SafeMoon CEO, the platform’s team, and the cryptocurrency’s followers are aiming for the Moon this year, and it looks like the whales are in a rush to get their hands on this meme coin. In the past weeks, the CEO of Safemoon has assured investors that there will be two listings for the meme coin early in the new year, giving hope to investors.
According to data provided by WhaleStats, a large Binance whale is worth $2 billion worth $5.77 million. SafeMoon (SFM) bought tokens. This was the highest purchase order since October for the specified whale address. After this move, the whale is thought to be waiting for a potential rise for this meme token in the new year.
🐳🐳 A BNB whale just bought 2,000,000,000 $sfm ($5,778,460 USD).
Ranked #10 on WhaleStats: https://t.co/4zMPxQ6ALg
Transaction: https://t.co/6Y3AyZAgV1#SFM #BEP20 #BNB #whalestats
— WhaleStats – the top 1000 BSC richlist (@WhaleStatsBSC) January 3, 2022
According to WhaleStats data, it was noted that the wallet address is 0xcd198be08a33cbe2172f3be45cdb431e060076bc and ranks tenth among the largest addresses. The transaction fee of the transaction, which took place on Sunday, was realized in return for 0.00728484 BNB.
You can find other details about the purchase in the image below.
Despite this massive whale move, SafeMoon has witnessed a downtrend of over 5 percent from the past day and is trading at $0.000002248 at the time of writing.
Whales Enter the Market with V2
SafeMoon transitioned from V1 to V2 on December 13 with an update containing 1000:1 consolidation similar to a reverse block split. The platform’s team stated that V2 will feature the increased quality, security and accessibility of SafeMoon. After these developments, it would not be wrong to say that investors, and especially whales, are very eager to benefit from the changes that the project will witness and the price movements that these will bring.
While not all hodlers have migrated from V1 to V2, the team promised that “the gateway to V2 will remain open.” Since V1 tax is now 100%, owners will not gain any incentive by holding SafeMoon V1. Instead, everything users buy or sell in V1 will be sent directly to liquidity.
Is It Time to ‘Buy SFM’ Yet?
Large whale movements could be an indicator of migrating tokens. However, the value of the transfer increased confidence in the market. Although the current price is on a downward trend, the token has gained 45 percent over the past week.
SFM may be aiming for an upward trajectory as whales take positions in new year markets. However, investors may want to wait for the first hype of the new year to pass first to understand the project’s true potential going forward.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Koinfinans and the author of this content cannot be held responsible for personal investment decisions.