Should you buy SafeMoon after the beta launch of their cryptocurrency wallet?

By: Milko Trajcevski
Milko Trajcevski
Milko leverages his passion for cryptocurrencies and teaches investors something new each day. During his spare time, he loves… read more.
on Sep 15, 2021
  • SafeMoon developers have launched their new wallet.
  • The beta version of this wallet is available on the Google Play Store.
  • This update has the potential to raise the price of the SAFEMOON token further.

SafeMoon SAFEMOON/USD is a BEP-20 token that launched on the Binance Smart Chain on March 8 of 2021, and uses proof-of-authority (PoA) as a consensus mechanism. 

The wallet beta release as a catalyst for growth 

Initially, a lot of people were hyped around SafeMoon’s debut on Ethereum as its bridge went live. However, it was missing some features. 

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We saw an official announcement on the SafeMoon Twitter page on September 13 that the SafeMoon Wallet went live on Google Play.

SafeMoon is not a token that unlocks any voting rights on a certain protocol, and it is not a utility token; it is a token exclusively created to be a transfer of value. 

The token is powered by a distributed ledger known as the Blockchain and is designed to encourage long-term investment. 

It charges sellers a 10% fee, where half of the fee goes to SafeMoon’s existing cryptocurrency holders, and the other half is used in a liquidity pool that helps in the price’s stability of the token. 

By developing a native cryptocurrency wallet, users have an added way to store their SAFEMOON tokens and do not need to rely on third-party wallets anymore.

This has the potential of bringing the token’s value as well as circulating supply higher.

Should you buy SafeMoon (SAFEMOON)?

On September 15, SafeMoon (SAFEMOON) had a value of $0.00000188. 

In order to get an estimation of what kind of value point this is and analyze its overall growth, we will be going over it’s all-time high as well as its recent performance throughout August.

The all-time high value of SAFEMOON was achieved on May 11 when the token got up to $0.00001094 in value. This made the token $0.00000906 higher In value, or in other words, 481% higher.

When it comes to SAFEMOON’s lowest value point in August, it was on August 16 when the token was worth just $0.00000152.

On the other end of this spectrum, SAFEMOON’s highest point was on August 28, where it raised its value to $0.00000354. Here, we can see that the token increased in value by $0.00000202 throughout the month, or in other words, saw an increase of 132%.

Ever since August 28, however, it has dropped by $0.00000166 in value, which is a 46% decrease.

However, this leaves it with a lot of space to grow from September 15 onward, and especially with the launch of the new cryptocurrency wallet, we can expect its value to increase to $0.00000233 by the end of September.

This makes SafeMoon a worthwhile purchase.

Where to buy right now

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