First launched in March of 2021, Safemoon began to surge in price about a month later, thanks to effective marketing by the founding team.
When that’s the case and demand increases, the price of that underlying asset goes up. Roughly speaking, this is the simplest way to address how the prices of cryptos fluctuate.

Another property of Safemoon which has attracted wide criticism is the ownership pattern of the current supply of the token. A large proportion of Safemoon’s total liquidity is owned by members of the founding team. Although these funds are in a so-called lock-up, such concentration of ownership is often a cause for serious concern in the crypto space. In part, this concern is because of the influence that major holders—called whales—have over price movements when they sell.
Cryptocurrencies’ supply and value are controlled by the activities of their users and highly complex protocols built into their governing codes, not the conscious decisions of central banks or other regulatory authorities.