, ZBG, BiKi, LBank, Hoo, Hotbit, MEXC, Bitbns, Bitrue, WhiteBIT, KickEX, BitForex, BHEX, Jubi, and Biswap.
WBNB, USDT, and BUSDT are also available to buy this Currency.
For long-term storage of this Currency, you can use warm wallets such as Trust Wallet or MetaMask as a Safemoon wallet.
Safemoon Technical Analysis
In continuation of safemoon price prediction, we can say: The highest price that this Currency has been able to experience is $0.00001096. At the time of writing, this Currency, like other currencies, is declining. And strong support at 0.000000835 has caused the price to return. If the above support is lost, it will decrease further, and the next support will be equal to 0.0000002385 and 0.00000006409, respectively.
Is safemoon a good investment?
Given that the number of tokens in circulation for this project is vast, this parameter is negative. Also, with the release of more tokens, the market value can increase without price growth.
In general, the idea of this project is not new and is repetitive. In addition, the project is technically and efficiently weaker than the cryptocurrency projects.
Therefore, Safe moon tokens are not recommended for purchase, and it is better not to keep them for a long time. Finally, according to the explanations provided, any purchase and sale of this token is the trader’s responsibility.