The current total market value of SafeMoon is close to $1 billion, ranking it 214th in terms of market dominance, according to CoinMarketCap. Not bad for a brand new cryptocurrency competing with more than 9,000 other coins, but not necessarily a good investment , either.
Read moreIs SafeMoon safe investment?
There’s no evidence that SafeMoon is an outright fraud , but analysts have warned that many popular altcoins appear designed largely to help developers and early investors get rich at the expense of later buyers.
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