This article, provides a deep technical analysis and price prediction for Safemars crypto, estimating the potential returns you could earn in the near and long term.
Safemars crypto is an imitator of SafeMoon, the altcoin that caused a sensation in 2021 and has since has spawned numerous imitators attempting to capitalize on its popularity. While the project is questionable at best, it has generated some interest. No matter what you think about a project there is always scope to trade it. Like the Wolf of all streets, says, “I don’t like it but I will trade it.”
First, I will walk you through my forecast for Safemars coin with a short term and long term price prediction. Then I will look at its price history. Finally for those still interested I will give a brief explanation of what Safemars is.
So let’s explore wether there is any potential for this coin.
Safemars forecast in a nutshell
- In the near term Safemars could hit $0.000000014
- In the long term it could hit an average price of $0.000000019
- Safemars price today is $0.00000001004 . It’s previous all time high was $0.0000015 in May 2021.
- If Safemars grows as much as Safemoon price will 10x from here.
Safemar’s price last month was $1697.08. It has moved by -5.64% in the past week and is currently at $1601.45. Infact, in the past 24 hours, ETH has dumped by -2.64%. There is a slight bearish sentiment in the crypto market. The long term sentiment, however, remains bullish and ETH could hit $2357.55 in 2024.
Current Price of Safemars: A Snapshot
|Price Change 24Hrs||-2.07%|
|Price Changes 7 days||-5.02%|
As of writing this article, the current price of Safemars stands at $0.0000000105 USD, according to CoinMarketCap. Its market capitalization is around $4Mn USD, and it has a 24-hour trading volume of $16,000 USD which is pretty low. The total supply is 393 trillion out of a maximum supply of 1 quadrillion.
It ranks 4,649 so let’s face it, it is a crappy project and meme coin that has failed to become viral. If you are betting it will do something similar to Doge coin or Shiba inu you might as well play the lottery. However, all coins can be swing traded so we will take a closer look at what the technicals indicate about where the coin might be heading.
Short-Term Price Prediction for Safemars crypto
Looking at the price trend of Safemars over the past year you can see that the coin has been in a steady decline. What you need to look out for is wether Safemars will attempt a recovery in the coming days and weeks.
If you zoom into the most recent weeks you will see that Safemars is steadily trading within a specific range.
Note how, in 2023, in the graph above, the price of Safemars has been unable to break trough the $0.00000001150 upper resistance. If it does then it might trade all the way up to $0.000000014 by the end of February which is a nice 20% ROI. Of course make sure you set a stop loss to cut your losses in case the price moves in the opposite direction.
I would recommend you set up a price alert for when Safemars crosses the $0.00000001150 point (that’s eight zeros). If you get a couple of green candles then it would be a decent bet to buy and hold until it reaches the next resistance boundary at $0.000000014.
It’s important to note that cryptocurrency prices can be volatile and subject to sudden shifts, so investors should always approach with caution.
Long-Term Price Prediction for Safemars: End of the Year
In the long term, Safemars has the potential to reach a maximum price value of $0.000000019 and minimum price value of $0.000000016040461 by the end of the year. If this plays out and investment today would result in a 65% ROI. This prediction is based on the current price trend and the coin’s persistently reducing circulating supply, which currently stands at around 393 trillion tokens out of a maximum supply of 1 quadrillion. As more people hold onto Safemars tokens, the circulating supply will continue to decrease, leading to an increase in its value.
In the long-term, Safemars has some potential for growth, but there are also some risks involved. The cryptocurrency market is highly volatile, and there is always the chance that the token’s price could fall just as quickly as it has risen. It is also worth noting that Safemars is still a relatively new token, and there is no guarantee that it will be able to maintain its current momentum over the long-term.
Technical Analysis: Using Popular Technical Indicators
To support this price prediction, let’s take a closer look at Safemars using some of the most popular technical indicators. Please keep in mind that all coins with such a low market cap are highly vulnerable to market manipulation and their technical analysis is highly unreliable.
First, we have the Moving Average Convergence Divergence (MACD) indicator, which shows that Safemars is in a bearish phase.
2. Relative strength index (RSI)
The RSI indicator is neutral showing that Safemars is neither oversold nor overbought.
3. Momentum Oscillator
Finally, the Chande Momentum Oscillator is at -34 indicating again that Safemars is currently in neutral territory.
Safemars Price History
Soon after the token’s release, Safemars’s price reached an all-time high of $0.0000015 in May 2021. That is about 100x the price it is today. By July the price has crashed 99% to $0.00000004. Then, in October, it rallied all the way back up to $0.00000024 which is a neat 6x from its all-time low.
Following this, the price essentially collapsed. The price is currently moving sideways, with trading volumes generally low, even by the token’s standards.
Investing in Safemars: Is it a Good Investment?
As with any investment, there are risks and rewards involved in investing in Safemars tokens. At present, Safemars is a relatively small token. It has not yet been listed on any of the major crypto exchanges apart from MEXC and Gate.io. Hence the token is still relatively unknown, and there is a risk that it could fail to gain traction among investors.
However, Safemars has several features that could make it a good investment in the long term. The token’s liquidity generation protocol, for example, ensures that a portion of each transaction fee is distributed to Safemars holders. This provides them with a source of passive income. Additionally, the token has a black hole address that functions to remove a portion of the circulating supply of Safemars. This increases the scarcity of the token potentially driving up its price.
Ultimately, whether or not investing in Safemars is a good decision will depend on your risk tolerance, financial goals, and investment strategy.
How am I trading Safemars?
I am staying the hell away. The coin is a meme token without any fundamentals to speak of. The multiple zeros are too confusing for me to track its price. Also, I do not see any pattern that suggests this coin is ready to break out. If a breakout occurs then you could make a neat 20% in the near future. However, I think there are other coins where I have better chances of success. As far as the long-term is concerned I don’t believe in the long-term viability of the project.
Summing up SafeMars Price Forecast
It is difficult to predict the value behavior of a coin with a low market cap. While there are currently no indications that the price will increase, another round of promotion might cause a temporary price rise. However, long-term predictions are uncertain, and caution should be exercised.
What is Safemars?
Safe Mars is an altcoin created on the Binance Smart Chain blockchain. It positions itself as an independent, autonomous yield and liquidity protocol. An expense is charged for each exchange, which goes towards compensating the holders of Safemars and expanding liquidity. The Safemars protocol was created by an unknown developer under the pen name “Martian.” The task group comprises of three engineers and five advertisers. Of these, only the CEO, Kenneth Churchill, and the community contact, Brian Dooley, are known. The rest of the group prefers to remain anonymous.
After the project’s launch on March 13, 2021, 53.5% of the tokens were burned. Another 40.5% was designated to the pre-sale supply, and 6% went to the Safe Mars team’s wallet.
Safe Mars has a smart contract that charges a 4% expense on every exchange. The expense is distributed as follows: 2% is disseminated as a prize among token holders, while 1% is auto-secured in the liquidity pool to build the token’s liquidity continually. The project aims to make a branding DApp, as well as the capacity to stake and mine NFTs. However, the intent to execute on those designs was declared at the end of 2021. As of February 2023, there has been no significant awareness of their execution.
Liquidity Pool and Safemars LP Tokens: Boosting Overall Liquidity
One of the key features of Safemars is its liquidity pool, which is fueled by Safemars LP tokens. These tokens are generated when users add liquidity to the pool. They can then be staked in a staking wallet to earn passive income. The more SafeMars LP tokens that are staked, the higher the productivity of the farm, leading to increased rewards for holders.
In the short term, swing traders can wait to see if Safemars coin breaks out of its current range. If it does the next resistance is at a price +20%. If you set a take profit at that price you will make a nice 20% ROI. However, I am not convinced this breakout is coming any time soon.
Looking at Safe Mars’s technical analysis the indicators are mostly neutral. Trading volumes remain low, while the MACD indicates a weak negative sentiment. In any case, cryptocurrencies with a low market cap, like Safe Mars, are particularly vulnerable to market manipulation, making their technical analysis entirely unreliable.
As of now, there are no significant catalysts to suggest that Safe Mars’s price will increase further. However, another round of promotion could cause a temporary price surge. Therefore, predicting Safe Mars’s price behavior is difficult, and investors should exercise caution when investing in this altcoin. As an analyst, I cannot recommend investing in Safe Mars until we see more tangible signs of growth and development within the project.
In conclusion, the price of Safe Mars is difficult to predict due to the highly volatile nature of the cryptocurrency market and the low market cap of the token. While the project has some unique features I doubt it can gain significant traction and compete with established cryptocurrencies. Investors should approach Safe Mars and other altcoins with caution and only invest what they can afford to lose.
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