Can Safemoon (SFM) Spike to $1 in Mid-Term?

With Safemoon being one of the most popular crypto projects in the crypto market, many people want to know the price prediction and the potential of the SFM Coin. 

What is Safemoon (SFM)?

Safemoon (SFM) is a BEP-20 token on the Binance blockchain. What makes Safemoon (SFM) unique is the structure of its tokenomics. With every safemoon transaction, there is a 10% fee, where 5% of it is distributed to the token holders and the other 5% is burned, to limit the supply of the token. The reason for such a large fee is because the idea of SafeMoon (SFM) is to serve as a store of value and resist volatility.

The Safemoon (SFM) protocol is a community-driven one and is built on four main functions which are: Reflection, liquidity provider acquisition, burn mechanism, and a fund for contributing to the ecosystem growth.

Is Safemoon (SFM) a meme coin?

The Safemoon (SFM) token was born from the famous meme ‘To the Moon’, which is a terminology that crypto traders use to indicate the skyrocketing performance of a cryptocurrency. The meaning behind the name means ‘Safe to the moon’.

Will Safemoon (SFM) be Rocketing Again?

After releasing version 2 of Safemoon tokens (SFM), the new total supply of Safemoon (SFM) is now fixed to one trillion, so with a limited token supply it is not hard to reach high levels again.

In fact, the Safemoon V2 coin (SFM) has already touched the 0.0078 mark, so it is fair to say that Safemoon (SFM) can easily grow even higher, if everything goes fine and the crypto market is bullish again.

Can Safemoon Reach New Highs?

As for now, the SafeMoon (SFM) token is priced at $0.000000005264. While the road to $1 seems far off, upcoming updates to the SafeMoon (SFM) platform, including the SafeMoon  Hard-Wallet and SafeMoon Exchange will drive more interest to the project, but the $1 goal seems so far off right now.

Is Safemoon (SFM) a Smart Bet for 2023?

It is hard to give a clear answer to this question, especially in these times when the crypto market is extremely bearish and the cryptocurrency world is covered with uncertainty. So, it is safe to say that waiting and seeing where the market will go is a good choice.

If you are planning to hold Safemoon (SFM) for the long term then it might pay off, but always remember that a risk analysis before investing in any cryptocurrency is a must.

Is DollarMoon (DMOON) better than Safemoon (SFM)?

Since its launch, DollarMoon (DMOON) has been a hot topic in the crypto world, especially with DollarMoon token DMOON performing very well. 

DollarMoon (DMOON) is a reflective token that encourages long-term investment and discourages selling, that’s why people have been comparing it with SafeMoon (SFM).

There are many factors that make DollarMoon (DMOON) the winner in this comparison. The most important one of them is the value leading system that DollarMoon’s (DMOON) roadmap is dependent on, which was invented by the DMOON team and is first-of-its-kind in the crypto world

We should also address the fact that DollarMoon (DMOON) launched only a month ago which means that the chances of early investing and reaching new ATHs are high.

Bottomline

Although we can't predict precisely if Safemoon coin (SFM) will reach $1, it is safe to say that meme coins are an interesting way to diversify your crypto investing portfolio. Even though they may come around as a risky asset to invest in, no one can deny the rewards that some of them brought to their investors, especially in the latest bull market.