Safemoon had been under strong bearish pressures along with the rest of the cryptocurrency market as the new year begun. However, the project launched its second iteration which resulted in a break for the token in the form of consolidation. Currently, it appears as though the token is pushing towards bullish momentum as the trend is observed to be going upwards. The token continues to establish higher highs from its previous peaks in the uptrend. At the time of writing, the cryptocurrency stands at a price level of $0.0000014. The price of the cryptocurrency has moved upwards by 20% during the daily timeframe. This is a testament to the potential of the token.
What is going on with Safemoon?
Safemoon launched its most recent iteration – the V2 – which has been contributing to the uptrend of the token. The new version appears to be enabling strong bullish momentum but the momentum is further fueled by developments going on in the network. The network is regarding this month to be “February Frenzy”. Safemoon has added DxSale – a decentralized launchpad protocol – to its arsenal of swapping. Other than DxSale, Affinity, Enhance, Cake, ADA, BIFI, and HODOO are some of the other listings. As the platform charges fees for swapping, this means that the ecosystem will be benefitting from adding these tokens as the fees will go to the network and result in further growth. The liquidity migration for some of the new additions has already been started.
An important thing to note is that the Safemoon team regards the listings to be just the beginning for this month which means that a lot of other listings and additions to the ecosystem will take place over the course of the month. Apart from additions to its network, the platform is also expanding its scope with new exchanges as it recently got added to the Mandala Exchange – increasing its current userbase.
Price prediction
Safemoon has a bullish outlook especially amidst major developments that are going on in the network. According to the estimates of Digital Coin Price, the cryptocurrency is expected to be operating at a price level of $0.00000325995 USD in five years’ time while the price is expected to reach $0.00000209608 by the end of the year. These estimates are on the conservative side as some projections also estimate Safemoon can reach as high as $0.0025 soon.
