Founded by an alias of “9ZEROES”, DogeZilla models itself as a community-based project.
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.
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Some experts say this is high risk as SafeMoon’s success relies heavily on more and more people buying the currency to keep the price up.
Of late, crypto prices have risen on the back of comments from billionaire Elon Musk and Ark Investment Management LLC's Cathie Wood. In late July, Elon Musk said Tesla was "most likely" to start accepting bitcoin as payment again. The comment helped the cryptocurrency race past the $30,000 level.
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The flag-wavers point to these and other concerns to warn that SafeMoon may not, in fact, be safe.
“We are with venture capital [a stock market] list. The venture capital market is currently in very good shape, so we’ll probably follow that route, but we’re looking at both, “says Brooks.
The market has been quite bullish on Bitcoin. Despite more than 13,000 cryptocurrencies listed on CoinMarketCap, Bitcoin remains the dominant digital currency.
With cryptocurrencies such as Bitcoin, Ethereum, Doge, Shiba Inu and Solana touching all-time highs, the number of traders has also grown exponentially, said market watchers. Top exchanges have recorded a 200-500% jump in the number of day traders who make money merely by taking positions in various crypto assets.
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).
Bitcoin price skyrocketed to USD 67,803 and Ether price has gone up to USD 4,825 in the Asian trade market. Both cryptocurrencies have more than doubled since June and added nearly 70 per cent against the dollar since the start of October. While Bitcoin has a market capitalisation of USD 1 trillion, Ether is the second-biggest cryptocurrency by market value, the Reuters report said. Also Read - Diwali, Dhanteras Investment Tips: Check Top Cryptocurrencies Other Than Bitcoin
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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.
Even after falling back from its latest all-time high price, Bitcoin’s current price still represents a big upswing from the low $40,000 range seen in September.
SafeMoon’s Facebook page states: “Remember, getting to the moon takes time and the longer you hold the more tokens you pick up.”
SafeMoon is one of the most popular new cryptocurrencies of 2021, but can you buy the currency on the Coinbase or Binance exchanges?
The term “miners” relates to the fact that miners’ work literally creates wealth in the form of brand-new cryptocurrency units.