Coffeezilla’s Fraud Allegations Effect On The Price Of SafeMoon
- May 11, 2022
Lately, there have been constant accusations from the popular internet detective Coffeezilla a.k.a Stephen Findeisen against the leadership of SafeMoon’s token, that the leadership has been adding SafeMoon from the sellers to the SafeMoon liquidity. What is the effect of the allegations surrounding the SafeMoon leadership on the SafeMoon price? What will be the price prediction for SafeMoon in 2022 in the midst of these allegations? The BEP-20 token on the Binance Smart Chain (BSC) is a major competitor to the Ether decentralized financial system.
The SafeMoon price fell nearly 50% in 24 hours following the latest video allegations against the SafeMoon leadership. This massive bearish movement made the token to be over 95% down from its all-time high. From the video released by Coffeezilla, he revealed a SafeMoon whale who sold off four billion of his SafeMoon tokens which are worth about $2 million. Is this a red flag for the holders of the token? Should investors consider putting some of their bags into SafeMoon?
How Safe is SafeMoon?
The price of the SafeMoon token keeps plunging after every accusation. There was a decrease in the price of the token after Coffeezilla’s allegations against the former Chief Marketing Officer (C.M.O), Ben Phillips, who was accused of causing a pump and dump of the token and made over $12 million profit. What is the fate of the SafeMoon community? Despite Coffeezilla’s claim that the CEO of SafeMoon John Karony had a deal with Bitmart, for the exchange to send the 5% of the SafeMoon token meant for burning to John Karony’s wallet, does the community still have fate in this project for it to get to the moon?
The decentralized finance SafeMoon token at press time is trading on a currency pair of SFM/USDT at a price of $0.0004897 on the Gate.io global top 10 cryptocurrency exchange platform. On this platform, you can buy, sell and trade SafeMoon tokens safely. The SafeMoon token is currently down by 5.04% in the last 24 hours. It has a maximum supply of 1,000,000,000,000,000 of the SafeMoon coins and a circulating supply of 562,241,629,477,145 SafeMoon coins. Gate.io allows blockchain enthusiasts to trade and store assets in more than 1,200 leading cryptocurrencies for more than 10 million users from more than 190 countries.
With the feature of SafeMoon that encourages holders and penalizes sellers, will the community members need more transparency from the SafeMoon leadership or stick to the allegations pointed out by the internet detective, Coffeezilla? Those who sell their SafeMoon tokens are subject to 10% sales tax, with 5% of that charge redistributed to those still holding the token and the other 5% burned.
The SafeMoon community is still not shaken by these allegations and lots of community members see these allegations as FUD. Other community members see it as an opportunity to accumulate more of the token, a good investment opportunity. Is it a good opportunity to accumulate more SafeMoon coins? You can view the token in real-time on the Gate.io trading platform.