Hello dear readers!
Building up on my last posting about the Saylormoon SMOON where the token just began it's it's first bold move with an astonishing bull run of 10x, I kept my eye on this meme coin (even invested a few bucks -> play money). If you don't know what Saylormoon SMOON is, check it out here.
Their project has acquired a lot of attention lately, finding many who are willing to invest in this newly declared Safemoon token (by claims of it's own community only) and are willing to hodl it to the moon.
Where Does SMOON Stand Today?
Here are some facts about Saylormoon from the last few days:
- Saylormoon reached a price of $0.00000003644 starting from $0.0000000091 24 hours ago. That is 400% in just a day
- The price has taken a halt since then with whales cashing out and new participants coming in.
- Saylormoon grew from 20.000 to 26.000 holders in the dip, more jumping on as I write.
- The dip caused by the sell offs was eaten away and SMOON is ready to push further up
But Why The Hype? Why The Growth?
Saylormoon got a bit of tailwind from an Elon Musk post in twitter (yeah, him again...). That rose some initial attention and delivered the team behind Saylormoon a golden marketing opportunity. That means Saylormoon lives only by it's recent growth in popularity, so be aware of the fact that this is nothing but a bubble made of believes and dreams as of now.
It has to be praised though, that within just weeks after the token launch the SMOON token will be listed now on 2 exchange platforms - Pancakeswap where they originally started and now Hotbit as well, where many of your favorite meme coins like Shiba Inu got the push they needed to outshine all the other uprising coins.
Hotbit is going to list Saylormoon today which could very well mean another growth for this memecoin as awareness rises and they gain more reach. Now, the question is, will this help grow Saylormoon by another 10x?
They are also working hard on listing more exchanges in the future.
Saylormoon's SMOON Growth Potential
Bear in mind that this is still a very young token with only ~30 million market cap. That is tiny in comparison to it's brother Safemoon (SAFEMOON) which they aim to copy, who has whopping 2 billion of market cap. They speak to the same group of people, but newcomers feel more encouraged to join newer projects with bigger growth potential than those who will not move that much anymore in the near future.
Don't get me wrong here, I love Safemoon and hold it myself, but Safemoon has to deliver some real usecases for their token now in order to grow further whereas Saylormoon still lives off a dream and a hype momentum (which is dangerous by they way) and the vision to become a big player and make everyone rich in the process. The sheer possibilities and the very low price are what drives this thing up for the moment through promises.
So in terms of market caps, they have room to improve. A 10x doesn't seem so unlikely, keeping in mind they would reach a market cap of 300 Million to do so. It is well in the boundaries of the achievable. But it probably won't skyrocket there in just a day or two. Also that depends heavily on the amount of people that get convinced to join the bubble. Currently there are 26,000 holders. It would require approximately 260,000 for a 10x push.
Keep in mind that Saylormoon can go beyond the estimate of a 10x growth in price in a longer time frame, for it is steadily deflationary. In the nearer future another 10x growth would be the highest achievement for now, since by then many, many of the big players will cash out and the price will go into a sharp correcting course, probably falling by a 50% at least as we see in other new tokens all over the board. This is a warning to always expect the next move. Nothing will go up forever and dips or "crashes" are healthy for price development.
If you consider holding Saylormoon for a longer time frame you should check out their roadmap first and evaluate for yourself if you think it has enough programs to beat it's competition and justify a higher price through usecases.
In my opinion Saylormoon is just another meme coin for now. It has the power of affection by using Saylormoon herself as token advertisement, so at least the marketing runs almost by itself. I mean, who which 90's kid doesn't know Saylormoon and watched the show when he/she was little? ;)
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Disclaimer
Please don't take anything you read on this blog as financial advice. I'm not a financial advisor and collect information for educational sake and entertainment purposes only. Do your own research before you risk your money in anything. Be wise, think twice.
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