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Wildride cryptocurrency SafeMoon down 28% in 24 hours

By Adrian Holliday

16:23, 27 April 2021

Photo of astronaut on moon

DeFi token newbie SafeMoon has given investors a wild ride, crashing hard. A week ago it was trading close to $0.000015 but is now nearer $0.00005, 28% down in the last day.

While traders have gifted SafeMoon a massive interest spike little is known about the new entrant. US-based (it’s thought) SafeMoon claims it will ultimately reward investors by hanging onto their token rather than selling it.

Full manual control

The under-the-bonnet protocol has a number of functions backed by a development team that creates tokens manually to control circulation supply.

SafeMoon – it launched on 8 March – has also slapped a 10% tax penalty on selling. It also claims a further 5% of that tax penalty is shared with other SafeMoon owners.

DOGE/USD

0.39 Price
+17.300% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 22:00 (UTC)
Spread 0.0012872

SOL/USD

215.92 Price
-2.000% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 22:00 (UTC)
Spread 2.2652

BTC/USD

89,491.35 Price
+1.800% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 22:00 (UTC)
Spread 106.00

XRP/USD

0.69 Price
+11.440% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 22:00 (UTC)
Spread 0.01168

There have been a number of comparisons with Dogecoin though Dogecoin appears to be somewhat stabler in comparison (though it’s relative).

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Bitcoin down, SafeMoon up

The cryptocurrency twist though is that SafeMoon has seen substantial rises – SafeMoon climbed more than 900% between 16-20 April – while bitcoin has seen strong drops.

SafeMoon is bought via the Binance Chain Network but isn’t listed on bigger exchanges like Coinbase.

-
Sell
Spread
Chg%
Trade
go to page
-0.71%
go to page
-0.03%
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+1.80%
go to page
+11.44%
go to page
-0.99%
go to page
+0.09%
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-6.22%
go to page
-0.41%
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+17.30%
go to page
-3.38%

Read more: SafeMoon price prediction: should you choose it over DOGE?

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