Despite having no top celebrity, actors, musicians, and entrepreneurs backing it, SafeMoon has still managed to gain the limelight. Its investors are mostly common folks spread across the world who want a better life for themselves and their families.
The cryptocurrency industry has come a long way in recent years. More than ever before, crypto traders have endless options on where they want to trade. They can trade on centralized exchanges, decentralized exchanges, and even brokerages such as Robinhood.
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Steep rises and unexpected dives in the price of cryptocurrencies are relatively common. As the market stabilises, the volatility has slowly decreased, but irrationality will always be part of the trading game.
Bitcoin is increasingly viewed as a legitimate means of exchange. Many well-known companies accept Bitcoin payments, although most partner with an exchange to convert Bitcoin into U.S. dollars before receiving their funds.
The bears tried to pull Bitcoin below the breakout level at $67,000 on Nov. 9 but they could not sustain the lower levels. The modest pullback indicates that bulls are buying on every minor dip.
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The SafeMoon price climbed 46,533% from the launch to peak at $0.00001399 on April 20th before falling back down to its original value of $00000361 by May 2nd, when it rebounded once again.
The growth of SafeMoon, coupled with its online slogan, has drawn comparisons to the surge in popularity of another cryptocurrency Dogecoin. (Pic: Shutterstock)
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Bitcoin and some other cryptocurrencies’ values have skyrocketed in recent years. Bitcoin’s price has more than doubled in 2021, and Ethereum has more than quadrupled in value this year.
There are also petitions through Change.org to have DogeZilla listed on major exchanges including Robinhood, Crypto.com, and WeBull.
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It will impose a 10 percent penalty tax fee on sellers and redistribute five percent of this tax to other people who already own the cryptocurrency.
"In fact, open pump and dump schemes are rampant in the crypto world, with investors often jumping in with eyes wide open, perhaps hoping that they can ride the wave and dump their holdings for a quick profit before prices collapse," he said.
Israeli Defense Minister Benny Gantz ordered security forces to seize the accounts after a joint operation “uncovered a web of electronic wallets” used by Hamas to raise funds using bitcoin and other cryptocurrencies, the ministry said.
The current Safemoon crypto price is $0.000002663, up more than 17% in the last 24 hour period.
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