SafeMoon cryptocurrency is sailing in dangerous waters, as its price is dipping terrifyingly in a never-ending abyss and is down close to 92% from its all time high (ATH) of $0.00001094 on May 11, 2021.
While all the other coins in the market are knocking out a zero from their trade, SafeMoon seems to be adding zeroes along the way as the dips unfortunately have no end in sight.
Adding to the burden of its insane price dips, a mysterious and unidentified whale dumped a staggering 2.1 trillion SafeMoon coins yesterday and jumped ship making its price plunge -9.48% in the day's trade. SafeMoon's price since more than a month is going everywhere except to the moon.
However, there's no data available if the whale sold 2.1 trillion coins in profit or loss, but considering SafeMoon's insane price dips, the whale needs to be lucky to even sell the large bag in profits. If the whale was an early investor, only then could there be profits.
SafeMoon has been mired in controversies since its inception in March 2021 and the latest to the list was the SafeMoon Wallet fiasco, where the developers promoted the wallet for weeks both online and offline, including putting up expensive billboards across the UK and US and 30 minutes before the launch, CEO John Karony tweeted that the wallet would be delayed due to ''technical issues''.
However, after facing severe criticism from the investors community for failing to deliver on their promises, SafeMoon released their much awaited wallet two weeks later on September 14, 2021 but at the cost of its COO Jack Haines and senior software engineer Hank Wyatt's resignation.
SafeMoon Wallet is only up and running on Android phones and the iPhone version is yet to be out. SafeMoon's official Twitter handle stated that the developers have submitted the app for review to Apple and are waiting for an approval by them.
Also, SafeMoon's CBO Thomas Smith 'Papa' would appear on David Gokhshtein's Unfiltered show sometime in October and Gokhshtein spoke exclusively to The International Business Times stating that the audience can expect him to be asking ''real questions.''
"I'll be asking him questions about everything related to SafeMoon. What we can expect moving forward, what's been happening. Expect me to ask real questions,'' said David Gokhshtein.
SafeMoon, at the time of publishing, was trading at $0.00000124 and is down -0.4% in the days trade.