SafeMoon price live: Is SafeMoon mooning? Token’s unique security
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SafeMoon has emerged with Dogecoin as another unexpected success on the crypto market. The coin, which is technically a DeFi token rather than cryptocurrency, has stoked excitement as investors look to tip it towards the dollar. The token’s developers have included safeguards to help encourage people to hold their product.
Is SafeMoon going to the moon?
The SafeMoon token has given investors a new wind, with renewed interest powering a surge in growth.
Much like Dogecoin, SafeMoon has gone from a fringe unit to an overnight powerhouse enjoying more popularity (but still far less value) than established coins such as Bitcoin or Ethereum.
The SafeMoon buying frenzy has now pushed it over three times its worth within three weeks.
The token is currently worth $0.00000577 (£0.0000041), up from $0.00000198 (£0.0000014) at the start of the month.
While it hasn’t matched the dollar yet, total growth amounts to 2981.4 percent.
As such, SafeMoon’s developing team has now declared the product is “mooning”.
Coins start mooning when they gain off-the-charts growth, and SafeMoon recently hit new highs.
Thomas Smith, a member of the token’s core team, declared victory yesterday.
Posting on the company’s discord, he spoke about SafeMoon’s “unprecedented” success.
He wrote: “Wow. I love you all so much. We’ve done something unprecedented.
“We Spoke with them and SafeMoon has caused BSC (Binance Smart Chain) infrastructure issues!”
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“I’m here to tell you, we’re mooning. This has NEVER HAPPENED.
“We’re officially the hottest token in the world.
“Thank you for your support, let’s keep going.”
SafeMoon’s unprecedented growth has likely held thanks to a unique feature.
The token’s developers encourage investors to hold on to units by adding an incentive.
They have strapped a 10 to 12 percent sales charge to transactions.
SafeMoon burns half of these charges, while the rest goes to existing token holders.
The initiative means sellers pay an extra price, while those who keep their supplies make additional gains.
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