Why Is Safemoon Shooting Up Today?

SafeMoon (CRYPTO: SAFEMOON) shot up 16.43% over 24 hours to $0.000002363 at press time defying the downwards pressures seen in major cryptocurrencies as the global cryptocurrency market cap plunged 3.21% to $2.02 trillion.

What’s Moving? SAFEMOON was up 47.07% over a seven-day trailing period.

Against major cryptocurrencies Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH), SAFEMOON rose 20.38% and 20.04% respectively. 

The self-described decentralized finance or DeFi token touched an all-time high of $0.00001399 four months ago. SAFEMOON has dropped 83.11% since those levels.

See Also: How To Buy SafeMoon (SAFEMOON)

Why Is It Moving? SafeMoon trended this week after the project said the release of its highly-anticipated wallet would take place in days.

At press time, the high social media interest remained intact as SAFEMOON topped the list of top 10 trending streams put together by Stocktwits. 

The hashtag “SAFEMOONWALLET” was also featured on an electronic billboard in London’s Picadilly Circus. 

On Wednesday, SafeMoon CEO John Karony suggested a meetup at the billboard.

According to SafeMoon’s Twitter handle, there are three days left for the release of the wallet, which can also be used to store Dogecoin (CRYPTO: DOGE). 

Read Next: ‘Dogecoin Mining’ Scam In Turkey Costs 1,500 People $119M As Alleged Perpetrator Vanishes Into Thin Air

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