SafeMoon and Dogecoin have sustained their respective rallies not too long ago, with each currencies having fun with exponential worth will increase. Each tokens emerged from the relative unknown this 12 months and have rapidly exploded in worth. However regardless of their distinctive efficiency, consultants imagine the cash will not retain worth in the long run.
Presently, SafeMoon is the much less useful of the 2 surging cryptocurrencies.
The token’s worth sits at $0.00000874 (£0.0000062), with 24-hour will increase of two.69 %.
During the last two months, it has risen from $0.0000000312, with preliminary sharp will increase of 910 %.
Regardless of its worth, Adam Morris, co-founder of Crypto Head, a cryptocurrency information website, mentioned SafeMoon, specifically, “does not provide a lot”.
READ MORE: Can you buy SafeMoon on Coinbase? How to buy SafeMoon
Regardless, Mr Morris believes it should go the identical route as SafeMoon and is in the end a “part”.
He mentioned: “SafeMoon has numerous similarities with Dogecoin, nevertheless it’s much more dangerous as a result of it does not have the historical past that Dogecoin does.
“At this level, plainly SafeMoon, Dogecoin and different altcoins which have appeared out of nowhere are possible a part much like GME.
“We’d not see an enormous correction although till the following main market correction.”
“Lengthy-term traders must be taking a look at issues like Ethereum as a result of they supply nice infrastructure within the trade and truly deserve the worth they’ve.”
Ethereum is at present one of the useful cryptocurrencies available on the market.
The coin is value $3,986.99 (£2,827.63), and its worth is rising each day.
During the last day, it has gained 7.90 % and received to its present place from lower than $200 (£141.84) this time final 12 months.