Is Safemoon Scam or Legit Crypto Project?

• SAFEMOON has recorded a huge 30-day growth rate of almost +2000%.
• Market analysts are skeptical about the SAFEMOON crypto’s true intentions.

The crypto world continues to be competitive in providing new cryptocurrencies that help people in their everyday lives. In fact, there are over 6000 digital assets in the crypto world, and this number keeps increasing every day. In terms of aggressive performance, the SafeMoon (SAFEMOON) cryptocurrency is one of the most talked-about digital assets in the crypto space.

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In the past days, SAFEMOON has recorded a huge growth rate of almost +2000%. Indeed, this is a rate level that favors all the people that invested early in the network. In addition, the team behind SAFEMOON also expressed their joy in the progress that the crypto has already achieved. 

However, as the SAFEMOON community celebrates the all-time-high (ATH) that the crypto has reached, others do not. The latter are the people that are being skeptical about the sudden surge of SAFEMOON’s price.

Furthermore, crypto enthusiast Lark Davis also made a statement regarding the sudden skyrocket of SAFEMOON price. He said:

Bitconnect was for a brief moment a top 10 #crypto, the people making money did not want to accept it as a Ponzi, they made every excuse to justify it, and attacked anyone who stated the obvious. Then it rug pulled, and everyone lost big time, SAFEMOON is no different.

Moreover, SAFEMOON continues to rock the crypto world as it keeps its market position along with the bulls. In terms of market supporters, the crypto has already accumulated over a 24-hour trading volume of over $100 million. With this huge market trading volume, it is clear to say that the people support the crypto despite the left and right issues that SAFEMOON is facing. 

Based on the graph above, SAFEMOON remains above the bullish price of $0.00000594. Specifically, this position of the crypto has a growth rate of +39.4 in the past 24 hours. If this trend keeps on, SAFEMOON might create another ATH in reaching the price of $0.00000800 to $0.00001000. Of course, this might be possible if the bullish market continues to favor the crypto.

Consequently, if the traders and investors of SAFEMOON stop supporting the crypto, the bullish faith of the crypto may turn the other way around.

In terms of market listings, the crypto is listed in exchanges such as BitMart, Gate.io, and PancakeSwap, to name a few. This list of exchanges can provide the needs of all the interested traders in buying, trading, and selling SAFEMOON crypto.

When it comes to market opinion, the crypto world is split into two, one side in favor of the bullish performance of the crypto while the other continues to doubt the legitimacy of the platform. Regardless, it is still too early to say the true motive of the SAFEMOON network, whether it is just another ponzi scam or a legit network. 

For this reason, traders and investors are advised to do in-depth research before investing in any cryptocurrency. As a result, investors can avoid losing huge amounts of funds that cannot be recovered.

Further more the youtube channel “D-Crypted Investments” described about Safemoon as well.

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Disclaimer:

The technical analysis expressed in this article does not reflect the views of CryptoNewsLand (CNL). Readers of this article should not take this as financial advice. CNL strongly recommends that all users do their own in-depth research before investing in cryptocurrency.