As always, I write this RocketMoon coin analysis in one sitting with no editing. Naturally, I reserve the right to make some spelling and grammar mistakes here and there. You will get the gist of the analysis anyway.
Crypto Twitter has been filled with a lot of SafeMoon lately. It caught my attention and I could not see the utility and purpose of the project. I have a preference to invest in blockchain projects that has clear utility and use-cases, preferably already adopted. Turns out that SafeMoon is a highly speculative crypto with some interesting tokenomics. I did not think much about it. Typically, I would avoid speculative projects, but it is always interesting with projects that becomes hugely popular and 1000x in a short-time. Which SafeMoon is well underway of doing. So, I thought I would make an RocketMoon coin analysis of this new project.
I then stumbled across RocketMoon, which looked both similar in name and nature. With the difference that it just launched. At the time of writing, the RocketMoon project is around 72 hours old. I am currently entertaining the idea of throwing in a couple of BNB in the project, which would be a highly speculative bet. Seeing the similarities between the projects, the returns could be significant even if RocketMoon only has 10% of the success that SafeMoon had.
If you look at the RocketMoon chart on dex.guru now it looks extremely discouraging after the initial take-off following the hours after their launch. I imagine that many early buyers were scared off and sold on the way down from the ATHs. Many of the buyers on closer to ATH FOMO'd (Fear Of Missing Out) into RocketMoon and then realized a loss by selling. And many potential buyers are on the fence because the chart looks discouraging.
As one of the most successful investors and businessmen once said. Obviously, Warren Buffett would not be found buying neither RocketMoon nor SafeMoon. But the mantra is true, though. Question if it is time to be greedy with RocketMoon right now?
If you zoom out on the RocketMoon chart you can see this shortly after launch:
Similarly to RocketMoon right now, many people were probably shaken off during the early dips of SafeMoon. The same sellers most likely re-entered SafeMoon at some point and enjoyed some great returns given how the SafeMoon charts are looking like right now. Similarly, many buyers that were hesitant during the dips started buying once it went up.
If you zoom out on the SafeMoon chart you cannot even see the chart movements from the previous image. It is at the beginning of the horizontal line between the 4th and 11th of March. Pretty insane.
If you look at the SafeMoon charts, RocketMoon has a considerable upside even if they only achieve 10% of what SafeMoon has achieved. That remains to be seen of course, I am just thinking out loud here while contemplating if I should throw any money at RocketMoon or not.
Here is the current chart of RocketMoon on dex.guru:
Both RocketMoon and SafeMoon are DeFi blockchain projects. High yielding and auto-deflationary. There are some differences in the projects and some similarities.
RocketMoon token scarcity is driven by the fact that tokens are automatically burnt on each transaction, creating an ever-decreasing supply of $RMOON.
Every 24 hours, the top 100 holders and liquidity providers are rewarded with airdrops. This effectively works as a protection against big whales selling off their holdings as there is an incitement to hold and get rewarded. A lot of $RMoon holders seem to have an issue with this, what they fail to realize is that, over time, the price will be more stable as large holders are less likely to sell off their holdings.
The team behind RocketMoon are also running many schemes together with the community and rewarding participants with airdrops. Which becomes a sort of ongoing airdrops which reward active community members (holders) of $RMoon. Passive $RMoon holders will not be rewarded, though. But any holder of RocketMoon will reap the benefits of the auto-burn mechanism.
I won't go into full details about the project here, you can read RocketMoon litepaper on Medium here.
SafeMoon also has a mechanism related to transactions being made, but instead of burning it is related to rewards. There is a concept for static rewards, where the award amount correlates with the trade volumes of $SafeMoon. One of the ideas behind the static rewards is to alleviate the downward trends coming off of whales selling after farming $SafeMoon to very high APY (Annual Percentage Yield).
Similarly to RocketMoon, SafeMoon also has a burn mechanism. But in the case of SafeMoon, the burns are controlled and manual, as opposed to the auto-burn mechanism in RocketMoon.
SafeMoon has another additional mechanism to off-set dips when large whales sell of their holdings. The Automatic Liquidity Pool which is part of the mechanism of distributing rewards to SafeMoon holders. In theory, the automatic liquidity pool is supposed to stabilize the price of SafeMoon. Looking at the charts, the question is if it really works as a stabilizer. Probably it works to some extent given that the volatility is not too high or the aggregated sell-off are too large.
I won't go into full details about the project here, you can read the SafeMoon white paper here.
RocketMoon is much less popular given its age, very few in the crypto space are aware of the project. The number of holders is growing steadily though, around 1,300+ every 24h. Currently, there is 4,587 addresses holding $RMoon according to BSCscan.
Still a long way to go until RocketMoon reaches the number of addresses holding $SafeMoon, currently at 465,075 according to BSCscan.
Very much early days for RocketMoon and it remains to be seen if they will every 100x into 458,700 holders. If they do, the price of $RocketMoon is literally going to rocket to the moon.
Below are some of the short-term triggers that could increase the likelihood of that.
RocketMoon was already listed on CoinGecko and quickly spiked for an ATH. A listing on CoinMarketCap will likely bring RocketMoon to a new ATH and a much higher floor if it dips afterwards. All of these authoritative resources of cryptos will add to the legitimacy of the RocketMoon project. There are many more resources such as CoinGecko and CoinMarketCap. According to official communication, several of these are being worked on. Meaning that more sites will have RocketMoon listed and increase the exposure of the project and bring more buyers along.
The team behind RocketMoon have submitted a request to list with Delta Exchange. This would make $RMoon much more accessible compared to the current way of acquiring RocketMoon, through PancakeSwap.
Additionally, per the message from a developer from the team in the official RocketMoon Telegram chat, they are also working on a listing on Zapper and Blockfolio.
There are several third-party auditing companies out there which helps certify the security and legitimacy of blockchain projects. One of these are Solidity Finance which currently helps protect over 150+ projects to an on-chain value close to $1 billion. Their auditing report is currently in progress and is expected to be passed and announced soon which will help strengthen the legitimacy of the RocketMoon project and give holders and potential buyers reassurance around safety and security.
There are several other blockchain auditing companies that could independently audit the tech, code and smart contracts of the RocketMoon project. Including Hacken and CertiK.
Auditing in blockchain projects are needed due to their decentralized nature. Smart contracts place trust in the code that is being used. Code that potentially handles hundreds of millions dollars worth of cryptocurrencies. Third-party auditors such as Solidity Finance and CertiK go through the code, assess how safe it is and then provides a certification if the project manages to go through the rigorous testing processes employed by the auditors.
One thing that is apparent with RocketMoon is the lack of solid branding and marketing. The tech is there and the number of holders are growing rapidly, this is of course important. But to get adoption at scale, not only the tech needs to be in place.
Many projects that are good technically but lack marketing and branding. A team may have great competence when it comes to developing the tech and the products, but they suck at marketing or building a strong brand. This is something SafeMoon have managed extremely well with, I would say that a large part of their success is due to very professional and cool packaging that appeal to the masses
I wish I could say the same of RocketMoon, unfortunately they have a poor looking project in terms of both website and commercial material. I am assuming this is because no designers or commercial/marketing people have been involved with the project. It is largely a large group of developers who are great at writing code and building, but not very good at get their stuff out there and gain traction with buyers and holders.
It has been communicated that a new website is on the way, which is good. I hope that in relation to this, they will also up their branding game as they need some brand guidelines that stay coherent across the website, social media and communication channels.
Improving around this will have a massive positive effect on the project. Not much work is needed either so there are quick gains that can be realized very quickly.
Documentation and visuals are very valuable as it is reusable and scale-able. Create a set of templates for social media and announcements, of high quality, needs to be cool, can't be difficult to achieve considering the name Rocket and Moon. Lots of things to do around space there. Re-use these in different announcement. Share it with the community which can use it and leverage the scalability of such assets. Can be achieved in a day and start producing great results in a matter of hours.
There are a couple of places you can follow the RocketMoon price and check the chart:
RocketMoon can only be bought through PancakeSwap.
This could potentially be a million dollar question.
I still didn't decide on whether to buy or not. I am leaning towards it when looking at the charts, keeping the following in mind:
"Be fearful when others are greedy and greedy when others are fearful."
Seeing that there has been a lot of sell-off, and we are in a dip that seem to be bottoming out, it may be the perfect time to be greedy.