SafeMoon is a cryptocurrency that was started in March 2021 by John Karony. It is a decentralized Finance token( DeFi) that works on the BinanceSmart Chain Blockchain. The main aim of SafeMoon is to disrupt the normal functioning of fiat finance and allow following and lending in peer-to-peer networks.
SafeMoon encourages the investors to hold the token as it increases its value. Those who sell the token pay a 10% fee. The existing holders receive 5% of this fee as passive income, and the other 5% is added to the liquidity pool.
During each SafeMoon trade, there is a burning of the token to remove some from circulation. Burning increases the value and stability of the tokens.
SafeMoon entered the Crypto market in March 2021, selling at $0.0000000010 with a supply of 777 trillion tokens.
At the time of writing, SafeMoon sells for $0.000004467 with a market cap of $2,620,110,875 and a daily trading volume of $26,961,172. Currently, SafeMoon has 585.536 trillion tokens in supply and a maximum supply of a quadrillion tokens. SafeMoon had an all-time high of $0.00001399 in April 2021. Since then, the price has retracted by about 60% . Overall, the token has had a bullish biased year.
What is Safemoon Short Term Price Prediction
Safemoon short term chart
SafeMoon has had a bullish impulse most of 2021. This rally had a peak at $0.00001399, after which price began a corrective retracement. Currently, the price is still in this bearish retracement at $0.000004357. The SafeMoon chart at Poocoin app shows that the faster EMA has crossed the slower EMA. This confirms the short term bearish retracement.
We can see a psychological zone that falls in an untested demand zone below the current price level. Thus, the price might move down to that demand, collect contracts from the zone, and continue with the bullish bias.
The psychological point might act as the support point for the price. If the price breaks this point, it will go to the demand zone below it then move up. In the two demand zones, the second demand zone caused the highest bullish impulse. The chances of prices reversing from this demand zone are high.
When the price starts the bullish rally, we expect it to break the November high of $0.0000060. If the price gains a bullish momentum before the year ends, we expect the year to close at $0.0000085.
What is SafeMoon Long Term Prediction
For the long term chart, let’s use the daily SafeMoon chart on poocoin app.
SafeMoon long term chart
After SafeMoon hit an all-time high, It had a bearish rally from mid-May to October. In October, it started a bullish bias. Currently, the prices are a retracement. Since our long term sentiment is bullish, we expect the price to hit a support level or a demand zone then continue with the bullish rally.
The price is now trading at a very significant long term support zone at $0.000004398. So there is a chance that the price might continue the bullish trend from here. Also, the price has hit the psychological point of $0.00000400, and the zone repelled the price.
If the price breaks this point, it will test the support level at $ 0.000003000. So this year might end with a bullish impulse which will continue in 2022.