Safemoon: A Guide to Navigating Hype Coins and Other Crypto Trends
With the rise of digital currencies, the market is flooded with new coins and tokens daily. Among these hyped tokens is SafeMoon, which managed to attract a cult-like following during the bull run of 2021 and 2022. However, many investors are still wondering now that the bear is roaring, is SafeMoon dead? What happened to SafeMoon? This guide will explore everything you need to know about SafeMoon, including how to buy it, its current status, and other crypto trends.
What happened to SafeMoon? Is SafeMoon dead?
SafeMoon and its token SFM were launched in March 2021. In the initial stages, the token gained a lot of popularity due to its reflex mechanism, including its deflationary tokenomics, which meant that a percentage of each transaction was burned, reducing the total token supply. SafeMoon made these tokenomics famous and gave birth to a new era of reflective tokens that mushroomed all over the cryptosphere.
But at some point the hype was gone due to lack of development and missed deadlines by the team. In addition, the team behind John Karony, SafeMoon’s CEO, faced criticism for their lack of transparency, marketing tactics and allegations of fraud.
In more recent news, SafeMoon hit another hurdle, with its liquidity pool falling victim to an exploit that drained the LP of $9 million. The hacker used a basic contract function, which could easily have been avoided. Another obstacle, which begs the question, is SafeMoon dead?
SafeMoon is far from dead, but it’s still questionable how long its loyal followers can keep up with the bad news.
How to buy SafeMoon
Before buying SafeMoon, you must have a cryptocurrency wallet that supports the coin. Various wallets support SafeMoon, including Trust Wallet, MetaMask and MyEtherWallet. Once you have a wallet, the next step is to buy Binance Coin (BNB) or Ethereum (ETH) from a cryptocurrency exchange such as Binance, Coinbase or Kraken.
After buying Binance Coin (BNB), you can use it to buy SafeMoon on various decentralized exchanges (DEX), such as PancakeSwap, or even centralized exchanges (CEX), such as BitMart.
Crypto ICO is the best way to make money in 2023 – Avorak AI
Initial Coin Offerings (ICOs), or pre-sales, are one of the most effective ways to make money in crypto. An ICO is similar to an Initial Public Offering (IPO) in the stock market, where companies sell shares to raise funds. In the case of ICOs, crypto projects sell tokens to raise development funds, and in return, investors get the opportunity to earn large profits.
ICO investments can be very profitable, with some investors making millions of dollars. According to Avorak AI, the latest hyped project and leading artificial intelligence platform for cryptocurrency analysis, ICOs will be the best way to make money in 2023. The platform uses machine learning algorithms to analyze market trends and identify profitable investment opportunities.
Avorak AI and its native token AVRK are currently available in the ICO phase, giving early buyers the opportunity to secure a place in the project before it launches. AVRK’s smart contracts are being revised, and an IPO agreement with Azbit has already been signed.
Also, the AI crypto protocol gives early backers the opportunity to secure up to 33% bonus tokens based on their investment and the chance to win $5,000.
Final thoughts
It remains to be seen if SafeMoon can recover in 2023. However, ICO is still the best way to invest in new cryptocurrency projects. One such opportunity is offered by Avorak AI, an upcoming leading artificial intelligence platform that gives investors access to AI-supported trading robots, chatbots and image generation tools.
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