They say the early bird catches the worm.
In this case, the early bird who bought in at $100 caught $120,700.
photo credit Coinmarketcap app
Volatile is probably an understatement when it comes to trading cryptocurrencies.
A lot of coins come and go, while some of them just vanish just as fast as they pop out.
On March 8, 2021, SafeMoon Protocol was launched.
How it achieved 120,779.94% increase in just 22 days is just mind boggling.
So how did they do it?
Let’s talk about SafeMoon Protocol.
What is SafeMoon?
According to their website, The SafeMoon Protocol is a community driven, fair launched DeFi Token. Three simple functions occur during each trade: Reflection, LP Acquisition, & Burn.
Simply put, there is a 10% tax in each trade. This tax is divided in to three parts. For each buy or sell transaction on SafeMoon, 5% is redistributed amongst all SafeMoon holders. The remaining 5% is then divided into two parts where half goes to the Liquidity Pool, while the other half is burned and taken away from the total number of circulating coins.
So as people keep on trading SafeMoon, the total number of coins in circulation decreases over time . Furthermore, the SafeMoon team do regular token burns every now and then.
SafeMoon had a total circulating amount of 1 quadrillion or 1,000,000,000,000,000. Over the past weeks, a total of 389 trillion tokens have already been burned which leaves around 600 trillion left in circulation.
photo credit Safemoon.net
Perhaps what separates SafeMoon from the rest of the new coins popping here and there is that the people behind it are not afraid to show their faces to the public.
Meet the SafeMoon Team
SafeMoon Protocol has also evolved since its conception 3 weeks ago. Their original website have crashed a number of times because of heavy oncoming traffic. They had no choice but to upgrade.
During the upgrade, they have also put together a clear road map as to where the SafeMoon team wishes to see the token in the months or years ahead.
The new official website for the SafeMoon Protocol can be found at the very bottom of this article.
How can you buy Safemoon?
If you’re asking if is it still profitable to buy SafeMoon Protocol when it has already increased 120,000%, these are some things to contemplate on.
- The SafeMoon Protocol project is 22 days old.
- In that span of time, SafeMoon has reached over 100,000 token holders.
- The price has soared 120,779% in just 22 days.
- It has a low market cap of $169.2 million.
- The SafeMoon community who played a major role in spreading word about this token is more bullish than ever.
- SafeMoon has secured enough funds from donations and is already in talks with a couple of cryptocurrency exchange platforms to have their token listed.
Despite their efforts to downplay being listed in the exchanges, they appear highly optimistic.
7. When HOGE.Finance (another cryptocurrency prior to SafeMoon) was listed in one of the crypto exchanges, its price soared to over 94,000%.
Then again, this is not meant to be taken as financial advise. Any form of trade involves a certain degree of risk and should be done with much due diligence.
If you’re itching to get your hands on this new token, here’s a short video tutorial on How To Buy SafeMoon Protocol via Pancake Swap.
TIP: You will need to enter the SafeMoon Bsc Contract # manually because it will not appear under the dropdown list in PancakeSwap.
The SafeMoon Protocol Bsc Contract #: 0x8076c74c5e3f5852037f31ff0093eeb8c8add8d3
After you copy and paste, just click “add” and it should now auto-populate when you type SafeMoon.
Using MetaMask? Here’s how you can buy SafeMoon with MetaMask.
As of this writing, SafeMoon is priced at $0.0000003305 and is up 22.90% in the last 24 hours.
Official Website: https://www.safemoon.net
Are you buying SafeMoon Protocol? Let me know your thoughts.
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