Safemoon is a relatively new digital currency that has successfully made a breakthrough this year. This crypto was launched this year’s March and the price of Safemoon attained a positive growth with a promise to offer rewards to long term investors. Sadly, this digital currency is presently struggling to keep its pace and also its value among the competitors. So looking at its present performance, is Safemoon investment a good option? The answer to this question comes through the Safemoon V2 launch. This new launch changed the structure of this meme coin to a great extent. Let us have a look at some of the Safemoon news today.
What Is Safemoon Cryptocurrency?
Before we answer the question of is safemoon a good investment, let us understand the concept behind this crypto. Safemoon evolved as an excellent meme coin that was chosen for uptake in its beginning days. When more data about the digital currency went online, many discovered more about this crypto and tried their hand on the innovative digital token. Safemoon witnessed a considerable increase in price in a concise number of times after launch. However, Safemoon is not alone in this as many digital tokens also fulfill their promise in the starting stage. Safemoon is renowned for its extreme fluctuations, high fees on transactions (10%), and social media hype of meme coins.
Similar to Ethereum and Bitcoin, Safemoon is also dependent on distributed ledger technology. As per to the creators, half of the 10% fees is distributed among long-term holders while the other half is sent to a liquidity pool for the purpose of stabilizing the value of the meme coin. Unlike Shiba Inu and Dogecoin that are making noise from nowhere, Safemoon really has the basics to rely on. Even though its higher fees of the transaction are set to prevent investors from trading the digital coin often, it is witnessed as a riskier investment in the crypto space. In this article, we will explore to what extent Safemoon can go in 2022 and is Safemoon investment worthy in the upcoming day.
The Basics Of Safemoon Before The Safemoon V2 Launch
Safemoon is a cryptocurrency that is created in the same way that Ethereum and Bitcoin function. Its developers say that the digital currency is formulated to address decentralized issues like inflation and price volatility. Safemoon discourages persistent sellings by charging a 10% fee on every sale. The focus is to stop larger falls when big investors opt to sell their coins. Besides, the digital currency also sticks with manual burns over prevailing burns to maintain its price. As per the creators of Safemoon, manual burns offer more control over the supply of the coin.
Safemoon is controlled by a team of six leaders who roll out the latest plans to extend its price and adoption. In the first quarter of this year, the digital token exceeded the size of its team and started a marketing campaign. Along with that, the company is also focusing on unraveling a Safemoon application, games, and a wallet. Safemoon also has plans to create its own exchange platform in the upcoming years. Since its start, the cousin presently has more than 2.9 million holders with a market cap of US$1.9 million.
Upcoming V2 Launch Of Safemoon
After winning the ‘Crypto Community of the year’ aways at the AIBC Gaming Summit in Malta, the virtual Coin is ready to be upgraded to V2. There will soon be a Safemoon V2 launch. The upgrade is anticipated to help the meme coin attain its goal of getting wider adoption and rising its cases of use. It will ultimately attract more new investors in the market to try their hand on Safemoon and take its price to new highs in 2022. After the upgrade was declared, the meme coin has made a record gain of 6.9%. The upgrade arrives with features like functioning on making the digital token seamless, a 2-click process of consolidation, a web-swap option, and also a QA process.
CEO of SafeMoon, John Karony, illustrated that the net holdings of the customers will be split by a factor of 1000, and the whole value stays the same. Shifting SafeMoon among two wallets is presently taxed at 10%, a decrease of 80% enables it 2%. Users can shift from Safemoon V1 to V2 in just two clicks, and a small portion of BNB to cover the fees of transition.
Curiously, SafeMoon in recent times declared that Chief Blockchain Officer Thomas Smith is now replaced by a team. Karony also shared details of the transition and released that the V2 upgrade is forthcoming, the handover process has begun. There is no news of postponement due to the transition. The team has also started a countdown and the upgrade is presently going under the final checks.
Safemoon Investment: Probable Disadvantages
Despite the colorful medals Safmoon offers, its complete purpose is getting people to purchase the token and hoping that the value will rise at the selling point. Along with that, the official website of Safemoon also cites some important disruptions like ‘Project Phoenix’ and ‘integrating Safemoon with African Markets’, which are yet to be released. Safemoon’s extremely fluctuating nature and 10 percent fees on transactions are also a con. As per the experts, there are many coins out there that guarantee similar options and make unique promises without any assurance. Hence, they think that there is nothing unique in Safemoon and its operations. But all these cons can be replaced with the Safemoon V2 launch.
Will The Safemoon V2 Launch Make IT A Good Investment Option?
After attaining an 85% ascent in the last few months, Safemoon is approaching US$0.00000208, which is its long stood resistance level. As per the predictions, Safemoon price will come back for a huge move towards the upside as it approaches a vital resistance level. If the meme coin handles a 55% increase to US$0.00000321, Safemoon has the opportunity to make its comeback in 2022. So after the Safemoon V2 launch, this can be a good option for investment as per the experts.