Why is SafeMoon (SAFEMOON) crypto gaining attention?

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Why is SafeMoon (SAFEMOON) crypto gaining attention?

Safemoon crypto
Image source: © 777ers | Megapixl.com
Highlights:
  • SafeMoon is a human-focused innovative technology that focuses on expanding the popularity and efficacy of blockchain technology.
  • The SAFEMOON token is available for trading on several exchanges like PancakeSwap (V2), Gate.io, etc.
  • It returned gains of over 773% in the last seven days.

The SafeMoon crypto caught the eyes of investors on June 6 following a huge surge in its price. Its price skyrocketed more than 768%, while its volume for the last 24 hours was up more than 1% on Monday morning. Meanwhile, the cost of the SafeMoon V2 or SFM token, SafeMoon's new contract address, jumped more than 5% on June 6.

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What is SafeMoon crypto?

SafeMoon is a human-focused innovative technology that focuses on expanding the popularity and efficacy of blockchain technology. It creates new products based on blockchain, commerce, metaverse, and non-fungible tokens (NFTs) to enhance its valuation.

Its website claims that the project is a decentralized finance token focusing on four operations during each trade. The functions include "Reflection, LP Acquisition, Token Burn, and Growth Fund".

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The SafeMoon protocol comprises an RFI tokenomics and an auto-liquidity generating protocol. In addition, it is reportedly planning to develop an NFT exchange.

Meanwhile, with the SafeMoon V2, the project is now focusing on the second stage of its mission, expanding and channeling its technology for innovations. Additionally, it plans to follow a Venture Philanthropy model for advancing and spreading its innovations globally.

The SafeMoon token holders earn through holding or buying the token, as its coin-burning strategy increases the token's value over time. This feature makes it a deflationary digital currency.

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It would be expanding to add a centralized exchange and NFT marketplace, it said, alongside its decentralized exchange and Mobile App already released.

There is no apparent news for the recent surge of the SAFEMOON token, but the rally in its price suggests a growing interest of investors in the token. Meanwhile, speculations that the launch of its centralized exchange might pump up the token price may also have attracted various crypto enthusiasts. Additionally, the gains in the global crypto market could have triggered its price rally.

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SafeMoon (SAFEMOON) crypto price and performanceData Source: CoinMarketCap.com

Bottom line:

The SAFEMOON token was priced at US$0.0000009146 at 10:13 am ET on June 6, up 768.20%, while its volume for the trailing 24 hours rose 1.08% to US$25,104. It has a market cap of US$514.41 million, and its fully-diluted market cap is over US$914.95 million.

The token has a maximum supply of one quadrillion, and its current circulating supply is 562,227. It returned gains of 773.09% in the last seven days.

The SAFEMOON crypto saw the highest price of US$0.000001456 and the lowest price of US$0.0000000782 in the last 30 days.

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