What’s special about Safemoon? Investors have been paying close attention to the SafeMoon cryptocurrency recently, and for good purpose. It was worth $0.00000007 when it first released on March 8, 2021. However, after a comparatively quiet month of life, the valuation of this little crypto has increased by more than 12,000 percent.
What exactly is Safemoon?
Safemoon and other Ethereum-based cryptocurrencies are excellent and better than other cryptocurrencies. The token seeks to classify itself as a decentralized Finance “DeFi” token, a “decentralized” exchange run by Binance.
The cryptocurrency operates in the same way as many other pyramid schemes. People who purchase or sell on it can profit or gain a loss of their money. Safemoon depends on consumers purchasing rather than selling the coin.
The cryptocurrency website charges an amount anytime money is sold to encourage people to remain investing in a coin of no real-world worth. The money that is collected is then shared between other clients, incentivizing consumers to keep their investments.
What is the Live Price for Safemoon?
SafeMoon’s current price is USD 0.00000619, down -2.04 percent in the last 24 hours. There has been a 0.86 percent increase in the last hour. SafeMoon’s market capitalization is $ USD, putting it in position #2433. The weekly values have increased by 128.56%.
The opening price for yesterday was USD 0.00000695, while the closing cost was USD 0.00000699. Yesterday’s high/low price was $0.00000762 USD / $0.00000591 USD, with a value of $68,326,449.95 USD.
For 7 days, the high and low prices are $0.00001399 USD / $0.00000216 USD, $0.00001399 USD / $0.00000023 USD, and $0.00001399 USD / $0 USD. For 30 days, the high and low prices are $0.00001399 USD / $0.00000023 USD, and for 90 days, $0.00001399 USD / $0 USD. You can view the live price for Safemoon at the Bogged Finance site.
Safemoon’s History
The cryptocurrency is a relatively modern one that uses blockchains to stabilize the platform. It is similar to other cryptocurrency platforms, such as Bitcoin, with almost identical code. The main distinction is that some features are already available on Safemoon, which other cryptocurrencies have not implemented.
Safemoon first began operating in 2021 is has now gained some traction. Although the rise in percentage gains is important, the profit or loss made is highly unpredictable. Safemoon’s “security” label belies the fact that cryptocurrency is one of the riskiest investments you might make.
Is Investing in Safemoon a Good Idea?
Safemoon is not a successful investment from a fundamental standpoint. However, as early DOGE buyers discovered, there might be capital to be made. Safemoon’s price is highly unpredictable, and after falling by more than half today, the blockchain token is already up over 1,000 percent in the last several weeks.
When you try to sell your Safemoon, you will be paid a 10% exit fee. This encourages naive investors to save their money even though the economy offers greater prospects. These payments are then allocated to buyers who do not sell their tokens, encouraging them to keep their money in the coin.
Final Thoughts!!
It’s anyone’s guess if the SafeMoon cryptocurrency would be able to maintain its rocket-propelled trajectory to the moon. Yet, there’s a lot to like about this brand-new cryptocurrency. We’ll explain why then give you all the information you’ll need to get started investing… if it makes sense for you.
