SafeMoon: More Likely To Sputter Out Than Rocket To The Moon

Michael W Byrne profile picture
Michael W Byrne
1.72K Followers

Summary

  • SafeMoon has a fully-diluted market cap of over $2.5 billion as of April 27th after rising as high as $4 billion over the weekend.
  • Promoters are using time-tested penny stock tactics to lure in investing novices.
  • With a quadrillion tokens issued, for SafeMoon to 'just hit $0.01', the market cap would have to surpass all other wealth in the U.S. combined, which isn't happening.

Woman profile silhouette portrait with moon in her head
Photo by primipil/iStock via Getty Images

While the traditional financial media has been wringing its hands over Elon Musk's dalliance with Dogecoin (DOGE-USD), a more unsavory coin has caught fire on social media and seems to be stealing

This article was written by

Michael W Byrne profile picture
1.72K Followers
Writer, individual investor, and MBA student. I also write and create content for several top fintech and cryptocurrency companies. I am particularly focused on cryptocurrencies and SPACs and I am also currently especially interested in energy and commodities, the digital payments space, and tech/software. I am interested in any opportunities that may arise outside of Seeking Alpha based on my work here so please feel free to contact me.

Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Additional disclosure: Additional disclosure: I am long Voyager Digital, Marathon Digital, Galaxy Digital, and a variety of cryptocurrencies. This is purely an academic exercise for our internal use and you should NOT invest based solely on this note. Investing in any security involves risk. Potential investors should use this article as a starting point for their own research and due diligence. Before making any investment, you should do your own proper due diligence on any name directly or indirectly mentioned in this article. I am NOT a registered financial advisor or investment professional. Investors should also consider seeking advice from a broker or financial adviser before making any investment decisions. This article is for general information purposes only, and should not be relied upon as a formal investment recommendation.

Recommended For You

Comments (43)

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.