SAFEMOON: Is The HODL-Currency Scam?
Safemoon is being hyped as a “Get Rich Real Quick”-opportunity by the crypto-community. As the name suggests, a SAFE way to get to the MOON. But in fact, the coin receives a lot of criticism for not having a real use-case and exploiting the DogeCoin momentum.
That’s why in the following we will discuss the growth story of Safemoon.
About SafeMoon
SafeMoon is a fairly new, highly volatile cryptocurrency — a so-called altcoin, a blockchain-based digital currency. More precisely: a DeFi token.
Although Safemoon was only launched in March 2021, the altcoin from the Binance network now already has more than 1 million users, according to its founders. On CoinmarketCap.com, SafeMoon is currently even watched by more users than Cardano for instance. The market capitalization is now at $1,142,000,000.
Like Dogecoin, SafeMoon is much cheaper per unit than Bitcoin, ethereum, or Ripple’s XRP. Thus, many crypto beginners buy SafeMoon expecting a similar performance. Safemoon was extremely rewarding for early buyers. On April 20, its price hit an all-time high of $0.00001399. That means a price increase of 20,000% — which is just insane! Already with a 100$ investment, you would have become a millionaire.
