‘Safemoon Squeeze’ Joins High Tendencies On Twitter After Fashionable Publish On Reddit’s SatoshiStreetBets

A hashtag calling for “squeezing” the SafeMoon (CRYPTO: SAFEMOON) cryptocurrency joined high traits on Twitter Inc’s (NASDAQ:TWTR) platform after a publish gained traction on Reddit.

What Occurred: The publish by Reddit person “GMEandAMCbroughtme” on r/SatoshiStreetBets mentioned that this was not a typical quick squeeze however “merely a squeeze resulting from large sustained upward strain on the value resulting from group and marketing campaign pushed quantity induced token burn.”

See Additionally: How To Purchase SafeMoon (SAFEMOON)

At press time, within the early hours of Monday, the hashtag #safemoonsqueeze was among the many high traits on Twitter.

The Reddit Publish mentioned whereas the GameStop Corp (NYSE:GME) and AMC Leisure Holdings Inc (NYSE:AMC) quick squeezes have been “largely an American phenomenon, this will likely be a world one.”

Why It Issues: Making the case for a “quick squeeze,” the publish mentioned SafeMoon’s “hyper deflationary nature” will result in a depleted provide resulting from token burn.

The poster additionally took inventory of upcoming releases of merchandise such because the laborious and delicate wallets and future listings of SafeMoon on exchanges.

See Additionally: EXCLUSIVE: Dogecoin Mania Did not Show ‘The Finish Of Crypto,’ So They Launched Industrial Rest room Paper-Backer Tetherino, ‘The Most Ridiculous Cryptocurrency’ Ever

SAFEMOON traded 0.28{b02bdf04de3f9bc06c998e855c65941e7d8f5cd012e86469a83340818e6b6d52} decrease at $0.00000393 at press time over 24 hours. The token has declined 2.02{b02bdf04de3f9bc06c998e855c65941e7d8f5cd012e86469a83340818e6b6d52} over a seven-day interval.

SAFEMOON has risen 3.84{b02bdf04de3f9bc06c998e855c65941e7d8f5cd012e86469a83340818e6b6d52} and three.69{b02bdf04de3f9bc06c998e855c65941e7d8f5cd012e86469a83340818e6b6d52} towards Bitcoin (BTC) and Ethereum (ETH) up to now 24 hours, respectively. 

BTC traded 3.29{b02bdf04de3f9bc06c998e855c65941e7d8f5cd012e86469a83340818e6b6d52} decrease at $34,426.62 and ETH traded 3.72{b02bdf04de3f9bc06c998e855c65941e7d8f5cd012e86469a83340818e6b6d52} decrease at $2,119.46 at press time.

Some posts on SatoshiStreetBets took discover of the utilization of the time period “squeeze.”

“There is no such thing as a squeeze if there is no such thing as a quick,” wrote person DayFeeling. Personaanongrata added to the string by saying, “Not the whole lot is a squeeze.”

Learn Subsequent: SafeMoon Spikes 20.5{b02bdf04de3f9bc06c998e855c65941e7d8f5cd012e86469a83340818e6b6d52} After CEO Discloses Involvement In Dogecoin-SpaceX Partnership

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