SafeMoon first appeared on the scene earlier this year, in the spring of 2021, and quickly grew in popularity. According to Coinbase, the cryptocurrency’s share price increased by 910 percent in only four days in April. SafeMoon looked to be the top dog for a time, but the price has started to even out. With rising interest in cryptocurrency, the number of cryptocurrencies accessible has diversified and expanded. One of these new cryptocurrencies is the HUH Token, which is set to go live on the 6th of December.
SafeMoon debuted in March of this year and has already attracted an astonishing two million users who have invested in their cryptocurrency. SafeMoon’s success came rapidly, and on the 20th of April this year, crypto exchange Binance had to temporarily suspend withdrawals owing to an inflow of SafeMoon investors.
So, where did SafeMoon’s auspicious start go wrong for the cryptocurrency? One of the problems raised by SafeMoon is their 10% charge for ‘Buy and Sell’ transactions. This raised warning flags for numerous crypto investors since charging a 10% charge to acquire and another 10% fee to sell is an uncommon practise in the crypto world and may be highly costly for investors to pay. Other detractors of SafeMoon have questioned the cryptocurrency’s legitimacy and labelled it as a risky investment or scam, those ideas are clearly understood to be unfounded.
So, where did these safety concerns originate? The Financial Conduct Authority (FCA) expressed a number of concerns about this cryptocurrency, including the following: SafeMoon, like many other cryptocurrencies, has very volatile prices, but they were especially drastic. Because of the complexities of the cryptocurrency world, prospective investors may find it difficult to grasp the dangers connected with investing in them. Another was that SafeMoon was initally tough to convert back into fiat currency.
SafeMoon has had obvious success, but cryptocurrency is a constantly evolving game, and investors’ requirements and ambitions are getting more sophisticated. For those who are unfamiliar with HUH Token, it is a new utility and memetic based currency, self-defined as a ‘utimeme’. The token has claimed that their objective is to make the market more accessible and give the potential of making profits from this decentralised finance sector for everyone, not just the wealthy. This is a unique and modern goal, and it will be fascinating to watch how the token performs in the next months.
HUH Token is a cryptocurrency with an efficient referral system that is built into the smart contract. In principle, this referral system has the potential to really spiral, this is because they have a team of thousands of well-established social media influencers who are going to advertise this token on launch. The concept involved with referring is that if you refer someone, you will get 10% of their first purchase of Tokens. If the person you referred goes on to refer someone else, they will then get 10%. This 10% is given in either Binance Coin or Ethereum depending on which exchange the coin is purchased on. There is also an impressive amount of liquidity in this project. A total of $100,000,000 stored in liquidity really gives this new cryptocurrency the chance to take off.
Investors want stability, not volatility, after such a volatile couple of years, and HUH Token provides exactly that in its double stream income. Before they release they are performing a bug bounty on their smart contact and have been audited by Certik, Shellboxes and Solidity Finance.
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