Disclaimer: The datasets shared in the following article have been compiled from a set of online resources and do not reflect AMBCrypto’s own research on the subject.
Safemoon may have the 2991st spot on CoinMarketCap, but this seemingly small crypto is wildly dominant on social media and enjoys popularity among several celebrities. BSC Daily reported last month that SafeMoon was the top BNB Chain project that had captured the most social volume.
An investor can acquire a considerable amount of SFM with a relatively small investment, given that the token is currently trading at $0.0003178, with a market cap of $179 million and $645,529 traded over that past 24 hours. However, choosing to purchase a crypto just because its selling at a low price is neither an informed, nor a wise decision.
The price action of tokens like SafeMoon is largely dependent on the hype around the project and its relevance on social media. Influencers and pump groups often exploit such tokens due to their social capital and subject it to pump and dump schemes. As per data from CoinMarketCap, SafeMoon has seen 2 such pump and dump schemes over the past 30 days. On 25 August, the token rallied by a whopping 1489% within a matter of hours, going from $0.0000001069 to $0.00000169. Similarly on 9 September, SafeMoon was pumped over 400%.
SafeMoon saw tremendous growth in 2021, however, this year appears to be difficult for SafeMoon since all cryptocurrencies are down. However, the V2 mark has made a huge splash for SafeMoon.
In fact, some platforms like Telegaon predict SFM’s price to reach a maximum price level of $0.0025 in 2022 with an average price of $0.0015. SafeMoon, however, may hit the minimum price threshold of $0.00089 in 2022 if there is a
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