![]() ![]() The word was then abbreviated to just meme due to its similarity to the word. Bitcoin and Ethereum are the two most popular and valuable. Why Is That MemeMeme coins have proven to be highly lucrative crypto. It is not uncommon for new cryptocurrency tokens to be introduced as developers seek to enter the market.ĬoinMarketCap, cryptocurrency price tracking site, currently lists a total of 4,743 different cryptocurrency tokens. Newsweek has contacted Lou Bagel and SafeMoon for comment. The altcoin, launched only weeks ago, is facing backlash from a Reddit Ask Me. If no-one is buying then investors are receiving 5% of nothing and no demand causing price to fall." SafeMoon (CCC: SAFEMOON-USD) has seen a fall from grace in the last few days that has been almost as rapid as its rise. Downfall: It falls apart when no-one new wants to buy. The 5% of transactions going to current investors ensures this. "Upside: Investors keep making money as long as new people are buying in. I would not claim this is a Ponzi Scheme but I do see the same upside and downfall. The best laptops for Ethereum mining in 2023 What is SafeMoon Before you hop on a nearby spaceship to a SafeMoon-supported crypto exchange, let's whip out our metaphorical telescopes and zoom in. One Reddit post yesterday read: "SafeMoon's market cap is over a billion dollars, and it's only existed for one month! We're making history."Īnalyst and crypto blogger Lou Bagel writes: "As far as I can see the coin has no utility. The currency has received a great deal of support from fans while some cryptocurrency enthusiasts have voiced skepticism. SafeMoon is currently worth roughly a four millionth of a dollar. SafeMoon has become one of the most-speculated cryptocurrency tokens on the web in recent weeks amid the Dogecoin surge. The team also announced some sort of NFT support in the SafeMoon wallet app. Currently the fundraiser has gained around $774,000 USD. The team has been seeking to raise $1 million to create the SafeMoon Exchange. That'll be the core function of the exchange." "Same with all of the other coins and tokens and things that we support. "So when you hold your Bitcoins with us and someone transfers Bitcoin on our platform, you're going to be reflected from that user, some of that Bitcoin," Smith said. He added the exchange would work in a similar way to the token, in that people will get rewarded for not selling-referred to as "holding"-and penalized for selling.
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