• The SEC’s recent action against Kraken had an immediate impact on the price of Safemoon (SFM). SFM was trading at $0.0002581 at press time, and its market capitalization stood at 144,522,922.
• SafeMoon switched to V2 in December 2021 and has been actively promoted by the SafeMoon army since then. It has also outperformed most top meme coin projects‘ ROI since its introduction.
• Analysts and platforms have made various predictions regarding the future price of SafeMoon (SFM), but it is impossible to predict given how volatile the crypto market is.
Overview of Safemoon
The crypto market has been rocked by fresh regulatory actions against crypto units across the globe. The latest SEC action against Kraken had an immediate impact on the digital assets as the price of Safemoon (SFM) kept plummeting. SFM was trading at $0.0002581 at press time, remaining stagnant for the past few days.
Performance of SFM Coin
SFM was heavily promoted as a long-term investment. To accomplish this, it increased transaction fees by 10%, with coin owners receiving 50% of the funds. Safemoon has had a difficult year, with the company accused of manipulating its price with celebrity endorsements, prompting some investors to file lawsuits against it. Its press time market capitalization stood at 144,522,922. Since its introduction, SafeMoon has outperformed most top meme coin projects‘ ROI, where most of them have been operating for a year. As one of CoinMarketCap’s most popular pages, SafeMoon has had more visits than Bitcoin and Ethereum combined. SafeMoon received a breakout reaction, or nearly a million searches according to Google’s trending statistics of the globe filter. In 2021 SFM significantly repaid its investors as it hit an all-time high in April 2021 before settling around current levels for October 2021 onwards indicating potential stability in terms of pricing behavior .
SafeMoon Switching to V2
SafeMoon switched to V2 in December 2021 which saw significant changes in terms transaction fees and other features like token burning that are expected to be beneficial for holders in terms value appreciation over long term periods . This coin is actively promoted by the SafeMoon army which works nonstop day and night making sure holders get their due share from transaction fees collected on each transaction processed through network .
Analysts & Platforms Predictions
Given how volatile the crypto market is ,it is impossible to predict exact future prices even if well known analysts & platforms make predictions about same . Most recently Fear & Greed Index provided insight into overall investor sentiment towards cryptocurrency markets suggesting an increase in overall optimism towards cryptomarkets when compared with previous years .
Final Thoughts
It remains unclear what will happen with safemoon prices over upcoming months but considering recent developments & trends indicates that prices may stabilize or increase steadily over long run depending upon demand from traders & investors looking for safe investments . With such a large circulating supply ,it will be interesting to see how safemoon performs relative other coins within cryptosphere over coming years .