![]() It is unclear what is causing the downturn, though Yahoo! Finance reports China's cryptocurrency crackdown is gathering pace. The next two days saw the SafeMoon account gain 110,000 followers, and led many to. ![]() Ethereum is down around 8 percent to just over $2,000. Ahead of DogeDay, the eponymous celebration for Dogecoin (CCC: DOGE-USD), SafeMoon began trending on Twitter. Bitcoin is currently down around 7.0 percent to a price of $32,900.ĭogecoin is down over 9 percent to $0.25. In this article, we have listed 5 Safemoon pros and cons for you to determine if it is a worthy investment for 2022. Undoubtedly, its newness has driven investors to think is Safemoon a good investment or not. But many critics believe that it is a scam or a Ponzi scheme. Meanwhile, many prominent cryptocurrency tokens are down sharply this morning. In a matter of days, the SafeMoon price shot up 7000. However, despite a flurry of media attention the token's value actually crashed instead of rising, down around 20 percent at one point the following morning. It was launched back in June and is a liquidity generation protocol. In April 2021, the Dogecoin cryptocurrency community pushed an event they called "Dogeday," in the hopes the token's value could increase to $1. Safemoon Swap has been trending on Twitter, and their token is also up in the last 24 hours. The SafeMoon trend is not the first time cryptocurrency fans have tried to popularize a price rise movement. One prominent example of a squeeze is the GameStop short squeeze, in which the Reddit community WallStreetBets bought up significant amounts of GameStop stock in an effort to put pressure on short sellers. It can be positive or negative depending on who is affected. SafeMoons official Twitter account posted a video tutorial on how to buy SafeMoon using PancakeSwap. In the financial world, the term "squeeze" is a broad one and generally refers to a situation in which there is some sort of market pressure. It was launched in March and works by issuing a fee on each transaction, which is then partially distributed to the rest of the people who own the token. SafeMoon is one of many altcoins, a cryptocurrency token that is an alternative to Bitcoin, to gain popularity this year. Experts have previously warned Newsweek about the risks and dangers associated with cryptocurrency investing. These figures are likely to change and it's unclear if they're linked to the squeeze.Ĭryptocurrency prices are notorious for their volatility. The token's price is down 1.4 percent over the past 24 hours at $0.0000038, according to CoinMarketCap data. Popular SearchesSafeMoonSafe MoonSIC Code 72,722NAICS Code. The trading volume of SafeMoon, a measure of how much of a token is traded in 24 hours, is up slightly over the past 24 hours by around 0.8 percent at the time of writing. Crypto Scam Victim Loses $384,006 to Fake App: 'I've Shed a Lot of Tears'.Mark Cuban 'Hit' by Titan Crypto Crash As Coin's Price Falls to Near Zero. ![]() Mark Cuban Regrets 'Not Doing the Math' on Titan Crypto Investment.
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