Earlier this year, in addition to Dogecoin (DOGE) and Shiba Inu, SafeMoon was among the most talked about crypto tokens and became hype for quite some time. Originally, it didn’t offer anything interesting and different except a reward guarantee to hodlers (long-term investors).
It’s not only being hype by crypto youtubers but Youtube celebrities like Jake Paul and rapper, Lil Yatchy are also talking about it. Based on Safemoon’s website at an early stage, the company stated that their token was a DeFi token or a decentralized financial token. Safemoon also claims that they will reward people who buy and hold their crypto. For those who sell will be charged 10 percent as a fee from each sale.
The SafeMoon price started rocketing at the end of April from the price level of 0.0000008018 to 0.000012 with an increase of more than 14x in a week. Then the SafeMoon price fell to the level of 0.0000040 and made a jump back to 0.000010 in mid -May. After that SafeMoon continued to lose its sting and only managed to trade at the 0.0000030 level until November.
As the crypto community is well aware that the market is facing a fall in prices at the end of last week. SafeMoon was among the most affected cryptocurrencies with a 69% drop in value last month, yet the cliché is the number of holders continues to rise. According to data obtained by Finbold, the number of SpaceMoon token holders has increased by 25,568 from 2,905,468 holders on November 22 to 2,931,036 on December 6.
Currently, Safemoon is trading at $ 0.000001363 down 10.87% in 24 hours. Waima has a market size of less than $ 1 million and is ranked 225th among the top crypto assets in terms of market limits, SafeMoon has amassed a sizable online following.
On December 5, SafeMoon was ranked eighth among the top ten most frequently mentioned crypto assets on Twitter this week. The token received over 151,757 mentions and is currently listed in the top ten in line with Bitcoin (BTC), Shiba Inu (SHIB), and Ethereum (ETH).
SafeMoon CEO John Karony has given holders an update on SafeMoon via his tweet;
“#SAFEMOONARMY, BitMart has been hacked. We are working with them to rectify the situation.
SafeMoon products are secure (SWaP and Wallet). Please take preparatory steps while we get more information. ”
