Is Safemoon Crypto the 2nd Dogecoin? - Kakiforex.com - Financial Market Media No. 1 in the World Is Safemoon Crypto the 2nd Dogecoin? Is Safemoon Crypto the 2nd Dogecoin?
InstaForex

April 22, 2021

Is Safemoon Crypto the 2nd Dogecoin?

 Recently a new crypto called SafeMoon has been a frequent chatter over the past few days among investors as it delivers a tremendous amount of return value.


It first launched last month. It can be said that Safemoon has only been around for a few weeks. Although not many people know about the purpose and project of Safemoon, but due to the expectation that it will give a lucrative return, many are FOMO (FEAR OF MISSING OUT) that is afraid of being left behind in making a profit investing in the token.


Based on the Safemoon website, the company states that their tokens are DeFi tokens or decentralized financial tokens. Safemoon also claims that they will reward people who buy and hold their crypto. For those who sell will be charged 10 percent as a fee from each sale.



Most investors see this as a risky investment as it only encourages people to continue buying and has not yet been listed on leading and trusted crypto exchanges. Plus it is driven by demand and supply. SafeMoon has recorded an increase of over 1100% and their subreddit already has 100 thousand members.


Despite recording excellent performance, the large price drop caused many to begin to be skeptical about the background of the project founder, the purpose of the project and the progress of the project.


For example, investors should understand the risks of crypto investing and invest at a loss -willing rate. At the same time also consider consumer protection, price fluctuations, product complexity and charges imposed.