SafeMoon, the dark horse crypto token of 2021, is also rising at a level that has surprised many people. It is a BEP20 token launched in March 2021 on the Conan Smartchain blockchain. Yet 2 months after launch SafeMoon’s price soared 200 times, up 6,000%. Even if the price of SafeMoon dropped quite a bit in the later years, this token has allowed pre-investors to reap a lot in the short term.
However, one year has passed, what is SafeMoon’s current price?
At the time of writing, SafeMoon’s price was $0.0000005738 and its price has increased by 4.18% in 24 hours. The current market capitalization is $336,805,391 and the 24-hour trading volume is $83,051.91. The 24-hour trading volume on Gate.io‘s top 10 exchanges in the world is 217,204, or 20.39%. (Source: Gate.io March 29)
The SafeMoon is ranked at #330 on the cryptocurrency list currently. Although the ranking has dropped quite a bit and the exposure is no longer brilliant, the price has always been fluctuating. Once issued at just $0.0000000010 per token, it has now risen to $0.0000005738, which is also a 573.8% increase. It is still a suitable investment for early-stage investors. However, if you missed the initial offering price investment, would it be suitable now? Then you need to think through the following pros and cons aspects
Advantages.
1. Passive Income
SafeMoon encourages its holders to invest for a long time, so it will share half of the transaction fees of other holders with the current holders. This means that if you invest in SafeMoon and don’t manage it, you will not only receive the token increase, but also a portion of the transaction fees.
2. SafeMoon V2 Launch
SafeMoon’s team opened V2 mode in December 2021 to better maintain the stability of token prices and attract investors. Not only did they reduce the transaction fees, but also added SafeMoon software, NFT, and games to the board.
Disadvantages.
1. Price Volatility
SafeMoon price spiked for 2 months since its release in 2021, but since then the price has dropped significantly and is volatile. The high commission is also one of the reasons why many people are hesitant. 10% will be charged for each transaction, even though the transaction fee was lowered a bit after the upgrade to V2.
2. Ryan Arriaga’s Departure
Ryan Arriaga, SafeMoon’s global head of product, announced his resignation on March 23, 2022. He had managed the SafeMoon team to launch many new product lines, including e-wallets. However, the news of his departure also caused controversy on Twitter. But in any case, SafeMoon’s team will lead to a renewal and replacement, which will also affect the subsequent price changes.
SafeMoon is a small token, and its stability is not enough and its risk is very high. Many investors are advised to learn more about it and consider it carefully before investing.
