Even though Safemoon has slumped along with the rest of the market, there's still potential there. As a prudent investor, you'd want to check out this Safemoon price prediction, as we cover the asset's price forecasts.
This guide will show you the Safemoon coin price and performance so far.
Before we begin, let's examine the Safemoon price prediction to know where the asset could be in the near future.
| Year | Price |
| 2022 | $0.10 |
| 2023 | $1 |
| 2025 | $5 |
Currently, the Safemoon price today stands at 0.00137. This is a drop of 3.07% in the past 24 hours. While that isn't so great, it's still impressive compared to the broader crypto market, down by 5.02% in the same period.
Safemoon has had a decent start to the year. The asset has been down 48% since 2022 began. It's not so different from other meme coins that have suffered from the market downturn.
However, this doesn't mean that there isn't some exciting stuff happening that could switch the Safemoon crypto price up.
Early in February, EverGrow Coin, an emerging utility token, announced a new partnership with the Safemoon developers. The partnership will see EverGrow Coin (EGC) swaps available on the Safemoon Wallet.
Investors will be able to buy EGC on the Safemoon Wallet, making the latter even more useful to crypto speculators.
The partnership could be a major fork in the road for Safemoon. EGC is seeing impressive traction among market participants, and their use of the Safemoon Wallet to purchase the coin could spur the Safemoon coin price even higher.
Safemoon developers are also getting a boost from the coin redesign. In December, they announced Safemoon V2 – an upgrade that will see the asset's circulating supply consolidated to 1,000:1.
It is worth noting that the Safemoon upgrade didn't come without its headache. Many exchanges that listed the original version had to delist it to comply with the upgrade temporarily.
Quidax – an African-focused crypto exchange – told customers at the beginning of the year that it would have to delist Safemoon to protect its funds. The new version is now live on the exchange, with Quidax announcing just last week that customers can now trade the asset again.
Rough patch aside, the new Safemoon version is expected to make the asset more attractive to investors who prefer to see their coin trading at higher values.
Besides the higher values and consolidation, Safemoon investors also have a lot to look forward to with the launch of Safemoon V2.
The upgrade is expected to improve the security, quality, and accessibility of the Safemoon token. Safemoon contracts are also likely to have additional cases, resulting in a push for adoption and higher coin price.
Despite their best efforts to spur adoption, Safemoon's developers are seeing what many other meme coins have been through. Most investors see Safemoon as a meme coin and nothing more!
This means that the asset's prospects look a bit bleak and will most likely remain that way until the broader market picks up again.
With the market down right now, our Safemoon price prediction for the year stands at $0.10. We believe that the asset should still be able to approach the $0.10 mark, provided that the crypto market can rally and shake off its bearish rut later this year.
Our Safemoon price prediction is more bullish for long-term outlooks. We believe that the asset can hit the $1 mark by 2023 and push to $5 by 2025. For this to happen, several things will need to come into play.
The first factor is the crypto market itself. If large-cap coins like Bitcoin and Ether see gains, these gains will tend to trickle down and touch smaller coins like Safemoon. So, the market will need to have a sustained bullish period for Safemoon to push ahead.
The other factor has to do with Safemoon itself. While meme coins are susceptible to big jumps, such usually happen because of massive communities.
According to reports, Safemoon had about 2.8 million holders last November. Compare this to large meme coins like Dogecoin, which had over 4 million on-chain holders as of August 2021 – just months after Safemoon itself launched.
Safemoon developers will need a stronger community of supporters and coin holders to grow the price of the coin.
Below is a Safemoon price chart that shows the asset's movements over time.
Safemoon remains a decent coin to buy for good returns in the future. It's a meme coin, which means the asset is susceptible to massive price swings. Just as well, its low price makes it an attractive option. As our Safemoon forecast shows, the asset has some potential.
However, if you're looking for the best coin to buy right now, we would recommend Lucky Block (LBLOCK).
LBLOCK is the governance token for Lucky Block, a blockchain gaming platform looking to revolutionise the space. Lucky Block uses blockchain technology to promote fairness and transparency in the gaming space.
Interestingly, the platform is generating a lot of buzz among players. With LBLOCK, players can access all of Lucky Block's games. This means that the asset replaces traditional gaming tickets. Additionally, you can speculate on its price.
Lucky Block launched LBLOCK in January, with the coin now being available on PancakeSwap – a top decentralised exchange. The coin started trading at a price of $0.0020, and it has since risen to an all-time high of $0.0092.
Cryptocurrency markets are highly volatile and your investments are at risk.
Investors who bought up to $10,000 worth of LBLOCK at the asset's presale will definitely be smiling right now as their holdings would have grown by over 10X. This has led to many experts labeling it as the best cryptocurrency to buy in 2022. It's even made history as the fastest run up to a $1 billion cap of all cryptocurrencies.
And it doesn't stop there. The Lucky Block app is coming in March, and LBLOCK is also set to list on top crypto exchanges like FTX and Binance. You can rest assured that the asset's value will balloon even more when this happens.
You can purchase LBLOCK by checking out the Lucky Block site.
However, if you'd like to buy the coin from PancakeSwap, follow these steps:
Head over to the official website of PancakeSwap by clicking this link.
PancakeSwap allows you to connect your self-custodial wallet to purchase tokens. The platform supports wallets like MetaMask, Trust Wallet, BSC Wallet, and more.
PancakeSwap is based on the Binance Smart Chain. So, to purchase LBLOCK, you will first need to buy Binance Coin (BNB).
Buy the asset and transfer it to your wallet. Already have BNB? You can go ahead and make a purchase for LBLOCK.
Head to your wallet and click on "Trade," then click on "Exchange." Choose BNB in the "From" section. To Purchase LBLOCK, you will be required to paste the contract address.
LBLOCK Contract Address: 0x2cD96e8C3FF6b5E01169F6E3b61D28204E7810Bb
Afterward, click import.
Select LBLOCK in the "To" section. Enter how much you'd like to buy and proceed to make your purchase. Within minutes, your LBLOCK tokens will be deposited into your wallet.
Cryptocurrency markets are highly volatile and your investments are at risk.
LBLOCK has become one of the hottest properties on the crypto market. The asset is still in its infancy, but it's already a hot-ticket commodity.
While Safemoon also offers massive value to investors, we recommend buying LBLOCK as well for massive gains.
Cryptocurrency markets are highly volatile and your investments are at risk.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.