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- 1 Safemoon is a DET with a strategy to prevent day trading to address volatility issues.
- 2 The price of SFM at its all-time low level, and it remains to be seen whether it will make a comeback
SafeMoon is a decentralized DeFi token that aims to tackle volatility issues. Its native token, SFM, is currently trading at all-time low levels. SafeMoon’s total token supply is 1 quadrillion, with 223 trillion Dev Tokens burned.
SafeMoon’s Working
John Karoly is SafeMoon’s CEO, having previously served as an All-Source Analyst for the U.S. Department of Defense. Thomas Smith is the CTO of SafeMoon, having previously served as the CIO of Goldsmith Blockchain Consulting. Jack Haines-Davies, who previously worked for LikeAndShare LTD, serves as the COO, while Ben Philips is listed as a Manager on their LinkedIn profile.
SafeMoon has a strategy to prevent day trading to address volatility issues. They have implemented a long-term and earliest-holders reward policy for SafeMoon tokens. Anyone who sells the tokens will be charged a 10% penalty fee on the transaction, with 5% of these penalty transaction fees going to the current token holders.
This strategy is intended to discourage token sales and encourage token ownership. It will make token sellers think twice before selling, and it will also provide additional benefits to current token holders. SafeMoon’s official website explains that “holders earn passive rewards through static reflection as they watch their SafeMoon balance grow indefinitely.”
The constant RFI bonuses are what sets this cryptocurrency apart from others. It uses a manual burn-in method instead of a digital burn-in method to manage supply and enable a satisfying and beneficial burn method for long-term members and achievers.
SafeMoon Security Concerns
The security of SafeMoon is still a concern among people. Opinions on its prospects are divided, with early adopters impressed by its rapid increase in value, while others express little interest in SafeMoon’s potential. A commodity that is heavily influenced by the fundamentals of supply and demand is expected to go far.
SFM Token Trading at All-Time Low Levels
To buy SafeMoon tokens, the official website lists PancakeSwap as the primary exchange. The first step is to create a trusted wallet, convert BNB to a smart chain using the trust wallet, and then purchase SafeMoon. Use PancakeSwap to convert Binance Smart Chain to SafeMoon. Once the transaction is complete, the wallet will receive SafeMoon.
SafeMoon has been met with skepticism by some. Experts claim that investing in SafeMoon is risky since it is not regulated by any particular method. Most of the liquidity is owned by the team, leading some to compare it to a Ponzi scheme.
However, going by the theory that price is all the information you need, this investment doesn’t seem a handy one, and it is definitely not reliable for the long-term. The current support levels for SFM are at $0.00004263 and $0.00003.
Meanwhile, the resistance levels are at $0.0000743 and $0.00011554. The RSI is consolidating below the neutral levels and the 50 and 150-Day EMAs are in bearish crossover.
Conclusion
SafeMoon discourages day trading and prevents volatility through a long-term and earliest-holders reward policy. However, investing in SafeMoon is risky since it is not regulated and most of the liquidity is owned by the team.
Technical Levels
- Support Levels: $0.00004263 and $0.00003
- Resistance Levels: $0.0000743 and $0.00011554
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading in stocks, cryptos or related indexes comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
