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If you are an active member of the cryptocurrency community, you will likely have noticed a popular topic in the last 24 hours. SafeMoon (SAFEMOON) – an up-and-coming altcoin project – is set to surge in value thanks to Reddit investors.

This article explains why this is happening, whether you should buy SafeMoon now, and what the future could hold for the project. To kick things off, scroll down to find out the best places to buy SafeMoon crypto online.

If you are looking for the best platforms to buy, sell and trade SAFEMOON in the UK and elsewhere, look no further than the two options below. These platforms have been chosen by our team of analysts because of their low fees, strong user interfaces and reliable customer support.

eToro is a multi-asset investment platform with more than 2000 assets, including stocks, ETF’s, indices, commodities and Cryptoassets. eToro offers over 14 Cryptoassets to invest or invest in their CryptoPortfolio where investors can benefit from the accumulated growth of Bitcoin, Ethereum, XRP, Litecoin and other leading cryptocurrencies. eToro users can connect with, learn from, and copy or get copied by other users.

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Safemoon Trader is a trading software offering users a wide range of cryptocurrency coins including SAFEMOON, DOGE and Bitcoin.

Register with Safemoon Trader instantly

Founded in the United States in March, 2021, It is a decentralised cryptocurrency that runs on the Binance Smart Chain. Unlike other cryptocurrencies, SafeMoon rewards tokenholders who hold onto tokens and taxes those who sell them with a 10% fee, 5% of which is returned to tokenholders.

The coin quickly gained momentum after its release and now cryptocurrency investors are targeting it for a price squeeze.

It is a community movement led by the Reddit forum SatoshiStreetBets, the cryptocurrency version of the infamous WallStreetBets. The aim is to ‘take all of the power from the banks and transfer it to the people’ by creating a ‘massive sustained upward pressure’ on the price of SAFEMOON coin courtesy of ‘volume induced token burn.’

Unlike a short squeeze, as seen with both AMC Entertainment and GameStop, this squeeze is not intended to catch out the large short positions held by major financial institutions. Instead, the only thing this movement seeks to expose is the alleged slander and ridicule of the SafeMoon development team, who SatoshiStreetBets claim has been ‘undeservingly’ targeted.

What do you think about the #SafemoonSqueeze?https://t.co/oQb66sslXm

The #safemoonsqueeze has begun pic.twitter.com/TgPKLjQsPI

If you buy into the fundamental value of the cryptocurrency, or if you believe that the Reddit campaign will generate positive market sentiment and, therefore, price accretion, now could be a good time to buy SafeMoon.

However, make sure you are comfortable with the risks. SAFEMOON is an early-stage altcoin and volatility is inevitable, so never invest money you can’t afford to completely lose and don’t be afraid to avoid investing if you are slightly averse to risk.

We are always keen to avoid giving price predictions for altcoins because they are usually unreliable. This is because of the sheer number of variables and the large amount of unknowns that make it almost impossible to calculate fundamental value.

However, we do feel bullish about SafeMoon; at least in the short term.

Plenty of investors have been reacting to the SafeMoon squeeze movement on social media in recent hours, many of them using the hashtag, #safemoonsqueeze.

I can get behind the #safemoonsqueeze pic.twitter.com/uWzFIu9vwW

Let's get #safemoonsqueeze trending!
If you hold #safemoon and you see this you HAVE retweet and comment #safemoonsqueeze 🚀🌕
let's blow the cap off this popsicle stand!!!!!!!!!!!!!!!!!!!!! pic.twitter.com/eeHhHFWMYM

If every person who holds #safemoon just tweets #safemoonsqueeze one time we would be trending for sure on a global scale!!! just tweet #safemoonsqueeze

#SafeMoonSqueeze Road to $5 baby pic.twitter.com/biCu7Ovidg

If we all do this right we can all quit our jobs tomorrow 💪🏻💪🏻🚀🚀🚀🚀#SafemoonSqueeze

Check out the crypto news for the latest on the SafeMoon squeeze and other developing stories in the world of cryptocurrency.

The post The ‘SafeMoon squeeze’ begins: here’s what it is and where to buy it appeared first on Invezz.

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