DeFi platform SafeMoon recently took a significant hit as it filed for Chapter 7 bankruptcy protection in response to allegations of fraud brought forward by the United States Securities and Exchange Commission (SEC) . The voluntary bankruptcy petition was submitted to the United States Bankruptcy Court in the District of Utah, with Chief Restructuring Officer Kenneth Ehrler signing the document.
According to the filing, SafeMoon US LLC disclosed estimated assets ranging from $10 million to $50 million, with liabilities estimated between $100,001 and $500,000.
The SEC’s charges, filed in November 2023, accused SafeMoon and its executive team, including Kyle Nagy, John Karony, and Thomas Smith, of engaging in fraud and conducting an unregistered offering of crypto securities. The regulatory body alleges that the executives not only failed to deliver promised profits but also misappropriated investor funds for personal use, leading to the company’s current financial predicament.
On January 15, 2023, SFM was worth about $2.35.
But what is SafeMoon V2 (SFM)? How does SafeMoon V2 work? And, after the issues SafeMoon faced, how will the coin perform? Let’s see what we can find out, and also take a look at some of the SafeMoon V2 Price Predictions that were being made as of January 15, 2024.
Let’s examine some of the SafeMoon V2 price predictions being made on January 15, 2024. It is crucial to bear in mind that price forecasts, particularly for a potentially volatile asset like cryptocurrency, often turn out to be inaccurate. Additionally, please remember that many long-term crypto price predictions are generated using algorithms, which means they can change at any time.
First, CoinCodex had a short-term SafeMoon V2 price prediction that said SFM would drop to $ 0.00004038 by January 20 before recovering to $ 0.00004807 by February 14. The site’s technical analysis was bearish, with 21 indicators sending neutral signals and just six making bullish ones.
Bitnation said SafeMoon V2 would reach $0.000137 in 2025. DigitalCoinPrice was close behind, forecasting the coin to hit $0.000092. PricePrediction.net said SFM would be worth $0.000095 next year.
Moving on to a more long-term SafeMoon V2 price prediction, PricePrediction.net forecasted the coin to reach $0.00063 in 2030. DigitalCoinPrice said it would be worth $0.000269 then. Bitnation had a SFM price prediction that said it would be worth $0.000317 at the start of the next decade.
Google’s BardAI platform gave the following price prediction for SafeMoon V2 on January 15. Please remember that price predictions are very often wrong and that artificial intelligence should not be trusted.
It added: “These predictions are based on current information and market trends, and should not be considered financial advice. Please conduct your own research and consult with a financial advisor before making any investment decisions.”
Now, let’s look at the SafeMoon V2 price history . While we should never take past performance as an indicator of future results, knowing what the coin has achieved can provide us with some very useful context if we want to make or interpret a SafeMoon V2 price prediction.
Since its inception in March 2021, SafeMoon V2 witnessed an extraordinary surge, with its price soaring by over 2,000% within a matter of weeks. This meteoric rise was due to a confluence of factors, including fervent social media buzz, endorsements from celebrities, and the allure of substantial returns.
By May 2021, the cryptocurrency had reached its zenith, achieving a market capitalization of $5.75 billion, as reported by CoinMarketCap.
Concerns surfaced regarding the sustainability of SafeMoon’s tokenomics system, with critics expressing doubts about its viability and suggesting that it might lead to the eventual demise of the currency.
These apprehensions materialized in mid-May 2023, with SafeMoon V2’s market capitalization plummeting to a mere $3.57 million, marking a staggering 99.9% decrease from its historic high. At the time of writing (January 15 2024), the SafeMoon V2 token was trading at $0.00003623, reflecting a 8.8% decrease for the day.
At that time, there were 556.7 billion SFM in circulation out of a total supply of 1 trillion. This gave the coin a market cap of $21.8 million, making it the 3.674th largest crypto by that metric.
It is hard to say. Problems like those that have affected SafeMoon may hit hard a coin, and SafeMoon V2 performance in 2023 and 2024 so far proved it to be true.
As ever with crypto, you will need to make sure you do your own research before deciding whether or not to invest in SafeMoon V2.
No one can really tell right now. SafeMoon V2 crypto price predictions are largely negative but price predictions have a well-earned reputation for being wrong. Keep in mind, too, that prices can, and do, go down as well as up.
Before you decide whether or not to invest in SafeMoon V2, you will have to do your own research, not only on SFM, but on other, related, coins and tokens such as Ethereum (ETH) and Solana (SOL). Either way, you will also need to make sure that you never invest more money than you can afford to lose.
John Karony, the CEO at SafeMoon, founded SafeMoon V2, according to the official website .
As of January 15, 2024, one wallet held more than 44% of the supply of SafeMoon V2 .
On January 15, 2024, the five richest SafeMoon V2 wallet addresses were
|Supply and distribution
|Circulating supply (as of January 15, 2024)
|556,698,371,315 (55.67% of total supply)
|Top 10 holders own 69% of total supply as of January 15, 2024
In its technical documentation, or whitepaper , SafeMoon V2 says it aims to be fast, efficient, and easy to use.
It says: “The primary purpose of SafeMoon V2 is to provide a safe and secure way for individuals to store and grow their wealth. The token is designed to be deflationary, which means that the supply of SafeMoon V2 tokens is constantly decreasing.
“This is achieved through a number of mechanisms, including a 10% transaction tax on each buy and sell order.”
The tokenomics of SafeMoon V2 aims create a deflationary environment that encourages long-term holding and reduces the supply of the token. The 10% transaction tax on every buy and sell order is the primary mechanism that drives the deflationary nature of SafeMoon V2.
The 4% reflection feature is a secondary mechanism that rewards holders for holding SafeMoon V2 tokens. This feature helps to incentivize long-term holding and encourages users to stake their tokens for additional rewards.
The 3% liquidity feature can maintain the stability of the SafeMoon V2 price. By adding liquidity to the pool, the team helps to ensure that there is always enough liquidity available to support the token’s trading volume.
The 2% burn feature reduces the total supply of SafeMoon V2 tokens and make them more valuable. This feature is achieved by burning a small percentage of tokens with each transaction.
The 1% ecosystem growth fund helps the development of new SafeMoon V2 products and services. This fund helps to ensure that the project continues to evolve and grow over time.
Here is a chart for SafeMoon V2 Google search volume for the past 90 days. This represents how many times the term “SafeMoon V2 SFM” has been Googled over the previous 90 days.
On January 15, 2024, there were 556.7 billion SFM in circulation out of a total supply of one trillion.
It seems difficult for it to reach that threshold. No price prediction sees it close to one cent for a long time.
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Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.