SafeMoon
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Safemoon (SAFEMOON): A meme cryptocurrency with complex tokenomics mechanisms such as accumulation and redistribution of rewards to investors. Safemoon's price increases are often accompanied by community activism and unique marketing strategies
try it with a small amount it might surprise you #SafeMoon $NOT $PEPE
try it with a small amount it might surprise you #SafeMoon $NOT $PEPE
SafeMoon DeFi Platform Hacked: Almost $9 Million Lost In Liquidity Pool
On March 29, 2023, it was reported that SafeMoon, a DeFi platform on the BNB Chain, had been hacked, resulting in an estimated loss of nearly $9 million from the liquidity pool.
The announcement from SafeMoon read, “We want to inform you that our LP has been compromised. We are taking swift action in an attempt to resolve the issue as soon as possible.”
According to on-chain data reported by BscScan, nearly $8.9 million was transferred out of the liquidity pool. Peckshield, a blockchain security company, reported that a recent update to the platform inadvertently created a “burn bug” vulnerability that leaked the admin key, enabling the hack to occur. “The upgrade, with the exploited public burn bug, was initiated by the official SafeMoon: Deployer. (Admin key leak?) And here comes the upgrade tx,” Peckshield tweeted.
@azcoinnews
The hacker allegedly inflated the price of SFM and then returned the tokens to the pool in the same transaction, allowing them to easily withdraw more than $8.9 million worth of WBNB from the contract.
SafeMoon is a DeFi protocol that provides profits for investors through distribution, LP buybacks, and token burning. However, the project has been previously accused of “pump and dump” schemes by high-profile individuals and the development team in February 2022.
This recent hack is just one in a long line of security breaches that have plagued the DeFi space in recent years. It highlights the need for continued efforts to strengthen security measures and prevent such incidents from occurring in the future. The SafeMoon team has not yet provided an update on the status of the situation or the steps being taken to recover the stolen funds, but the community is likely eagerly awaiting news and hoping for a positive outcome.
#SafeMoon #Binance #Defi #hack #azcoinnews
This article was republished from azcoinnews.com
The announcement from SafeMoon read, “We want to inform you that our LP has been compromised. We are taking swift action in an attempt to resolve the issue as soon as possible.”
According to on-chain data reported by BscScan, nearly $8.9 million was transferred out of the liquidity pool. Peckshield, a blockchain security company, reported that a recent update to the platform inadvertently created a “burn bug” vulnerability that leaked the admin key, enabling the hack to occur. “The upgrade, with the exploited public burn bug, was initiated by the official SafeMoon: Deployer. (Admin key leak?) And here comes the upgrade tx,” Peckshield tweeted.
@azcoinnews
The hacker allegedly inflated the price of SFM and then returned the tokens to the pool in the same transaction, allowing them to easily withdraw more than $8.9 million worth of WBNB from the contract.
SafeMoon is a DeFi protocol that provides profits for investors through distribution, LP buybacks, and token burning. However, the project has been previously accused of “pump and dump” schemes by high-profile individuals and the development team in February 2022.
This recent hack is just one in a long line of security breaches that have plagued the DeFi space in recent years. It highlights the need for continued efforts to strengthen security measures and prevent such incidents from occurring in the future. The SafeMoon team has not yet provided an update on the status of the situation or the steps being taken to recover the stolen funds, but the community is likely eagerly awaiting news and hoping for a positive outcome.
#SafeMoon #Binance #Defi #hack #azcoinnews
This article was republished from azcoinnews.com
⛔⛔⛔BIG NEWS ⛔⛔⛔
👉 🇺🇸 US Government Arrests #SafeMoon Founders John Karony, Kyle Nagy & Thomas Smith.
👉 🇺🇸 #SEC Charges SafeMoon crypto token & its executives with fraud. 🔥
⛔Some People Will Think This is Bad or Bearish Thing For Crypto But This is Very goood Act & Decision By US Gov.
It Will Increase More Transparency in Crypto & In Future Many Other Crypto Token Creators Will Avoid Scams & Frauds 💚
What Is Your Opinion About This! Tell me in Comments
👉 🇺🇸 US Government Arrests #SafeMoon Founders John Karony, Kyle Nagy & Thomas Smith.
👉 🇺🇸 #SEC Charges SafeMoon crypto token & its executives with fraud. 🔥
⛔Some People Will Think This is Bad or Bearish Thing For Crypto But This is Very goood Act & Decision By US Gov.
It Will Increase More Transparency in Crypto & In Future Many Other Crypto Token Creators Will Avoid Scams & Frauds 💚
What Is Your Opinion About This! Tell me in Comments
🔥 SafeMoon Executives Charged by SEC for Fraud and Money Laundering, Execs Arrested by DOJ🔥🛑
The Securities and Exchange Commission (SEC) has charged SafeMoon and its executives with "fraud and unregistered offering of crypto securities," #alleging their involvement in a fraudulent operation that caused significant losses to investors.
The SEC statement mentioned that “instead of delivering #profit they wiped out billions in market capitalization, withdrew crypto assets worth more than $200 million from the project, and misappropriated investor funds for personal use.”
At the same time, the U.S. Department of Justice (DOJ) has revealed an indictment against SafeMoon creator Kyle Nagy, CEO John Karony, and CTO Thomas Smith, charging them with conspiracy to commit securities fraud, wire fraud, and money laundering.
Karony was detained in Provo, Utah, and Smith in Bethlehem, New Hampshire. Nagy is still missing.
The defendants are accused of deceiving SafeMoon investors.
While #SafeMoon market value exceeded $8 billion, the DOJ claims that the executives fraudulently diverted and stole millions of dollars in locked liquidity for personal gain, including luxury vehicle purchases, real estate investments and personal expenses.
To conceal their involvement, SafeMoon officials allegedly employed sophisticated transaction routing and pseudonymous centralized exchange accounts.
SafeMoon is a well-known memecoin project in 2021, and gained the attention of investors by sharing 50% of transaction fees to token holders. It reached a peak price of $0.00338 in January 2022.However, the bear market and news of the DOJ indictment and SEC charges has resulted in a decline, with the price now at $0.00019.
Investigations by both the SEC and DOJ into SafeMoon are ongoing, and if the defendants are convicted, they could face a maximum prisonsentence of 25 years.
Disclaimer:Please note this article just for information Anilsingta is not responsible for such Content it was published by CMC News.
FOLLOW FOR MORE ARTICLES THANKS 🙏🏻 NEED YOUR SUPPORT
$ETH
The Securities and Exchange Commission (SEC) has charged SafeMoon and its executives with "fraud and unregistered offering of crypto securities," #alleging their involvement in a fraudulent operation that caused significant losses to investors.
The SEC statement mentioned that “instead of delivering #profit they wiped out billions in market capitalization, withdrew crypto assets worth more than $200 million from the project, and misappropriated investor funds for personal use.”
At the same time, the U.S. Department of Justice (DOJ) has revealed an indictment against SafeMoon creator Kyle Nagy, CEO John Karony, and CTO Thomas Smith, charging them with conspiracy to commit securities fraud, wire fraud, and money laundering.
Karony was detained in Provo, Utah, and Smith in Bethlehem, New Hampshire. Nagy is still missing.
The defendants are accused of deceiving SafeMoon investors.
While #SafeMoon market value exceeded $8 billion, the DOJ claims that the executives fraudulently diverted and stole millions of dollars in locked liquidity for personal gain, including luxury vehicle purchases, real estate investments and personal expenses.
To conceal their involvement, SafeMoon officials allegedly employed sophisticated transaction routing and pseudonymous centralized exchange accounts.
SafeMoon is a well-known memecoin project in 2021, and gained the attention of investors by sharing 50% of transaction fees to token holders. It reached a peak price of $0.00338 in January 2022.However, the bear market and news of the DOJ indictment and SEC charges has resulted in a decline, with the price now at $0.00019.
Investigations by both the SEC and DOJ into SafeMoon are ongoing, and if the defendants are convicted, they could face a maximum prisonsentence of 25 years.
Disclaimer:Please note this article just for information Anilsingta is not responsible for such Content it was published by CMC News.
FOLLOW FOR MORE ARTICLES THANKS 🙏🏻 NEED YOUR SUPPORT
$ETH
#SEC Charges #SafeMoon Team With Fraud, Offering Unregistered #Crypto Securities...
The team withdrew more than $200M to buy luxury cars and homes from funds that they told investors were "locked," according to the regulator.
The U.S. Securities and Exchange Commission (#SEC ) has charged SafeMoon and its executive team with perpetrating a fraudulent scheme through an unregistered securities sale.
The SafeMoon executive team withdrew more than $200 million from the project and misappropriated investors funds for personal use, according to the SEC’s complaint filed on Wednesday.
"Unregistered offerings lack the disclosures and accountability that the law demands, and they attract scammers like Kyle Nagy, who use these vulnerabilities to enrich themselves at the expense of others,” said David Hirsch, Chief of the SEC Enforcement Division’s Crypto Assets and Cyber Unit (CACU), referring to SafeMoon creator Nagy. The agency also accused CEO John Karony and Chief Technology Officer Thomas Smith in the fraud.
SafeMoon was a #meme coin that rolled out during the height of the previous bull market. Its team promised users that staked funds would be "locked" in a liquidity pool, but the SEC said that "large portions of the liquidity pool were never locked" and that executives used funds to buy luxury homes, travel and McClaren cars.
The team withdrew more than $200M to buy luxury cars and homes from funds that they told investors were "locked," according to the regulator.
The U.S. Securities and Exchange Commission (#SEC ) has charged SafeMoon and its executive team with perpetrating a fraudulent scheme through an unregistered securities sale.
The SafeMoon executive team withdrew more than $200 million from the project and misappropriated investors funds for personal use, according to the SEC’s complaint filed on Wednesday.
"Unregistered offerings lack the disclosures and accountability that the law demands, and they attract scammers like Kyle Nagy, who use these vulnerabilities to enrich themselves at the expense of others,” said David Hirsch, Chief of the SEC Enforcement Division’s Crypto Assets and Cyber Unit (CACU), referring to SafeMoon creator Nagy. The agency also accused CEO John Karony and Chief Technology Officer Thomas Smith in the fraud.
SafeMoon was a #meme coin that rolled out during the height of the previous bull market. Its team promised users that staked funds would be "locked" in a liquidity pool, but the SEC said that "large portions of the liquidity pool were never locked" and that executives used funds to buy luxury homes, travel and McClaren cars.
🚨 Crypto Legal Update: Big Cases Ahead! 🚨
👉 The “trial of the century” ended with FTX's Sam Bankman-Fried's sentencing, but more crypto court drama is brewing in the U.S.
👨⚖️ Binance's Changpeng Zhao faces potential jail time at month-end, while his former CEO title and co-founder role remain in legal crosshairs.
👩⚖️ FTX's Gary Wang, Nishad Singh, and Caroline Ellison await sentencing, offering insight into the aftermath of their exchange's massive fraud.
💼 Terraform Labs' Do Kwon faces extradition tussles, while Avi Eisenberg's DeFi exploits land him in a commodities fraud trial.
🌀 Crypto mixer Tornado Cash's devs Roman Storm and Semenov face legal heat for alleged money laundering, while Celsius founder Alex Mashinsky's criminal trial looms.
💰 SafeMoon's CEO and team, KuCoin's founders, and a slew of other crypto firms are in the SEC's crosshairs for various violations.
⚖️ As the legal landscape shifts, stay tuned for updates on these pivotal cases shaping the crypto industry.
Source: Magazine: Inner City Press
#CryptoLegal #Binance #FTX #TerraformLabs #SafeMoon
👉 The “trial of the century” ended with FTX's Sam Bankman-Fried's sentencing, but more crypto court drama is brewing in the U.S.
👨⚖️ Binance's Changpeng Zhao faces potential jail time at month-end, while his former CEO title and co-founder role remain in legal crosshairs.
👩⚖️ FTX's Gary Wang, Nishad Singh, and Caroline Ellison await sentencing, offering insight into the aftermath of their exchange's massive fraud.
💼 Terraform Labs' Do Kwon faces extradition tussles, while Avi Eisenberg's DeFi exploits land him in a commodities fraud trial.
🌀 Crypto mixer Tornado Cash's devs Roman Storm and Semenov face legal heat for alleged money laundering, while Celsius founder Alex Mashinsky's criminal trial looms.
💰 SafeMoon's CEO and team, KuCoin's founders, and a slew of other crypto firms are in the SEC's crosshairs for various violations.
⚖️ As the legal landscape shifts, stay tuned for updates on these pivotal cases shaping the crypto industry.
Source: Magazine: Inner City Press
#CryptoLegal #Binance #FTX #TerraformLabs #SafeMoon
### Top Altcoins Under $0.01 to $0.05 for a $1,000 Portfolio: Recommendations
1. **Dent (DENT)**
Invest $250 in Dent (DENT), currently priced at $0.0013. This purchase will yield approximately 192,308 DENT tokens. Dent aims to establish a global marketplace for mobile data, which has the potential to transform the telecom industry.
2. **VeChain (VET)**
Allocate $300 to VeChain (VET), which is priced at $0.035. This investment will acquire about 8,571 VET tokens. VeChain specializes in supply chain management solutions and boasts partnerships with major corporations, offering considerable growth potential.
3. **BitTorrent (BTTC)**
Dedicate $200 to BitTorrent (BTTC), with a price of $0.00000120 per token. This results in acquiring around 166.67 million BTTC tokens. Integrated with the Tron blockchain, BTTC is essential for decentralized file sharing, making it a valuable portfolio addition.
4. **SafeMoon (SAFEMOON)**
Invest $150 in SafeMoon (SAFEMOON), priced at $0.00012. This will provide approximately 1.25 million SAFEMOON tokens. SafeMoon has gained traction due to its unique tokenomics and robust community support, potentially driving future growth.
5. **Verasity (VRA)**
Allocate $100 to Verasity (VRA), priced at $0.0056 per token. This will yield about 17,857 VRA tokens. Verasity focuses on improving video advertising and esports, which are rapidly growing sectors, offering significant growth potential.
**Disclaimer:**
Conduct thorough research before investing. Use only funds you can afford to lose, and assume full responsibility for your investment decisions.
#Megadrop #VeChain #BTTC # #SafeMoon $VET $DENT $BTTC
1. **Dent (DENT)**
Invest $250 in Dent (DENT), currently priced at $0.0013. This purchase will yield approximately 192,308 DENT tokens. Dent aims to establish a global marketplace for mobile data, which has the potential to transform the telecom industry.
2. **VeChain (VET)**
Allocate $300 to VeChain (VET), which is priced at $0.035. This investment will acquire about 8,571 VET tokens. VeChain specializes in supply chain management solutions and boasts partnerships with major corporations, offering considerable growth potential.
3. **BitTorrent (BTTC)**
Dedicate $200 to BitTorrent (BTTC), with a price of $0.00000120 per token. This results in acquiring around 166.67 million BTTC tokens. Integrated with the Tron blockchain, BTTC is essential for decentralized file sharing, making it a valuable portfolio addition.
4. **SafeMoon (SAFEMOON)**
Invest $150 in SafeMoon (SAFEMOON), priced at $0.00012. This will provide approximately 1.25 million SAFEMOON tokens. SafeMoon has gained traction due to its unique tokenomics and robust community support, potentially driving future growth.
5. **Verasity (VRA)**
Allocate $100 to Verasity (VRA), priced at $0.0056 per token. This will yield about 17,857 VRA tokens. Verasity focuses on improving video advertising and esports, which are rapidly growing sectors, offering significant growth potential.
**Disclaimer:**
Conduct thorough research before investing. Use only funds you can afford to lose, and assume full responsibility for your investment decisions.
#Megadrop #VeChain #BTTC # #SafeMoon $VET $DENT $BTTC
The Crazy Ride of Memecoins in Crypto 🎢
What are Memecoins?
🔸 Definition: Memecoins are cryptocurrencies inspired by memes, jokes, or internet culture.
🔸 Origins: They typically start with no intrinsic value or utility.
🔸 Popularity: Often gain traction through viral moments and strong community backing.
🔸 Purpose: Initially for fun, but some have evolved into serious investments.
The OG Memecoin: #Dogecoin 🐶
🔸 Creation: Launched in 2013 as a joke, inspired by the "Doge" meme.
🔸 Community: Developed a large and loyal following over the years.
🔸 Influence: Boosted by social media and endorsements, particularly from Elon Musk.
🔸 2021 Boom: Gained mainstream attention and became a household name.
#ShibaInu : The "Dogecoin Killer" 🦊
🔸 Launch: Introduced in 2020 with ambitions to rival Dogecoin.
🔸 Supply: Features over 1 quadrillion tokens, which attracted a broad community, the #SHIBArmy.
🔸 Ecosystem: Led to the development of ShibaSwap, a decentralized exchange.
🔸 Market Impact: Quickly became one of the most talked-about memecoins.
#PepeCoin : The Frog with Attitude 🐸
🔸 Inspiration: Based on the "Pepe the Frog" meme.
🔸 Community: Less mainstream than $DOGE or SHIB but popular among meme enthusiasts.
🔸 Tokenization: Demonstrates that almost any meme can be turned into a cryptocurrency.
🔸 Niche Appeal: Found its place within a dedicated group of meme lovers in the crypto space.
#SafeMoon : The Meme That Went to the Moon 🌕
🔸 Nature: Combines memecoin elements with unique tokenomics, including rewards for holders and penalties for sellers.
🔸 Popularity: Became a viral sensation in 2021, though its meme status is debated.
🔸 Volatility: Its rapid rise and subsequent fall highlight the risky nature of memecoins.
🔸 Legacy: A symbol of the speculative frenzy that can drive memecoin prices.
The Risk Factor in Memecoins ⚠️
🔸 Speculative Nature: Memecoins are highly speculative investments.
🔸 Volatility: Driven by hype rather than intrinsic value, making them prone to extreme price swings.
🔸 Lack of Utility: Often have little to no real-world use case.
🔸 Caution: Only invest what you can afford to lose, and always do thorough research.
What's Next for Memecoins? 🚀
🔸 Future Trends: New memecoins may emerge and capture the market's attention.
🔸 Potential Bubble: The current memecoin trend could burst, or new opportunities could arise.
🔸 Market Dynamics: Memecoins show that with the right mix of culture, community, and luck, even a joke can be profitable.
🔸 Uncertainty: In the ever-changing world of crypto, anything is possible.
Conclusion: The Meme Revolution
🔸 Impact: Memecoins like $DOGE , $SHIB , $PEPE, and $FLOKI have reshaped the crypto landscape.
🔸 Power of Community: These coins demonstrate the influence of humor and community in driving growth.
🔸 Investment Responsibility: With the potential for great gains comes the responsibility to invest wisely.
🔸 Final Thought: Memecoins are fun, but they require careful consideration and risk management.
🔸 Definition: Memecoins are cryptocurrencies inspired by memes, jokes, or internet culture.
🔸 Origins: They typically start with no intrinsic value or utility.
🔸 Popularity: Often gain traction through viral moments and strong community backing.
🔸 Purpose: Initially for fun, but some have evolved into serious investments.
The OG Memecoin: #Dogecoin 🐶
🔸 Creation: Launched in 2013 as a joke, inspired by the "Doge" meme.
🔸 Community: Developed a large and loyal following over the years.
🔸 Influence: Boosted by social media and endorsements, particularly from Elon Musk.
🔸 2021 Boom: Gained mainstream attention and became a household name.
#ShibaInu : The "Dogecoin Killer" 🦊
🔸 Launch: Introduced in 2020 with ambitions to rival Dogecoin.
🔸 Supply: Features over 1 quadrillion tokens, which attracted a broad community, the #SHIBArmy.
🔸 Ecosystem: Led to the development of ShibaSwap, a decentralized exchange.
🔸 Market Impact: Quickly became one of the most talked-about memecoins.
#PepeCoin : The Frog with Attitude 🐸
🔸 Inspiration: Based on the "Pepe the Frog" meme.
🔸 Community: Less mainstream than $DOGE or SHIB but popular among meme enthusiasts.
🔸 Tokenization: Demonstrates that almost any meme can be turned into a cryptocurrency.
🔸 Niche Appeal: Found its place within a dedicated group of meme lovers in the crypto space.
#SafeMoon : The Meme That Went to the Moon 🌕
🔸 Nature: Combines memecoin elements with unique tokenomics, including rewards for holders and penalties for sellers.
🔸 Popularity: Became a viral sensation in 2021, though its meme status is debated.
🔸 Volatility: Its rapid rise and subsequent fall highlight the risky nature of memecoins.
🔸 Legacy: A symbol of the speculative frenzy that can drive memecoin prices.
The Risk Factor in Memecoins ⚠️
🔸 Speculative Nature: Memecoins are highly speculative investments.
🔸 Volatility: Driven by hype rather than intrinsic value, making them prone to extreme price swings.
🔸 Lack of Utility: Often have little to no real-world use case.
🔸 Caution: Only invest what you can afford to lose, and always do thorough research.
What's Next for Memecoins? 🚀
🔸 Future Trends: New memecoins may emerge and capture the market's attention.
🔸 Potential Bubble: The current memecoin trend could burst, or new opportunities could arise.
🔸 Market Dynamics: Memecoins show that with the right mix of culture, community, and luck, even a joke can be profitable.
🔸 Uncertainty: In the ever-changing world of crypto, anything is possible.
Conclusion: The Meme Revolution
🔸 Impact: Memecoins like $DOGE , $SHIB , $PEPE, and $FLOKI have reshaped the crypto landscape.
🔸 Power of Community: These coins demonstrate the influence of humor and community in driving growth.
🔸 Investment Responsibility: With the potential for great gains comes the responsibility to invest wisely.
🔸 Final Thought: Memecoins are fun, but they require careful consideration and risk management.
BREAKING NEWS:
#Scam Project #SafeMoon Files for Chapter 7 Bankruptcy
Safemoon Did 58300x ( 5830197% ) within 70 days After Launch.
And Now Almost 99.97% Down From Its All Time High.
Brace yourselves!
As the bull run heats up, more questionable coins like SafeMoon are set to disappear.
Expect increased volatility and more dumps ahead.
#Ledger #CryptoPatel #fomc
$SOL $SHIB $1000SATS
#Scam Project #SafeMoon Files for Chapter 7 Bankruptcy
Safemoon Did 58300x ( 5830197% ) within 70 days After Launch.
And Now Almost 99.97% Down From Its All Time High.
Brace yourselves!
As the bull run heats up, more questionable coins like SafeMoon are set to disappear.
Expect increased volatility and more dumps ahead.
#Ledger #CryptoPatel #fomc
$SOL $SHIB $1000SATS
Is it best time to invest in $SafeMoon ? 💰 🔸
#SafeMoon
A message from the SafeMoon US LLC Chapter 7 Trustee:
ORDER REFERRING CONTESTED MATTER FOR MEDIATION
It seems like it’s temporary dump and also the market cap is low near to the liquidity ✅
Current price of safemoon is $0.000026 🔑
Yes we are investing with our all prime members but remarks always maintain risk management.
Dyor NFA
I will share completely details with price members soon. 🤓
#SafeMoon
A message from the SafeMoon US LLC Chapter 7 Trustee:
ORDER REFERRING CONTESTED MATTER FOR MEDIATION
It seems like it’s temporary dump and also the market cap is low near to the liquidity ✅
Current price of safemoon is $0.000026 🔑
Yes we are investing with our all prime members but remarks always maintain risk management.
Dyor NFA
I will share completely details with price members soon. 🤓
Top BNB Meme Coins to Buy in 2024
Key Insights
The memecoin market has boomed over the years on chains like Ethereum, Solana, and Binance’s Smart Chain.Memecoins on Binance’s Smart Chain and Solana typically benefit from their high throughput and low fees.The best memecoins to consider on Binance’s smart chain include Floki, SafeMoon, Baby Doge Coin, and Bonk.All of these were chosen based on deflationary aspects, track record, and potential to rally.
Memecoins have made a name for themselves, especially in the crypto space.
Ethereum used to be the most popular platform for hosting these special kinds of cryptocurrencies.
However considering the network’s issues with scalability and high transaction fees, memecoin deployers are migrating to Solana and Binance’s smart chain.
As 2024 matures and the next phase of the bull run inches closer, several BNB memecoins are gaining traction.
Here are some of the most attention-grabbing meme coins on Binance’s Smart Chain to consider this year.
BabyDoge Coin
This memecoin emerged from the success of the popular Doge community. It was launched in June 2021 and even has a real-world use case, unlike most other similar coins.
$BABYDOGE is focused on promoting animal adoption and welfare while building on Dogecoin’s legacy.
BabyDoge’s homepage
Source: BabyDoge
The memecoin’s development team has even donated over $1.5 million in cash and crypto to animal shelters.
BabyDoge Coin’s community is also tagged as one of the strongest in the space, with an estimated 1.3 million token holders.
Community members are also around 200,000 on Telegram, more than 800,000 on Twitter, and 245,000 on Instagram.
Utility on Baby Doge
Source: BabyDoge
Unlike Dogecoin its predecessor, BabyDoge is deflationary.
This means that it burns a certain percentage of transaction fees it collects in an effort to increase scarcity and improve price.
Each BabyDoge transaction incurs a 10% fee where 5% is redistributed to all holders and 5% is added to the liquidity pool on PancakeSwap.
All of the above help it to be a true leader in both the memecoin space and on Binance’s smart chain/Ethereum.
SafeMoon
Like BabyDoge, SafeMoon made its debut in 2021 around March. However, it was reacquired by the VGX foundation after certain liquidity issues shortly after launch.
Homepage on Safemoon
Source: Safemoon
The core aim of this memecoin is to create an ecosystem that encourages HODLing in the long term.
SafeMoon was created specifically as a solution to some of the common issues in the DeFi space.
Some of these include high volatility and a lack of incentives for holding tokens.
It employs several methods like Reflection (also known as static rewards) which redistributes a portion of each transaction fee to all existing holders.
This means that simply holding the memecoin can earn you more tokens.
The memecoin also employs Liquidity Pool Acquisition where another portion of each transaction fee is automatically added to the liquidity pool on PancakeSwap. Doing this ensures stability in price and liquidity for trading.
Mission statement from Safemoon
Source: Safemoon
Safemoon is also deflationary and engages in regular token burning. It also has a strong and active community with over 2.9 million holders. The project further has a strong presence on platforms like Twitter, Reddit and Telegram.
Floki Inu
Like BabyDoge which earned some of its success from Dogecoin, Floki was also inspired by Shiba Inu.
The memecoin was launched in June 2021 after a tweet from Elon Musk about naming his Shiba Inu dog "Floki".
Just like the origin of most other memecoins, what was initially a joke soon became reality.
Floki Inu operates on both the Ethereum (ERC-20) and Binance Smart Chain (BEP-20) networks.
This means that it is a multi-chain token. This dual-chain nature also makes it a lot more flexible than the average memecoin.
The Floki homepage
Source: Floki Inu
Similar to some of the others, Floki requires a 3% tax on transactions. Said tax is then directed to the Floki Inu treasury which is used to fund further development.
Floki is also deflationary and periodically burns a certain part of its supply.
The Floki Inu community is known as the “Floki Vikings”.
Since its launch, Floki has garnered over 400,000 holders and a robust presence on social media platforms.
All of these combined have been the reason for its success over the years.
Ecosysystem of Dapps
Source: Floki Inu
The platform features several sub-Dapps including its collection of defi services called FlokiFi.
Another is FlokiPlaces—an NFT and merchandise marketplace.
The University of Floki is also an educational platform designed to provide resources about crypto.
Finally, Valhalla is an NFT gaming metaverse where players can earn rewards by battling and trading assets.
Bonk
This one was originally a Solana-based memecoin. However, it has now spread towards Ethereum, Binance’s Smart Chain, and many more chains.
It was launched on Christmas Day 2022, especially after the collapse of FTX only a month earlier in November.
The main homepage
Source: BONK
The project was started by 22 Solana developers who wanted to create a community-driven token that could both empower and engage users.
Interestingly, Bonk’s mascot is a Shiba Inu dog. This means that it was likely inspired by other popular memecoins like Dogecoin and Shiba Inu.
Like many other strong memecoin projects, BONK periodically burns its own supply.
It even did this in January 2023 when its lead developers burned a whopping 5 trillion $BONK.
Quick facts on Bonk
Source: BONK
In December 2023, the token saw a massive surge with its market cap reaching over $1 billion.
It is now the sixth largest memecoin on the market and among the top 100 by market cap.
#Memecoin #investment #FlokiInu #Bonk #SafeMoon
The memecoin market has boomed over the years on chains like Ethereum, Solana, and Binance’s Smart Chain.Memecoins on Binance’s Smart Chain and Solana typically benefit from their high throughput and low fees.The best memecoins to consider on Binance’s smart chain include Floki, SafeMoon, Baby Doge Coin, and Bonk.All of these were chosen based on deflationary aspects, track record, and potential to rally.
Memecoins have made a name for themselves, especially in the crypto space.
Ethereum used to be the most popular platform for hosting these special kinds of cryptocurrencies.
However considering the network’s issues with scalability and high transaction fees, memecoin deployers are migrating to Solana and Binance’s smart chain.
As 2024 matures and the next phase of the bull run inches closer, several BNB memecoins are gaining traction.
Here are some of the most attention-grabbing meme coins on Binance’s Smart Chain to consider this year.
BabyDoge Coin
This memecoin emerged from the success of the popular Doge community. It was launched in June 2021 and even has a real-world use case, unlike most other similar coins.
$BABYDOGE is focused on promoting animal adoption and welfare while building on Dogecoin’s legacy.
BabyDoge’s homepage
Source: BabyDoge
The memecoin’s development team has even donated over $1.5 million in cash and crypto to animal shelters.
BabyDoge Coin’s community is also tagged as one of the strongest in the space, with an estimated 1.3 million token holders.
Community members are also around 200,000 on Telegram, more than 800,000 on Twitter, and 245,000 on Instagram.
Utility on Baby Doge
Source: BabyDoge
Unlike Dogecoin its predecessor, BabyDoge is deflationary.
This means that it burns a certain percentage of transaction fees it collects in an effort to increase scarcity and improve price.
Each BabyDoge transaction incurs a 10% fee where 5% is redistributed to all holders and 5% is added to the liquidity pool on PancakeSwap.
All of the above help it to be a true leader in both the memecoin space and on Binance’s smart chain/Ethereum.
SafeMoon
Like BabyDoge, SafeMoon made its debut in 2021 around March. However, it was reacquired by the VGX foundation after certain liquidity issues shortly after launch.
Homepage on Safemoon
Source: Safemoon
The core aim of this memecoin is to create an ecosystem that encourages HODLing in the long term.
SafeMoon was created specifically as a solution to some of the common issues in the DeFi space.
Some of these include high volatility and a lack of incentives for holding tokens.
It employs several methods like Reflection (also known as static rewards) which redistributes a portion of each transaction fee to all existing holders.
This means that simply holding the memecoin can earn you more tokens.
The memecoin also employs Liquidity Pool Acquisition where another portion of each transaction fee is automatically added to the liquidity pool on PancakeSwap. Doing this ensures stability in price and liquidity for trading.
Mission statement from Safemoon
Source: Safemoon
Safemoon is also deflationary and engages in regular token burning. It also has a strong and active community with over 2.9 million holders. The project further has a strong presence on platforms like Twitter, Reddit and Telegram.
Floki Inu
Like BabyDoge which earned some of its success from Dogecoin, Floki was also inspired by Shiba Inu.
The memecoin was launched in June 2021 after a tweet from Elon Musk about naming his Shiba Inu dog "Floki".
Just like the origin of most other memecoins, what was initially a joke soon became reality.
Floki Inu operates on both the Ethereum (ERC-20) and Binance Smart Chain (BEP-20) networks.
This means that it is a multi-chain token. This dual-chain nature also makes it a lot more flexible than the average memecoin.
The Floki homepage
Source: Floki Inu
Similar to some of the others, Floki requires a 3% tax on transactions. Said tax is then directed to the Floki Inu treasury which is used to fund further development.
Floki is also deflationary and periodically burns a certain part of its supply.
The Floki Inu community is known as the “Floki Vikings”.
Since its launch, Floki has garnered over 400,000 holders and a robust presence on social media platforms.
All of these combined have been the reason for its success over the years.
Ecosysystem of Dapps
Source: Floki Inu
The platform features several sub-Dapps including its collection of defi services called FlokiFi.
Another is FlokiPlaces—an NFT and merchandise marketplace.
The University of Floki is also an educational platform designed to provide resources about crypto.
Finally, Valhalla is an NFT gaming metaverse where players can earn rewards by battling and trading assets.
Bonk
This one was originally a Solana-based memecoin. However, it has now spread towards Ethereum, Binance’s Smart Chain, and many more chains.
It was launched on Christmas Day 2022, especially after the collapse of FTX only a month earlier in November.
The main homepage
Source: BONK
The project was started by 22 Solana developers who wanted to create a community-driven token that could both empower and engage users.
Interestingly, Bonk’s mascot is a Shiba Inu dog. This means that it was likely inspired by other popular memecoins like Dogecoin and Shiba Inu.
Like many other strong memecoin projects, BONK periodically burns its own supply.
It even did this in January 2023 when its lead developers burned a whopping 5 trillion $BONK.
Quick facts on Bonk
Source: BONK
In December 2023, the token saw a massive surge with its market cap reaching over $1 billion.
It is now the sixth largest memecoin on the market and among the top 100 by market cap.
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