It stayed around this price for about two weeks, but then things started to move significantly. As with all new things, people started to get interested, and the price soon reached $0.00000157 on 3 April. SafeMoon launched on 8 March 2021 with an initial price of $0.000000001. While past performance is never an indicator of future results, knowing what has happened can help to contextualise a future SafeMoon price prediction. Let’s take a look at SafeMoon’s price history. The migration was not automatic, so SAFEMOON holders will have to convert their old crypto to SFM. In terms of its recent upgrade, the idea was to consolidate the old SafeMoon – SAFEMOON – by a ratio of 1000:1, meaning that the value of the new SFM coin would be higher than the old one, but also that existing holders would not lose out. In June, SafeMoon was listed as the crypto with the highest social engagement on Binance’s BNB Chain, with 171 million social interactions. Meanwhile, the buzz around SafeMoon continues. On 8 March 2022, it was then revealed that SafeMoon’s vice-president Charles Karony had stepped down from his position, in order to return to university and complete his degree. However, Karony had claimed that the liquidity pool will only be used for emergencies, and that the funds could end up seeding exchanges that trade SafeMoon or fund future products.Įarlier this year, SafeMoon replaced its chief blockchain officer, Thomas Smith, with a new team, stating that the handover process started last September. There was also the fear that since SafeMoon CEO John Karony holds around half of the liquidity, he could easily get rid of it, thus rendering the coin worthless. Its unique structure, which encourages people to hold on to the coin, coupled with its relative newness, have drawn questions from some experts – with some analysts dubbing it a Ponzi scheme. SafeMoon encourages people to hold the crypto – Credit: Ĭoncerns have been raised over the legitimacy of SafeMoon. The “safe” part of its name, meanwhile, has perhaps less to do with the slang term of approval, and is instead simply a reference to the crypto’s purported security. While it is unclear who originated the phrase, it has probably become most associated with Dogecoin, the currency that started as a meme and is now trading at around the $0.07 mark following endorsements from the likes of Kiss bassist Gene Simmons, rapper Snoop Dogg and Elon Musk, PayPal co-founder and Tesla and SpaceX CEO. SafeMoon’s very name pays homage to a saying that has become popular call-to-arms among online crypto communities – “to the moon”. But after the accusations of fraud, what is the outlook for the token? And is it safe? SafeMoon has been in existence for just over a year and has recently generated a lot of excitement thanks to its recent V2 upgrade.

At the time of writing on 9 August 2022, the price is trading at $0.0004078. The SafeMoon price then rallied 197% in the weeks to 26 May and set a swing high at $0.00109. The SafeMoon price had already fallen from $0.008185 to $0.001151, after an earlier accusation by Fineisen that Ben Phillips, a former SafeMoon influencer and the company’s former chief marketing officer, had orchestrated an alleged $12m “pump-and-dump” fraud, promoting SafeMoon while at the same time selling millions of the tokens.įollowing the latest claim, the price crashed by another 28% and the coin was trading at $0.0005898 on 19 April. Findeisen claimed that SafeMoon had a deal with Bitmart, whereby the exchange sent the 5% of SafeMoon tokens meant for burning to Karony while distributing the rest among holders – with Karony allegedly just pocketing the tokens. On 18 April 2022, allegations of a SafeMoon fraud were made in a YouTube video by “internet detective” Coffeezilla, real name Stephen Findeisen, with the claim that SafeMoon CEO John Karony has not been adding SafeMoon from sellers to the liquidity pool. This encouraged people to hold on to their coins.

SafeMoon’s most interesting feature is that anyone who sells a SafeMoon coin will be subject to a 10% sales tax, with 5% redistributed to people who are still holding their coins, and the other 5% burned. So what does this mean for a SafeMoon price prediction today? Accusations of “pump-and-dump” fraud and other alleged shenanigans involving the crypto token SafeMoon (SFM) saw the coin’s price plunge 50% in a fortnight in the middle of April 2022.

Safe moon crypto price