Meme Coin Madness: SafeMoon’s Sudden Shift

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“Meme Coin Madness: SafeMoon’s Sudden Shift”

Meme Coin Madness: SafeMoon’s Sudden Shift

Oh, darling! SafeMoon is having a spot of bother, and it’s all about to get delightfully messy! 🤯

It appears they’re pivoting to a new phase, launching a meme coin on the Solana blockchain. Because, why not? It’s not as if they have a reputation for being serious or anything… 😜

SafeMoon Meme Coin on Solana: Because Community is Key (Apparently)

On Valentine’s Day, SafeMoon announced that they’re handing the reins over to the community. How quaint. No more teams, roadmaps, or false promises. Just pure, unadulterated meme energy… or so they claim. ❤️

“This Valentine’s Day, we’re proving our love for the community in the best way possible—by handing SafeMoon over to you. No teams. No roadmaps. No false promises. Just pure, unfiltered, community-driven meme energy,” the team stated, with a completely straight face, we’re sure.

But, of course, t the contract is NOT public yet. If you’re buying a ‘SafeMoon’ on Solana (or anywhere else) right now, you ARE getting scammed. Wait for us to drop the official contract address. Don’t get rekt,” SafeMoon warned, with a healthy dose of sarcasm, we hope.

After launching the meme coin, SafeMoon will allow existing SFM holders to swap their tokens through the VGX wallet. Because, liquidity. And, you know, a new use case for the community to get excited about. 🤑

SafeMoon Burns 2.2 Trillion Tokens: A Pyrrhic Victory?

SafeMoon’s shift to Solana comes after the project burned 2.2 trillion SFM tokens across Ethereum, Polygon, and Binance Smart Chain. Because, why not? It’s not as if they have anything better to do… 🔥

Yesterday, the project announced that it had removed nearly all tokens on Ethereum and Polygon and about 60% from the Binance Smart Chain supply. A bold move, indeed. 🤯

Meanwhile, these efforts follow a concerning history marked by fraud allegations and bankruptcy. But, hey, who’s counting? 🙄

At its peak, SafeMoon’s market cap soared to over $1 billion, which has now dropped below $20 million. Ah, the classic tale of boom and bust. 📉

US authorities accused SafeMoon’s leadership of misusing investor funds, alleging that over $200 million in locked funds were withdrawn to buy personal luxury cars and property. Because, priorities. 🚗

Following these setbacks, the VGX Foundation acquired SafeMoon through a bankruptcy court ruling. A new beginning, perhaps? 🌅

“The VGX Foundation purchased SafeMoon assets independently through bankruptcy courts – nothing happening right now is a revival by former actors. The VGX Foundation spent millions securing SafeMoon because they believe in the power of the community. They believe in the power of YOU,” VGX Foundation remarked, with a healthy dose of spin.

The new strategy seeks to put past controversies behind us and place the project’s future entirely in the hands of the community. Because, community is key, darling! 🤝

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2025-02-15 16:09