Is the SafeMoon V2 A Good Choice For Investors in 2022? How Much Do You Know?
2022-04-22 16:24:47
Is SafeMoon A Good Investment?
SafeMoon V2 price today is trading at $0.0007243 USD with a 24-hour trading volume of $ 28900000M, the price of which is down 4.06% in the last 24 hours, according to Gate.io, the only top exchange with more than 1400+ coins. Interestingly, the price of Safemoon V2 has recently increased by a considerable amount in value, rising from $0.0006 to $0.0008 within 48 hours, with an increase of more than 35%. However, investors should be wary because this sudden rise may be related to a 39-minute video of the SafeMoon team who was allegedly defrauding investors, which was likely to raise the profile of this digital asset.
SafeMoon V2 price today is trading at $0.0007243 USD with a 24-hour trading volume of $ 28900000M, the price of which is down 4.06% in the last 24 hours, according to Gate.io, the only top exchange with more than 1400+ coins. Interestingly, the price of Safemoon V2 has recently increased by a considerable amount in value, rising from $0.0006 to $0.0008 within 48 hours, with an increase of more than 35%. However, investors should be wary because this sudden rise may be related to a 39-minute video of the SafeMoon team who was allegedly defrauding investors, which was likely to raise the profile of this digital asset.
What Is Safemoon V2?
SafeMoon V2, also known as SFM-USD, was launched in December 2021. As an updated version of the SafeMoon contract, SafeMoon V2 is a plan that Safemoon announced to launch its own blockchain, cryptocurrency exchange, hardware wallet, and macro Internet of things infrastructure on its own blockchain. In fact, Safemoon V2 failed to generate any long-term hype that the original SafeMoon project did. As of today, the new SafeMoon V2 token is down almost 90% from its all-time high. Moreover, the SafeMoon team has been under heavy scrutiny. Thus, the future of SafeMoon does not seem favorable for investors.Is Safemoon A Good Choice For Investors In 2022?
According to some experts, SafeMoon price won’t look up in the long run. Firstly, due to the recent defrauding video. Firstly, due to the recent defrauding video, investors are losing confidence in it. Also, SafeMoon's shift from V1 to V2 also left a sour sentiment for its investors. The SafeMoon developers gave investors just a few hours' warning before imposing a 100% tax on non-migration V1 transactions. In the end, Safemoon's investors lost about $6.3 million from the sudden transaction tax. Besides, the lost money went into SafeMoon's liquidity pool, possibly controlled by its owners. It should be mentioned that all this confusion could have been avoided by a different migration method in which investors would not have lost any money. Therefore, given all the allegations of fraud behind this project, I think you should avoid investing in SFM-USD. Moreover, SafeMoon's long-term profitability seems illogical, as investors are unlikely to regain confidence in the asset. Therefore, it’s expected that Safemoon V2 will continue its long-term depreciation. Also, due to the increasing number of frauds on new tokens like SFM, I strongly recommend that you prioritize investing in time-tested cryptocurrencies like Bitcoin (BTC-USD) and Ethereum (ETH-USD) until regulators can make low-cap currencies safer.Popular News
