Even during the present bull run where coins are clawing back to their previous highs of May 2021, SafeMoon is among the handful of coins that is sending mixed signals and is trading both in 'red and green', causing anxiety among investors as to which direction the coin is headed.
The coin has slipped close to 90% from its all time high of $0.00001094 on May 11, 2021 making it seem reaching its ATH again would take months or years, as the clawback isn't easy.
SafeMoon in Trouble as it's Not Getting New Investors
While meme-cryptocurrencies are all the rage in 2021, SafeMoon seems to have failed to capitalize on the frenzy and missed out on catching the bus, while Dogecoin and Shiba Inu are adding record number of new investors into their fold each day.
To put it in simple words - SafeMoon isn't really getting new investors and the buying pressure has decreased. This might cause the price to drop further.
SafeMoon had boasted of having 2.5 million investors a month back and today, the number still remains more or less the same with 2,539,764 holders, as per their website.
If the numbers don't increase, SafeMoon could be in big trouble. For a coin to remain stable, buying pressure needs to be added and investors need to hold on to their portfolio for a longer time but that isn't the case for SafeMoon.
In a financial market, investors don't hold on to their portfolio forever and will eventually pull out after being frustrated that the coin/stock isn't shooting upwards.
The major factor of discouragement would be when investors see a bull run across the board, but have to fold their hands and wait a little bit longer for SafeMoon to start spiraling upwards.
Here's What SafeMoon Can Do To Attract New Investors
SafeMoon needs to collaborate with top crypto influencers and attract new and first-time investors into its fold.
Another important factor which should not be missed is to get SafeMoon listed on several trading apps around the world.
The developers need to work on getting the coin listed on these apps and a direct 'buy button' would do wonders to the coin and add a large number of investors into its fold and increase its volume.
The present way of buying the coin with tedious steps of exchange swaps is a turn off to many and not every investor would tread that path.
The upcoming SafeMoon Wallet could also be a game changer for the coin but that would be short lived and will not pull the coin out of its misery. The launch of the wallet is on August 28, 2021.
SafeMoon has lots of potential to be the 'next big thing' and the developers need to focus and act swiftly to bring the coin back on the right direction and reward investors with handsome returns.
At the time of publishing, SafeMoon was trading at $0.00000203 and is up +5.32% in the days trade.