• Safemoon experienced a 11% drop in its price in early November due to FTX’s collapse.
• Analysts predict Safemoon’s price to reach a maximum of $0.0025 in 2022 with an average price of $0.0015.
• SafeMoon has had more visits than Bitcoin and Ethereum combined and repaid its investors significantly in 2021.
Safemoon (SFM) has been one of the most heavily promoted coins in the cryptocurrency market, marketed as a long-term investment. It has been accused of using celebrity endorsements to manipulate its price, resulting in some investors filing lawsuits against it. Despite this, it has still been a popular coin, with its current market capitalization at $2 million.
In early November, Safemoon saw a significant drop in its price, falling to $0.00000000503 on the charts and underlining a drop of 11% within a week. This was due to the collapse of FTX, a trading platform that many investors used to buy and sell Safemoon.
Analysts have made predictions on the future of Safemoon, with some platforms like Telegaon predicting that SFM’s price could reach a maximum of $0.0025 in 2022 with an average price of $0.0015. This is especially likely if there is a bullish trend in the cryptocurrency market in 2022. However, if there is a bearish trend, Safemoon could reach a minimum price of $0.00089 in 2022.
Safemoon has had more visits than Bitcoin and Ethereum combined on CoinMarketCap, and the coin has had a breakout reaction according to Google’s trending statistics. In 2021, SFM has rewarded its investors significantly, outperforming the majority of the other meme coin projects on ROI.
Given the largely bearish trend in the cryptocurrency market, investors are advised to use caution while investing in Safemoon. Despite this, it is clear to see why Safemoon has been one of the most popular coins in the market and the future looks promising for the coin.