SafeMoon to Launch New Memecoin on Solana After Major Token Burn
SafeMoon, once a prominent crypto project, is making a comeback with the launch of a new memecoin on the Solana blockchain. This strategic move follows a massive burn of 2.2 trillion SafeMoon (SFM) tokens across Ethereum, Polygon, and Binance Smart Chain, significantly reducing the circulating supply. The VGX Foundation, which acquired SafeMoon after its bankruptcy, is facilitating the transition and aiming to secure exchange listings to restore investor confidence. While SafeMoon previously reached a $17 billion market cap before plummeting due to legal troubles, this new initiative could signal a revival. The memecoin launch, scheduled for Saturday at 1:00 AM UTC, will be closely watched for its impact on liquidity, adoption, and SafeMoon’s long-term market position.
2025-02-17Read