Currently, many social media users are trying to influence the price of Safemoon crypto. The hashtag #SafeMoonSqueeze is trending on Twitter. The users are hoping to induce a GameStop or AMC-type squeeze in Safemoon, which would lead its price higher. In April 2021, Dogecoin fans had also done a similar push to propel its value to $1. However, the push didn’t work and the value of the DOGE token declined.
Similarly, the hashtag hasn’t done anything positive for Safemoon crypto until now. Trending in line with the broader crypto market, the price of Safemoon is going lower. China’s intensifying crackdown on crypto is probably hurting the market sentiment.
For Safemoon crypto to reach a penny, it will have to rise by 34,264 percent from the current price. In the short to medium term, that seems highly unlikely. Going by even the most bullish price estimates, Safemoon reaching a penny in even five years doesn’t seem like a very likely bet. However, going by Safemoon’s deflationary nature and its promise of price stability, it might continue its upward run after the recent pullback.