Cryptocurrencies are slowly gaining popularity in the digital world as they are being used in digital transactions across the globe. Many new cryptocurrencies are being introduced in the cryptocurrency market. Two names in this context are SafeMoon and Dogecoin.
Tesla CEO Elon Musk has been offering his support to Dogecoin for the past few months and it made this cryptocurrency witness a boom in its popularity. He tweeted for Dogecoin which was first introduced in 2013 just as a meme.
Some of his tweets for Dogecoin are “Dogecoin to the Moon” and “Dogecoin is the people’s crypto” etc. Elon Musk’s tweets simply uplifted the market value of Dogecoin in a quick manner. Soon after its popularity, a new cryptocurrency “SafeMoon” came into effect.
Following this, many people are now eager to know the answer to the question – “Will Elon Musk Support Safemoon just like he is supporting DogeCoin? March 8 was the first time when Safemoon came into existence and it has started getting a constant increase in its value.
Whereas DogeCoin had seen a steep increase in its trading value in the market. Since both SafeMoon and DogeCoin are present on CoinMarketCap, everyone is interested in knowing which cryptocurrency Elon Musk would favor in the future.
I think Elon Musk will offer his support to SafeMoon in the near future. The major reason for it is the constant growth of SafeMoon over the last 3 weeks and that Safemoon has a cap and burns tokens every time someone sells tokens 10% gets burned; 5% permanently burned and 5% to existing holders. The new cryptocurrency has fared better than DogeCoin in the crypto trading world.
Elon Musk has now announced the acceptance of Bitcoin for buying a Tesla car as a part of his company’s investment policy. As far as the current behavior of the Tesla CEO is concerned, he seems to be offering his support for SafeMoon over DogeCoin in the coming time.