The SafeMoon [SFM] network has been making multiple efforts to stay on top of its game. With consistent updates and listings on SafeMoon Swap, the network was visibly growing. However, the SFM community garnered immense backlash following the stagnant and depreciating price of the altcoin.
This has even caused a major divide in the market. While some believe that SFM is as good as dead, a few others pointed out that the entire market has been down. SafeMoon Warrior took to Twitter and pointed out that the price action of SFM and the OG meme crypto, Dogecoin [DOGE] were very similar over the last couple of months.
The BitMart hack shook the entire crypto market. The crypto exchange was exploited for a whopping $200 million with the SafeMoon token enduring the most damage.
Despite this, SafeMoon seemed to be at par with Dogecoin in terms of price change. Additionally, the above chart even shed light on how SFM was slowly trying to take over DOGE.
Dogecoin has been in the crypto market since 2013. Even though the meme coin is one of the earliest crypto assets in the market and has managed to garner the support of Tesla’s CEO Elon Musk, it has never once reached $1. It should also be noted that there’s a massive disparity between the market cap and the price of Dogecoin and SFM. However, as can be seen from the chart above, the price movements are extremely similar.
In the meantime, relatively new asset SFM V2 was down by a whopping 15.22 percent since the last 24-hours. During press time, the token was trading for $0.0009215.
Dogecoin emerges as one of the most bought asset by BSC whales
The BSC whales seemed to be loving meme coins a little too much. The top 100 biggest BSC whales not only poured their money into Dogecoin but also employed its smart contract. WhaleStats reported this movement and alerted the community about the same.
With no major price change over the last 24-hours, Dogecoin was trading for $0.1147, at press time.