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Alongside Dogecoin, one of the most significant cryptocurrency success stories this year has been SafeMoon. Having launched in early March of this year, the SAFEMOON price quickly soared to a dramatic all-time peak on April 21st.

What followed was a volatile journey eventually leading to a steady decline for the last month. However, while some investors may feel discouraged by this price action, others feel that SAFEMOON coin is now trading at a discount and is well-positioned for another bull run.

In fact, despite a bearish trend across the broader cryptocurrency market, SafeMoon crypto has managed to re-establish its upwards charge in the last week.

Because of this shift in momentum, an increased number of investors have been asking questions like ‘how do I buy SafeMoon coin online’ and ‘where can I can SafeMoon tokens.’ To help answer these popular queries, this article explains what SafeMoon is, reviews its future investment prospects and provides a SAFEMOON price forecast.

In case you want to buy coins immediately, the following paragraph is our analysts’ list of the best places to buy SafeMoon coin in the UK and elsewhere.

First things first, let’s clear up a common misconception: you can’t buy SafeMoon shares. SafeMoon is a cryptocurrency, not a stock. Make sure you understand this key difference before you invest in SafeMoon.

If you want to buy SafeMoon crypto quickly and easily, sign up to a crypto broker, deposit funds, and purchase the number of SAFEMOON coins you want. While some crypto investors like to use decentralised exchanges (DEXs), they simply can’t match the low fees and reliability of brokers.

So, here is our list of the two best platforms to buy, sell and trade SAFEMOON coin:

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Safemoon Trader is a trading software offering users a wide range of cryptocurrency coins including SAFEMOON, DOGE and Bitcoin.

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Founded in the US on March 8th, 2021, and built on the Binance Smart Chain (BSC), it is a decentralised finance (DeFi) project and tradable cryptocurrency. The project’s development team has been hard at work constructing an ecosystem with tokenomic parameters that reward those who buy and hold onto SAFEMOON coins, punishing those who sell with fees.

More specifically, SafeMoon charges a 10% penalty fee on all sales of tokens. 5% of this is redistributed to tokenholders, incentivising them to hold coins for the long term. This reduces volatility by discouraging trading, and the additional percentage that is burnt will gradually increase scarcity, which should lead to price accretion.

The long-term aim is for SafeMoon to rectify some of the alleged issues that are present with other popular cryptocurrencies like Bitcoin, Ethereum and Dogecoin by providing a clear, community-driven roadmap to collective wealth creation.

This year, SafeMoon plans to launch its own decentralised exchange and NFT marketplace, providing another revenue stream for the project and additional potential catalyst moments to the calendars of investors. Moreover, the project’s first bridge was launched today, making SafeMoon available on Ethereum for the first time ever.

If you are focussing on the technical analysis side of proceedings, SAFEMOON appears to have recently bucked its bearish trend and the indicators look positive for a price renaissance. The ceiling for SafeMoon appears to be many multiples higher than the price it is currently trading at, and its ability to outperform the wider bleeding market is impressive.

Traders may be discouraged by the 10% sales tax, though long-term investors will be encouraged by the potential for steady passive income and gradually increasing scarcity. With the launch of the SafeMoon wallet in the rear view mirror, and several new ventures on the horizon, the project could be in for a promising few months.

However, when investing in an altcoin, make sure you are cognisant of the heightened risks and volatility that is inherent to the space. Provided you conduct your own extensive due diligence and understand exactly what you are getting into, SAFEMOON coin could be a rewarding investment.

This is unlikely, though stranger things have happened in the world of cryptocurrency this year.

However, it is worth noting that of all the altcoins on the market, SAFEMOON is one of the few options that has already demonstrated its ability to rise in value exponentially. So, if you are looking for a high-risk coin that could generate huge rewards, there aren’t many with better credentials than SAFEMOON.

Many commentators and analysts feel the bottom may now be in for SAFEMOON, and if this is the case, a rally towards its monthly high of $0.00000481 from its current price of $0.000003439 would not be surprising. If the bull market kicks back into gear, a return to and above highs of $0.00001 could be on the cards.

Make sure you take our SafeMoon price forecast with a pinch of salt. Calculating a prediction for the price of an altcoin is extremely difficult given the number of unknowns, variables and the sheer volatility of the cryptocurrency market.

THE BRIDGE HAS BEEN MADE! #SAFEMOON VIA @pNetworkDeFi 🚀🌕 pic.twitter.com/pGuY9IOFRK

#Safemoon bridge went live today. That’s cool.

1/N Fasten your seatbelts #SAFEMOONARMY 🧑‍🚀🚀

The first pNetwork x @safemoon bridge is here, making #SAFEMOON available on #Ethereum 🦄

Go cross-chain via pNetwork 👇https://t.co/eagTqtksUh pic.twitter.com/BQQt9LI7Xl

#SAFEMOONARMY, looking forward to #SAFEMOONSUNDAY! ;)
We are moving at ludicrous speed, and the days are starting to fuse together.

First of many…(IYKYK)#SAFEMOON is the #Evolution!

So far so GREAT!
Another successful wallet meeting in the books.
We've started to pick participants for the beta. Those individuals will be notified via email when all are chosen✅
Keep up to date with the latest info by checking the official social medias daily! #SAFEMOONWALLET

SafeMoon is about to go on the craziest run you have ever seen…. 🚀 #SAFEMOON

Read the Invezz cryptocurrency news if you want to find out the latest information about $SAFEMOON and other trending cryptocurrency projects.

The post Where to buy SafeMoon today: the ‘next Dogecoin’ debuts on Ethereum appeared first on Invezz.

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