Samoyedcoin Price Prediction – SAMO Token Potential 2023 – 2025

While DOGE could be without real utilities when it was the only meme coin around, the rise of an entire meme coin sector required cryptocurrencies that belong to it to come up with something new.

In the case of Samoyedcoin, the project started using market strategies and other tactics where its team is trying to educate and onboard people into Solana’s community.

Samoyedcoin itself has a strong and active fanbase that calls itself the Samo Famo.

Samoyedcoin price right now

At the time of writing, October 6th, 2023, Samoyed’s price is $0.002946. The token has been sinking in value for quite a long time now, until May 24th, when it suddenly skyrocketed.

However, its price dropped immediately after the surge and returned to the range at which it was trading previously.

Samoyedcoin currently ranks as the 714th-largest cryptocurrency by market cap, which currently sits at $10.1 million. The asset has seen around $202k in daily trading volume over the last 24 hours.

SAMO is a capped cryptocurrency, with its max and its total supply being the same — around 4.74 billion tokens. However, its circulating supply is lower, currently at 3.65 billion SAMO, meaning that not all of its current coins are in circulation. Currently, only 77.04% of SAMO is in circulation.

Where can I buy Samoyedcoin in October 2024?

Samoyedcoin is available on a number of platforms, including both centralized and decentralized exchanges. It is primarily paired against USDC, USDT, SOL, ETH, or fiat currencies.

Some of the biggest platforms that have the token listed include the following:

• Kraken
• Gemini
• OKX
• Raydium
• Gate.io
• Orca
• Jupiter
• LATOKEN
• Bitrue
• BitUBU
• Poloniex

You can find this taken on 29 different CEXes and DEXes, but the ones listed here are among the biggest and most popular ones, so do check them out.

Samoyedcoin price history

Despite the fact that Samoyedcoin has been around for nearly two full years, its price action did not see a lot of action.

Once again, this is a meme coin and not a stablecoin. And yet, the chart showing its entire price history looks mostly flat, apart from a surge in late 2021, right before the crypto winter kicked off.

When the token launched in 2021, its price was at $0.009501, and immediately after launch, it dropped below its launch price. It remained below it from May until October 2021, when it finally joined the bull run that took Bitcoin to the price of $69,000.

As for SAMO, it started a surge in late October that took it to $0.2183. The token reached this value on October 29th and has served as its all-time high to this day.

Immediately after hitting this level, however, SAMO price crashed to $0.10, only to then surge once more to $0.2026 by November 7th.

This was around the time when the bull market ended and the crypto winter began. SAMO price started spiraling down, dropping to $0.0136 by January 25th, 2022.

After this drop, the price saw a slight rise to $0.030 in February 2022, only to then keep dropping, once again going under its launch price in May last year.

In late June, the SAMO price actually started to recover, which lasted for two months, allowing it to hit $0.0169 on August 15th, 2022.

However, this was the highest it has reached since then, and after that, it simply kept dropping for the rest of the year, ending 2022 with a price of $0.0029 on December 31st.

While we did say that SAMO price mostly ignored the recovery that started in January 2023, this is not entirely correct.

The price did start growing in one sharp spike, which took it from $0.003155 on January 5th to $0.0071 on January 6th of this year. The price crashed back down over the next few days, and it saw little movement over the next five months.

Then, without any warning, SAMO price skyrocketed on May 24th, going from $0.0029 to $0.0136 in only a few hours. However, it then crashed equally quickly and has since been on a continuous downtrend.

How is the price of Samoyedcoin (SAMO) determined?

As a meme coin, Samoyed is not an asset that has a fixed price. It is subject to changes constantly, and it moves up and down as influenced by a number of different factors.

As such, it can be quite volatile, like all non-stablecoin cryptocurrencies. As for what factors can influence its price change, there are several major ones worth referencing, such as:

Supply and demand

The first big factor, and arguably the biggest one that influences the price of Samoyed, or any other cryptocurrency, is a two-parter: supply and demand.

Supply shows how much of the asset is available on the market, while demand shows the investors’ willingness to buy it.

Obviously, both of these change all the time, and with them, the price changes as well. As for how they change, that depends on the market conditions. Optimism among investors tends to increase demand, and with more buying, the supply drops.

These two combined result in a price surge. Meanwhile, if the investors start selling, the supply increases, and the price goes down.

There are situations when only one of these two aspects changes while the other does not, in which case the price change might not be as meaningful as when they both work together.

Social media

While social media is not a big factor for every cryptocurrency, it has been very influential when it comes to meme coins. This is likely due to the fact that meme coins’ performance is not based on utility but rather on popularity.

This is why increased mentions of Ethereum have little to no effect on the ETH price, but a single tweet by someone like Elon Musk is capable of sending Dogecoin on a bull run.

With SAMO being a meme coin, it is likely that it would react in a similar way to DOGE rather than like ETH.

Volume

Changes in volume can also be a big contributor to price changes since they might affect the investors’ stance toward a specific cryptocurrency.

For example, if the asset has a high volume, it means that it is being traded a lot. This means that it has high liquidity, so traders are more likely to try and make small profits off of minor price changes since they expect they will be able to get in and out quickly.

Overall, volume is not a huge contributor, but it does contribute overall, so it is worth keeping that in mind and keeping an eye out for sudden volume surges among the coins and tokens you are interested in.

Broader crypto market sentiment

A much bigger influence comes from the broader crypto market sentiment.

While each coin works independently from others, crypto prices have been known to move in unison and follow a broader trend.

During bull runs, almost all cryptocurrencies are skyrocketing, while crypto winters make almost all cryptocurrencies experience price drops.

It is also not unheard of for the coin or token to go against the market and see a surge while the others are dropping, or vice versa. This can happen if a cryptocurrency sees impactful positive development while the market is trading in the red.

However, it usually has to be quite a big development for that specific coin to make it reverse the trend, and such individual trend reversals typically do not last for very long.

Utility and development

Speaking of impactful developments, they can greatly influence crypto prices. Developments like new updates, adding new features and mechanisms, and alike, could have a massive influence on the price since they might attract new users simply by giving the coin or token new utilities.

The more use cases a crypto has, the more it is worth owning since it is no longer only about the price. With new use cases, the coin becomes actually useful for more than just speculative investing.

Things like staking, loans, governance, and alike are among the most popular utilities for a cryptocurrency.

However, almost any development is enough to give prices a boost, as it shows that the project is actively being improved by the developers and that it is working on offering more options to the community.

How often does the price of Samoyedcoin change?

Samoyedcoin’s price changes constantly since the asset is not backed by any real-world or digital asset that would keep it stable.

The previously mentioned factors, alongside multiple smaller ones, influence it around the clock. This comes from the fact that trading is not limited to specific days or times of day like it is in traditional markets.

Cryptocurrencies can be traded non-stop, 24/7/365.

This can be beneficial or risky, depending on how you choose to go about it. It can be beneficial because it means you can trade anytime.

However, so can everyone else, meaning that a new trend can take over in the middle of the night. If the new trend ends up being bearish, you can miss out on an opportunity to earn more money by selling earlier, at best, or suffer losses, at worst.

As a result, it is important for crypto traders to use risk management tools and ensure that the price action will not lead them to losses when they aren’t looking.

Remember, not only does the price change all the time, but it can take a drastic turn at any moment.

You must always be ready to react or set up your order in a way where it will be closed automatically if the price reaches certain levels.

Investing in Samoyedcoin

If you decide to invest in Samoyed tokens, you should consider asking several questions about it first.

Answers to these questions could help you decide whether SAMO is a worthy investment or if you should stay away from it due to the heightened risk. For example, consider the following:

Is it worth buying Samoyedcoin in October 2024?

So, the first question is should you buy Samoyed now, in October 2024 Is it worth it?

The answer is complicated. Samoyed has shown a potential to grow back during the bull run of 2021, but ever since then, its price has just been crashing down.

It only briefly responded to the price recovery in January 2023, showing that it is slow to join a bullish trend, which could mean that it is not one of the investors’ favorites.

You might say that the token skyrocketed on May 25th, and quite a bit, at that. However, with no clear reason behind the surge, this could have just been a pump caused by low liquidity since the price has gone down so much.

The token surged and crashed equally sharply, so this cannot be taken as a recovery or a reason to buy it now in order to make profits. If anything, it appears that shorting would be a way to go.

Who should invest in Samoyed?

As a meme cryptocurrency, Samoyed is not a project that aims to solve a problem or improve existing systems in any industry.

It is simply a fun little project based on a popular dog meme that has allowed the likes of Dogecoin or Shiba Inu to go on a popularity-based surge.

Today, these two have become major brands and competitors, and they are interesting to investors due to their first-mover advantage.

Samoyed launched when the meme coin sector was at its peak, and it did not bring anything new to the table that would make it stand out from the rest of them. It might still be a fun investment for meme enthusiasts or speculative investors.

However, this might only be the case during the bull market when investors are more likely to invest in assets they are not particularly excited about.

How to get started with SAMO investments?

If you do decide to buy Samoyedcoin, you can do so in several short steps.

The token is available on a number of exchanges, as we mentioned earlier, so check them out, see which ones are available in your area, and then compare them to determine the best one.

Once you do that, follow these steps:

1. Create an account on your crypto exchange of choice
2. Verify your account by uploading your ID or other documents that the platform requests to prove that you are who you say you are
3. Once your account is verified, you can deposit some money that you will use for investing. On many centralized exchanges, you can purchase with fiat currencies directly, or you can deposit USDT, USDC, SOL, or some other cryptocurrency that SAMO is paired against.
4. With your account funded, simply select the appropriate pair, enter the amount, and make your purchase
5. After the tokens are in your possession, it is recommended that you withdraw them from the exchange, except if you are planning to use them in short-term trading. If you wish to invest in SAMO, it would be wise to withdraw them to a private wallet, preferably a hardware wallet (cold storage), in order to keep them safe

Investing in Samoyed tokens responsibly

Investing in Samoyed is fairly simple, as you can see above. However, for their own safety and the safety of their funds, investors are advised to try and invest responsibly.

To help you understand what that means, we have prepared a few tips that you should consider following.

These can be used for investing in most cryptocurrencies, so try to memorize them and include them in your strategy.

• Don’t use the first exchange you come across — do your research and find all platforms available to you, and then compare them to see which one offers the best SAMO price, the lowest fees, and alike. Also, pay attention to the platform’s reputation, whether it is regulated, how long it has been around, and alike. Doing so will help you avoid scammers or platforms with bad terms.
• Research Samoyedcoin as much as possible and learn everything you can about it. This will help you decide whether you really wish to invest in it, and what it has to offer.
• Make a technical and fundamental analysis of Samoyedcoin. That way, you will know what is going on with its price and where it might head moving forward.
• Listen to the experts’ opinions on SAMO, but only to better understand it and educate yourself. Do not follow the investment advice, no matter who it is that is providing it. Always make your own decisions based on the facts and your own conclusions.
• Do not invest all of your money into SAMO. The main rule with investing in risky assets is to diversify, so you won’t lose all of your money if the prices drop unexpectedly.
• Once you buy Samoyed, keep its tokens in a private wallet. Not doing so leaves them and you exposed to potential hacking attacks. On top of that, while they are in the exchange’s wallet, they can be confiscated or frozen by the platform.
• Remember to use a VPN to mask your online traffic. Being a crypto investor might already make you an attractive target for hackers, so using a VPN to mask your traffic could prevent someone from monitoring what you are doing. It won’t mask you as a crypto investor, apart from those who might be monitoring your traffic already, but every way of improving your security is worth it.

Samoyedcoin taxation

One more thing to keep in mind if you invest in Samoyed coin is that crypto investments are now subject to taxation in most countries around the world.

While there is still a major lack of regulations for the crypto industry, most governments have introduced taxes on crypto profits, and depending on the country, they can be quite high.

Obviously, that means that each nation has its own tax rules, so you will have to do some research and find out how much you owe from your profits.

It would be preferable to learn this information before you make any profits in the first place, as the height of the tax might even make investing in crypto not worth it.

On the one hand, you have high-risk investments, and on the other, a large percentage of the reward might be taken from you due to the standing tax laws.

As such, taxation is a big factor to consider.

Day-trading Samoyed vs. Long-term SAMO investments

One of the biggest considerations that crypto users must consider is whether they wish to be investors or traders.

Both of these methods of dealing with cryptocurrency are perfectly legitimate, and they can both help you earn a lot of money. However, they let you earn in different ways, and you need different skill sets for each.

Investing, for example, is a way to earn in the long term. If you wish to be an investor, you need to buy cryptocurrencies, lock them up in a safe, secure wallet, and forget about them for months, sometimes even years.

Of course, this is only the basic principle. There is some work involved, primarily research before you invest.

You need to familiarize yourself with the coin or token, its technology, goals, utilities, the potential for growth, decide if it has the capability to thrive in bull markets and survive crypto winters, and more.

If your findings suggest that it is a good investment, all you need to do is buy it, lock it up, and be patient. You can just wait, and the market will eventually boost its price.

Investing is based on the belief that prices will grow in time as adoption and interest in cryptocurrencies itself grows. So, if you have found the right asset, waiting a while is all you need to do, and then cash out when the time is right.

On the other hand, there is crypto trading, which is much more complex. If you are a day trader, you need to pay attention to all kinds of things when trading digital assets.

The project’s long-term potential is not of much interest to traders, but they could still benefit from fundamental analysis. So, they should pay attention to the news and various developments surrounding the project.

A far more important aspect is technical analysis, meaning the project’s price chart, various technical indicators, and other tools.

Traders need to know how to recognize these indicators, which ones are the most reliable and which ones can be misleading, how to spot patterns on price charts and recognize what the price might do next based on subtle hints.

Next, during the trading itself, they must know what risk management tools are there, how they work, how to use them properly, and how to set them up.

They also need to be cool-headed and logical, and react to technical indicators, and not be under the influence of FUD or FOMO. All of this combined is extremely overwhelming for newcomers, especially since even with all of this in mind, you can still make a wrong move and lose your investment.

Obviously, all of that means that trading is a much more stressful process, but the benefit is that you get to earn money daily, whereas investing requires you to wait for several years for the price to reach a high point.

Trading won’t earn you much per trade, but if you continue to have successful trades as often as possible, the earnings stack and you end up with quite decent money.

As for which one can earn you more, trading or investing — this is impossible to tell. There are simply too many factors that affect everything. Instead of focusing on that, you should focus on which of the two methods seems like a better fit for you.

If you work well under stress and you find the prospect of risky trading exciting, then day trading might be just the thing for you.

If not, then investing could be a more relaxed but still eventually rewarding option.

Price predictions for Samoyed tokens

Finally, we come to an aspect that everyone is interested in, whether they are a trader or an investor, and that is price prediction.

Everyone wants to know what is expected from Samoyedcoin, or any other crypto, despite long-term price predictions being unreliable.

In fact, they can be described as educated guesses, at best. However, they are a good way to determine how expert investors feel about them, so they are still worth considering, just don’t take them at face value.

Speaking of SAMO, WalletInvestor believes that the token will have a bad 12 months and that its price will drop to $0.000168 a year from now.

This is, obviously, bad news for investors, although volatility might still make the asset worthwhile for day traders.

CoinCodex is bullish on the asset and expect SAMO to hit $0.003688 by the end of 2023, which is much higher than the current $0.0028 price tag and just the kind of opportunity that day traders might be waiting for. 

As for their prediction for years to come, CoinCodex is bullish on assets in 2024, 2025, and 2026. It expects SAMO to go anywhere from $0.021 to $0.063 by this time next year.

The best Samoyedcoin alternative

As we have seen, Samoyed did not impress in 2023 so far, and by far, its best performance was in late 2021.

However, a lot of investors are more interested in newer cryptocurrencies that are just coming out, like Meme Kombat.

Meme Kombat, an emerging project in the world of memecoins, has garnered considerable attention for its innovative approach. Its rapid growth is partly attributed to the project’s ability to draw an audience from existing meme projects. This is largely attributed to Meme Kombat’s standout feature: automated AI-generated battles, allowing players to place bets using the native crypto, $MK.

The integration of memes with a robust utility factor positions Meme Kombat for substantial growth over the coming months and years, surpassing the potential of projects like Samoyed, given the current landscape.

The recently concluded presale witnessed a substantial influx of funds, underscoring the evident interest and demand for the project. For those in search of a new meme coin with greater potential than Samoyedcoin, exploring Meme Kombat is highly recommended. Its unique blend of entertainment and utility sets it on a promising trajectory within the memecoin space.

Buy Meme Kombat

Conclusion

Samoyedcoin (SAMO) is a fun and interesting cryptocurrency, but the problem is that it is not the only coin of this kind.

It came out alongside many other dog meme-based cryptos, but it did not capture the attention of the market as strongly as the rest of them.

Unlike DOGE or SHIB, which rank in the top 15 largest cryptos, SAMO ranks as the 714th. Whether or not this will change for the better remains to be seen.

The project could still develop utilities and become far more useful and popular, or it might not.

For the moment, it is not the best investment in the meme coin world. But, there are good alternatives, such as Meme Kombat, which has just launched now, when the interest in meme cryptocurrencies with utility is at its peak.

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