SafeMoon, which was launched on March 8, 2021, began trading in the cryptocurrency market at $0.000000001 and gained steam three weeks later after it touched $0.0000015 on April 3.
As soon as it rose to such heights in less than a month, word went around on social media claiming it has the capability to be the next Dogecoin and financial influencers immediately picked it up making videos and posts showing why SafeMoon is the ‘next big thing’.
Since mid-week April, SafeMoon reached the ears of almost all crypto investors and looking at how dirt cheap the coin was available for purchase, which is less than a cent, people pumped in money adding a large number of coins to their portfolios and SafeMoon’s market cap now stands at a whopping 4.05 billion.
When Will SafeMoon Reach $1?
Financial experts predict SafeMoon would battle many challenges to reach the $1 mark and cautioned investors that it might not be possible to reach the target in this decade as currency.com, even after being optimistic about SafeMoon predicted that the coin can reach to 1 cent only between 5 to 7 years from now, which is 2026 or 2028.
For SafeMoon to reach $1, it needs to show constant growth trajectory in its indices everyday, and considering how volatile the crypto market is, its new highs in the future can be cut to half and further with just a normal market crash and would need to rebuild and lift itself from the crash, which would again take years.
Also, considering how newer coins are gaining steam and attention in the market, SafeMoon needs to compete in gaining attention even in the long run and not fizzle out. Experts predict SafeMoon investors can only hope for the cryptocurrency to reach the $1 mark only in the next decade.
At the time of publishing, SafeMoon was trading at $ 0.0000041 and is down -3.37% in the ‘days trade’ and had touched its lifetime high of $0.00874 previously before being hammered in the indices in May, after Bitcoin’s dramatic fall that dragged the crypto market to its knees and remained trading in red for close to a month with only a few glimpses of green.