SafeMoon price live: How does SafeMoon compare to Dogecoin today?

But people should be aware investments in SafeMoon can go up and down, and anyone considering investing should be aware of the risks involved.

Before investing in any cryptocurrencies, people should also do extensive research to check the companies they are investing in are legitimate.

Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown, told The Sun: "Much of the demand has come from traders hoping to benefit from future price rises rather than using the coins or tokens as a means of exchange.

"Predicting the point at which demand subsides and prices begin to fall is very difficult, if not impossible, and people risk getting their fingers seriously burnt."

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