DogeCoin has seen a big boom in its popularity following a few favorable tweets by Elon Musk about it over the last few months. Tesla CEO has surprised everyone with his actions by supporting DogeCoin on his Twitter handle.
After the quick spike in the market value of DogeCoin, another new cryptocurrency SafeMoon has landed in the cryptocurrency world. It was on March 8 when SafeMoon made its entry and it has shown some consistent positive growth since then.
But no big name has said anything about SafeMoon and people expect Elon Musk to do so in the future. Will SafeMoon gain the attention of the Tesla CEO? Elon Musk is supportive of the use of cryptocurrencies for transactions.
It is evident from his recent decision to allow the use of Bitcoin for buying a Tesla car. DogeCoin was started just as a meme and it is the Musk effect that has turned it into a cryptocurrency. SafeMoon’s current CoinMarketCap ranking stands at 2369 whereas DogeCoin enjoys the 17th rank on CoinMarketCap.
But the positive and consistent growth of SafeMoon is likely to raise its popularity more than that of Dogecoin because Safemoon has a cap and burns tokens every time someone sells tokens 10% gets burned; 5% permanently burned and 5% to existing holders. . And we could expect Elon Musk tweeting in favor of DogeCoin for carrying out cryptocurrency transactions.
If Elon Musk were to ask about SafeMoon then he might have said something positive about it. Over the past three weeks, SafeMoon has shown more growth than Dogecoin and it reflects a bright future ahead for this new cryptocurrency.