Should You Buy A Safemoon Token For This Year?

SafeMoon is a cryptocurrency that has more than tripled in price since March 2021, outperforming well by 9393.8%. Safe Moon is a relatively young cryptocurrency, which was launched in March 2021, giving a market cap of 2 billion dollars until the day. By the way, many people, especially new investors, have made millions of dollars in profits from the SafeMoon token. At this point, SafeMoon appears to be an extremely high-risk speculative investment. During the day, the token has been unstable but has reached a new high of 9%.

Besides, in PancakeSwap V2, where SafeMoon is quoted with a circulating supply of 570 Trillion SAFEMOON tokens and a total supply of 1 Quadrillion, is currently the most active exchange. Are there any competitors ahead? Bitrise, one of the token’s main opponents, has disclosed something that might be a gamechanger in the struggle between the two blockchain initiatives. Earlier it was announced that Bitrise had launched a dApp wallet that aims to compete with the SafeMoon project’s capabilities. Despite the recovery in prices, it reached record highs at $0.0000065 last month. Now the price is hovering around the 50-period simple moving average (SMA) on the H4 chart. SAFEMOON cannot be an exception to bullish sentiment at the end of the year.