Just a little bit of perspective, Moons suffered a blow today as Reddit cut them out of their future plans and they have dropped -93% from an ATH of $0.57 to $0.04.
However, Safemoon ATH was $0.011 (price adjusted to V2) and is currently $0.000146 - a drop of -98%
So, things can always get worse, chin up lads :'D
Safemoon's negative price action has been caused by an extremely large token allocation given out in presale, where small amounts of BNB could buy large swathes of tokens. As Liquidity was added from buyers, the LP's were drained by the executive team and therefore when the initial whales sold it cratered the price. As news spread about misappropriation of funds, Safemoon has never regained that trust and the price has been on a 2.5 year slide down.
EDIT Just to clarify - this is gallows humour :'D as news spreads, Moons will obviously go down more.
[link] [comments]
You can get bonuses upto $100 FREE BONUS when you:
💰 Install these recommended apps:
💲 SocialGood - 100% Crypto Back on Everyday Shopping
💲 xPortal - The DeFi For The Next Billion
💲 CryptoTab Browser - Lightweight, fast, and ready to mine!
💰 Register on these recommended exchanges:
🟡 Binance🟡 Bitfinex🟡 Bitmart🟡 Bittrex🟡 Bitget
🟡 CoinEx🟡 Crypto.com🟡 Gate.io🟡 Huobi🟡 Kucoin.
Comments