SafeMoon Prize: Altcoins ‘only one phase’ despite the DOGE and SafeMoon rally | City & Economy | Finances

SafeMoon and Dogecoin continue to climb high on the charts after months of unprecedented meteorite growth, pushing them hundreds to a thousand times their base value last year. Both tokens emerged from the relatively unknown this year and quickly gained in value. Despite their unique performance, experts believe the coins will retain no value in the long run.

SafeMoon is currently the less valuable of the two growing cryptocurrencies.

The value of the token is $ 0.00000874 (£ 0.0000062), with a 24-hour increase of 2.69 percent.

Over the past two months it has increased from $ 0.0000000312, starting off with a sharp 910 percent increase.

Despite its worth, Adam Morris, co-founder of Crypto Head, a cryptocurrency guide site, particularly SafeMoon, said “doesn’t offer much”.

READ MORE: Can You Buy SafeMoon On Coinbase? How to buy SafeMoon

Regardless, Mr. Morris believes that it will go in the same direction as SafeMoon and that it will ultimately be a “phase”.

He said, “SafeMoon has a lot of similarities to Dogecoin, but it’s even riskier because it doesn’t have the history that Dogecoin has.

“At this point, SafeMoon, Dogecoin, and other altcoins that appeared out of nowhere seem likely to be in a phase similar to GME.

“However, we may not see a major correction until the next major market correction.”

“Long-term investors should look into things like Ethereum because they provide great infrastructure in the industry and they actually deserve the value that they have.”

Ethereum is currently one of the most valuable cryptocurrencies on the market.

The coin is valued at $ 3,986.99 (GBP 2,827.63) and its value is increasing daily.

On the final day, it is up 7.90 percent, reaching its current position of less than $ 200 (£ 141.84) around this time last year.