Shiba or Safemoon Which Is More Effective?
Shiba or Safemoon are two tokens that have low market caps and have yet to see the demand they want. Safemoon is claimed to be worth around 0.25 cents while it is expected to replace the Shiba Inu Dogecoin.
We can say that Shiba or Safemoon are two cryptocurrencies with a lot of risk to invest. Cryptocurrencies have yet to overcome their volatility issues. In crypto investments, you should know that investing in altcoins is very risky and very difficult to analyze.
Shiba vs Safemoon
Memecoins has managed to become a brand in the market with different aspects from other cryptocurrencies. Overall, memecoins rank high among small investors, although most are backed by billionaire investors and business people. Accompanied by a crypto analyst, we examine the fundamentals of Dogecoin, Shiba Inu and SafeMoon. The most important issue is “the future of memecoins”…
Memecoins, unlike Bitcoin and Ethereum, are not innovative assets that find solutions to today’s world problems. While Bitcoin’s reputation comes from its market cap and technology, memecoins are growing rapidly in the market compared to digital currencies without being held to the same standards as other assets.
At the same time, many market players are looking for a new memecoin with the influence of small investors and a trend to drive widespread adoption by larger companies in 2021. This pursuit was also chosen for profit, regardless of the capabilities of the project. Marques Brownlee explains why assets like Dogecoin have become like this:
DogeCoin seems to have caught on because it started as a joke and now people are taking it seriously. It’s a joke but true.
Launched on Binance Smart Chain on March 8, 2021, SAFEMOON received chips from rapper Lil Yachty, famous Youtuber Jake Paul, and others. The development team made some bold promises, and while Safemoon has been trading for just a little over two months, it has seen more appreciation than the S&P 500 in the past decade. Safe tokens continue to be very popular in recent months. However, the low market cap and lack of money from large investors for SafeMoon make this token unreliable.
While SafeMoon has only come to the fore in the last two months, it is not yet listed on many major crypto exchanges. But fans are eager to announce it. Last week, SafeMoon landed in Times Square after a community fundraising and marketing initiative, with an ad claiming SafeMoon to be “the world’s fastest growing cryptocurrency.”
SafeMoon is a Decentralized Finance token, also a crypto token, founded by John Karony. Although SafeMoon is expected to make a big splash, it has not yet caught the investment and mobility it wanted.
On the other hand, memecoins could be at the beginning of the next steps as big players like Elon Musk want to push Dogecoin forward. Therefore, memecoins have great potential as well as risky assets. However, as the analyst points out, memcoins feed on uncertainty and can get derailed for the same reason.