SafeMoon, a cryptocurrency, has recently more than tripled in price in the last month or so. SafeMoon is a budding cryptocurrency, having been founded in March 2021. However, with a massive run-up in April, it instantly began making headlines. SafeMoon was created to persuade early investors not to sell their shares. That design resulted in a devoted set of early investors, but it also exposed the cryptocurrency to doubters’ criticism. SafeMoon looks to be a high-risk speculative investment at the time.
This cryptocurrency has a recognisable brand. With over 13,000 cryptocurrencies available and new ones appearing on a weekly basis, the most important aspect of SafeMoon at this moment is most likely its ability to be recognised.
Top-performing cryptocurrencies, like Dogecoin and Shiba Inu, have created cult-like social media followings in order to stand out from the pack, and their brands have spread like wildfire online.
SafeMoon has been trending on social media since its introduction earlier this year. Without a substantial technical edge over Bitcoin (BTC), Ethereum (ETH), or other leading cryptocurrencies, SafeMoon’s long-term success may be based mostly on the power of its brand.
One of the riskiest aspects of investing in SafeMoon, like other meme cryptocurrencies, is its excessive volatility and lack of liquidity. The chance for the cryptocurrency to plummet as severely as it has surged may be part of the fun for investors seeking an adrenaline rush or a gambler’s high, but it isn’t for everyone.
However, since SafeMoon imposes fees to discourage selling and is not traded on some of the big crypto exchanges. SafeMoon’s market is significantly less liquid than that of other famous cryptocurrencies.
So currently, one of the only options to trade SafeMoon is via Binance’s decentralised exchange, PancakeSwap.
An interesting and beneficial thing about this cryptocurrency is that SafeMoon was created to encourage long-term investment while punishing short-term trading. Any investor who sells is subject to a hefty 10% fee. Half of the charge is put into a liquidity pool to help maintain price stability. The remaining half is allocated to SafeMoon’s current holders. In this manner, every time another SafeMoon investor sells, SafeMoon investors gain passive revenue. SafeMoon investors earn even higher passive income as a reward for keeping during moments of downturn when selling pressure increases. These fees may not compensate for SafeMoon’s price losses during such periods, but they do assist compound rewards if prices finally rebound.
SafeMoon suffers from a lack of utility and is not accepted as a payment mechanism by any big retailers. As such, it is much more difficult to swap it for fiat currencies or other cryptocurrencies since it is not traded on a lot of major centralised crypto exchanges, and SafeMoon has no technical edge over other cryptocurrencies in terms of transaction speed, security, or other aspects.
It’s very common for budding crypto projects to be accused of dishonesty, and even Bitcoin (BTC) has been suggested to be a Ponzi scheme by detractors, but the centralised control of SafeMoon has opponents especially worried. It’s been reported that SafeMoon’s CEO holds more than half of the coin’s liquidity. Insiders at SafeMoon are making a lot of money passively.
Some opponents see comparisons between SafeMoon and Bitconnect, an infamous cryptocurrency that went bankrupt over allegations of fraud. There is no indication that SafeMoon is a scam, but researchers have cautioned that many popular cryptocurrencies seem to be structured primarily to benefit early investors at the cost of subsequent customers. An interesting and stable new cryptocurrency is HUH Token.
The HUH Token is a self-proclaimed “Utimeme” that intends to combine the power of social propagation with NFT platform features and a comprehensive smart contract. It features a strong social component and a creative smart chain based recommendation mechanism. This allows the HUH Token holder to promote an unlimited number of non-HUH Token holders via a purchase code.
This referral rewards 10% of the new HUH Token holder’s first purchase. This 10% is allocated in Binance Coin or Ethereum depending on the exchange chosen. As a result of this, coin holders may generate passive income while also increasing wallet stability by spreading their holdings across many cryptocurrencies. This means that the more tokens you keep, the more tokens you get.
The HUH Token has locked in a staggering $1,000,000 in cryptocurrency liquidity for two years. This liquidity is split equally between Uniswap and PancakeSwap, the token’s two exchanges.
Shellbox and Solidity Finance have audited this coin, and the Certik audit is expected to be finished this week. The HUH Token white paper will be released this week and will help define the brand’s goals and capabilities.
HUH Token’s presale ends in a few days and has seen an incredible amount of deposits almost totally allocated. Always research your financial decisions thoroughly before making any fast decisions.
Follow HUH Token on their socials before they launch: