As Bitcoin Drops, SafeMoon & Hype-Coins Move to the Basement Bargain Bin
As I noted 3 months ago, if you invested $100 at the launch of SafeMoon you would be a millionaire. Even today, at 70% below its high mark — you might still be a millionaire.
However, that type of potential life-changing wealth is becoming less a reality and more of a question mark. At the start of this massive retail surge in cryptocurrency, if you bought early it meant a 10x or 100x or 1000x return within a few days. Now you can buy into many of these coins and catch right up with the early birds.
The price has flatlined.
Becoming a “billionaire” SafeMoon token holder required a $10K investment just a month ago. Now you can join that club by plopping down $3K easily (at the time of this writing). The exclusive status of having the foresight to invest in a 100x alt-coin has now given way to basement bargain bin!
In truth, there’s nothing much for SafeMoon hodlers to do but wait. I include myself in those numbers. So much time and effort and wealth has gone into some of these hype-coins that only faith will get you over painful downwards slopes side by side with Bitcoin.
Bottom line: the longer the sub 1-cent / quadrillion coin meme tokens spend in the sideways position the smaller the chances of ultimate long-term wealth success.
As we noted in April — a good gut-check on a coin is to gauge the number of potential millionaires and billionaires it will create down the road, presuming it grows at all. A month ago only 25K of the 2.5 million SafeMoon holders owned a billion tokens. With the price flatlined for weeks now that number has likely grown by 3 or 4 times. The universe is not about to reward 100,000 people with millionaire status via SafeMoon any time soon.
So HODL or sell and buy the dip of Bitcoin!