SafeMoon (SFM) was launched as a community-driven DeFi token. Technically a meme coin, the hope was to problem different high-growth meme cash like Shiba Inu and Dogecoin. SafeMoon exploded. Hitting all-time highs in April. However issues have not likely been clean crusing ever since. Try some highlights beneath:
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After hitting all-time highs in April, SafeMoon (SFM) has misplaced practically 90% of its worth
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In December alone, the coin has seen a month-to-month plunge of over 50% albeit it is repairing a few of these losses.
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Not like different meme cash, SafeMoon (SFM) is including extra utility, together with an Android and iOS model of its SafeMoon pockets.
Information supply: Coinmarketcap.com
SafeMoon (SFM) – value prediction and evaluation
The largest query for many traders proper now could be whether or not SafeMoon (SFM) can replicate the explosive progress it confirmed in 2021. Throughout its peak in April, the coin had in truth managed to ship an ROI of practically 45,000% since its inception. Headwinds within the broader crypto market have seen SafeMoon (SFM) plummet from these April highs.
On the time of writing, the coin was buying and selling at $0.001668, down 7% in intraday buying and selling. It’s impossible that we’ll see any main surge this yr. However as SafeMoon continues so as to add extra utility options into its ecosystem, the coin may develop into rather more worthwhile in the long term.
Must you purchase SafeMoon (SFM)?
It is very important word that SFM remains to be a meme token. Sure, we’re seeing extra utility options coming into the ecosystem however they aren’t practically as worthwhile as, for instance, one thing like Solana (SOL).
Because of this, SFM is susceptible to broad volatility and needs to be seen as a short-term speculative asset proper now. For traders who wish to experience any bullish uptrend in 2022, that is the best time to purchase SFM. However for long run worth, it’s very exhausting to see any upside.