The SafeMoon V2 is a decentralized cryptocurrency based on the Binance blockchain and launched in 2021. It received endorsement from various industries in the world, and SFM’s value rose swiftly. However, it is now 92% lower than the all-time high.
If you buy SafeMoon V2 (SFM) and sell it after two days, you must pay a 10% fee. That means if you buy $100 worth of SafeMoon V2 and sell them the very next day, you have to pay $1 as a fee in addition to the processing fee of the platform.
Though it has some specific use cases, it does not support automatic contracts the same way as Ethereum. The main problem with buying SafeMoon V2 is that it is not listed on all popular exchanges. If you buy SFM, it can be a risky long-term investment.
Due to the recent volatility in the market, the price of the SafeMoon V2 is moving in a long-term downtrend. Not just that, SFM may continue to consolidate in a range this year.
That is why it is not ideal for a long-term investment. However, please read our price analysis and SafeMoon price prediction if you still wish to invest in it.
At the time of writing, SFM was trading at $0.00060. Should you invest in SFM at the current price levels?
On the daily chart, most technical indicators are bullish. The MACD line reflects strong bullishness with consecutive green histograms. RSI is 55, which is also good, but today’s candlestick is red in the upper half of the BB.
Moreover, the SFM price has increased by 15.27% in the last 24 hours. Thus, we think the SFM may continue with the short-term bullish momentum.
After making an ATH of $0.007232, the SFM has been in the downtrend, so it is not a good time for the long-term investment, especially in the volatile market.
The recent crypto market crash was nasty for most of the coins. Thus, investment decisions must be taken very wisely. In case of any confusion, you must not begin a new investment right now.