SafeMoon vs Dogecoin: Which is a More Safe Option for Investment?
With the introduction of new cryptocurrencies, investors have now got many new opportunities to invest their money safely. SafeMoon and Dogecoin are two new crypto coins that are now gaining the attention of investors in the cryptocurrency world.
Many people are in a big doubt regarding choosing the right cryptocurrency for their investment. Dogecoin was introduced in 2013 as a meme but it spiked in its value after Elon Musk posted a few tweets about it. Soon, Safemoon marked its entry into the cryptocurrency world on March 8, 2021.
Since its introduction, SafeMoon is witnessing a boom in its popularity and its value is increasing at a constant rate. At the time of writing this post, SafeMoon has got $1.65 M as its Market Cap value. It is a defi coin with liquid pooling auto staking and it is enjoying an increase in its community.
SafeMoon’s volume decreases over time and its value increases with every transaction. It happens due to the burning process of SafeMoon. With every transaction, 5% of SafeMoon gets burned permanently and 5% of it gets redistributed among other shareholders.
Many crypto experts have supported SafeMoon over Dogecoin due to the consistent positive performance of the former. Over the last three weeks, SafeMoon has shown an impressive performance in the cryptocurrency trading world.
SafeMoon has the potential to grow in the future as it is performing well in the market. Although it is not yet listed on any exchange, it is likely to be a part of an exchange in the near future.
Until now, there is no big name who has come into this crypto coin’s support. Still, it is doing well in the market. Hence, experts say one could consider choosing SafeMoon over Dogecoin for making an investment.