While no official announcement by either of the companies in question has been made in regards to a partnership, social media is full of users waiting for the statement.
When the coin gets accepted the way Dogecoin and Shiba Inu have, SafeMoon’s price could propel to new highs. It’s only a matter of time for that to happen and won’t take too long to get there.
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Safemoon offers a unique way of investing in cryptocurrency, as people who hold Safemoon and then sell it are subject to a 10% fee. This fee is halved, with 5% of it being given back to other Safemoon holders – the developers call this ‘reflection’. The additional 5% is split again, with 2.5% being used within the liquidity pools on exchanges such Pancake Swap, with the other portion being converted into BNB.
The riskiness is taken a step further when it comes to newer coins because they make you more vulnerable to scams when compared to ones that have been around longer such as Bitcoin.
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Earlier today, Bitcoin (CRYPTO: BTC) flash crashed to $8,000 on Binance U.S., the American trading platform of the world's top crypto exchange Binance.
The market for cryptocurrencies has roughly quadrupled from its 2020 year-end value [File: Paul Yeung/Bloomberg]
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Bitcoin’s price spiked above its previous record high of $67,700 seen in late October on Tuesday morning in a continued surge of support for the world’s most popular cryptocurrency.
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After an initial sharp share price increase of 910% in April, the crypto is currently valued at £0.000003 after recovering 7.4% in the last 24 hours (22-23 June).
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“If it is a Ponzi, get in on the ground floor,” he said. In about an hour, the price of SafeMoon rose 18 per cent. A Barstool Sports spokesperson was unable to confirm whether Portnoy still owns SafeMoon.