The cryptocurrency world has seen the entry of many crypto currencies and it has boomed its popularity among ordinary as well as extraordinary people. SafeMoon and Dogecoin are the two new additions to the cryptocurrency market.
SafeMoon was officially launched this month on March 8 and it is a new project. On the other hand, Dogecoin was introduced in 2013 as a meme. SafeMoon was introduced just after taking inspiration from Dogecoin which has come into the news after a few favorable tweets from the Tesla CEO, Elon Musk.
Elon Musk’s tweets resulted in a hike in the value of Dogecoin in the market and the cryptocurrency gained the attention of major media outlets. Elon Musk tweeted, “Dogecoin is the people’s crypto”.
He also tweeted phrases, “Going on the moon” and “on the actual moon”, which sparked a jump in the currency’s assets by 25 percent. Following this, its trading value saw a hike of 23.11 percent to $0.0581 in a limited time.
The introduction of SafeMoon following the skyrocketing growth of Dogecoin has raised a major question – Is SafeMoon better than Dogecoin? Well, Safemoon has progressed more than Dogecoin in the past few weeks so it is expected to surpass Dogecoin in the near future.
Both cryptocurrencies are listed on CoinMarketCap and they both have seen some growth. Dogecoin has seen a steep increment which is mainly influenced by Elon Musk’s tweets. If Elon Musk were to ask on this subject then he might have favored Safemoon because of the constant growth of this new cryptocurrency.
Since Elon Musk is known for offering his support to cryptocurrencies, he could be seen tweeting in favor of SafeMoon in the future. It is because SafeMoon has shown a better performance than Dogecoin in a very limited time. It is something that makes it more promising than DogeCoin for cryptocurrency investment.