Cryptocurrency SafeMoon has investors’ attention. Cryptocurrency SafeMoon has more than tripled in price in the past month. SafeMoon is a…

Cryptocurrency SafeMoon has investors’ attention.

Cryptocurrency SafeMoon has more than tripled in price in the past month. SafeMoon is a relative crypto newcomer, created in March 2021. However, it immediately started making headlines upon launch with a huge run-up in April. SafeMoon was designed to encourage early investors not to sell. That design had produced a loyal group of early investors, but it has also opened the crypto up to criticism from skeptics. At this point, SafeMoon appears to be an extremely high-risk speculative investment. Here are three pros and three cons to buying SafeMoon if you’re considering betting on this crypto.

Pro: Valuable meme crypto brand

With more than 13,000 cryptocurrencies out there and new ones popping up on a weekly basis, the most valuable part of SafeMoon at this point is likely its branding. To stand out in the crowd, top-performing cryptocurrencies have generated cult-like social media followings and their brands have spread like wildfire online thanks to viral memes. Since its launch earlier this year, SafeMoon has regularly been trending on social media. Without a significant technological advantage over Bitcoin (BTC), Ethereum (ETH) or other top cryptos, the long-term success of SafeMoon may rely mostly on…

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