Despite its success, SafeMoon still remains to be an undervalued crypto among the investors’ community. The coin is still in its initial days as it was launched in March, 2021. Early investors would be rewarded in the long run when the token finds it way into top trading platforms.
A number of figures have significantly impacted the cryptocurrency industry throughout its time. Satoshi Nakamoto kickstarted the sector with the creation of Bitcoin (BTC). Known for building Ethereum (ETH), Vitalik Buterin has also notably impacted the cryptocurrency movement. With Ethereum came a whole world of extra tokens built on its network called ERC-20 tokens.
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(Bloomberg) -- To investors hunting for the next Dogecoin, the more than 19,000% price gain that cryptocurrency SafeMoon posted in its early weeks was like catnip. Though the price of the four-month-old token has dropped since then, more than 2.4 million investors have bought it, according to its developers.
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.
Its competitors, Dogecoin and Shiba Inu faced several lows for months and years straight but are at a different position now. SafeMoon could walk the same path as its competitors and would find a ‘breakout’ all of a sudden.
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Bitcoin notches new all-time high after inflation data shows prices are surging at the fastest rate in 30 years
The token is listed on over 12 crypto exchanges and posted a 3% drop in price over the past 24 hours.
Bitcoin’s surge continued overnight on Monday as the cryptocurrency soared to $68,568.85 in value in the early hours of Tuesday morning, according to Coinbase.
FTX's Sam Bankman-Fried said solana was one of the few blockchains with a roadmap to scale million of transactions.
However, about 310 users suffered a more serious breach, including the release of their names, birthdays, and zip codes.
Fig 5. Wavelet coherence scalograms between online factors and price (with GSADF test bubble overlay) for Litecoin and Bitcoin.
But some say the BITO ETF is not enough, because while the fund is linked to Bitcoin, it does not actually hold the crypto directly. The fund instead holds Bitcoin futures contracts. While Bitcoin futures follow the general trends of the actual crypto, experts say it may not track the price of Bitcoin directly. For now, investors must continue waiting for an ETF that holds Bitcoin directly.
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SafeMoon doesn't tout itself as a cryptocurrency but instead as a DeFi token, a decentralised finance token. DeFi’s aim is to bring about disruption to the financial world and enable people to lend in peer-to-peer networks without needing a physical bank.