SafeMoon is a relative newcomer to the cryptocurrency market, known for its tremendous volatility, high transaction fees of 10% and social media hype. SafeMoon, like better-known crypto coins like Bitcoin and Ethereum blockchain’s Ether, is based on distributed ledger technology and was created in March 2021 on the Binance Smart Chain blockchain.

SafeMoon’s creators say it was designed with the intention of encouraging long-term investment. Half of the 10% charged during transactions is shared among long-term holders, and the other to a liquidity pool that is intended to stabilize the price of SafeMoon, in contrast to Dogecoin, Shiba Inu Coin and a number of other cryptocurrency that seemed on the surface to be either a joke or bogus. But just like Akita Inu, Dogelon and other much smaller crypto breeds, SafeMoon appeared to be trying to cash in on Dogecoin’s popularity by investing in meme culture. 

Because the fee for buying into SafeMoon goes back to its earlier investors, SafeMoon has been regarded by some — including one SafeMoon investor — as a “Ponzi” scheme — an allegation that SafeMoon’s CEO emphatically denies. 

The project’s founders say they designed SafeMoon for long-term investment, and the 10% transaction fee is set intentionally high to discourage people from selling the coin and encourage long-term HODLers.  

SafeMoon is considered to be among the riskier investments in the crypto world. Like Shiba Inu, Safemoon has no particular…

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