
Key Points:
The Safemoon SFM coin has been experiencing a downturn since the first week of January 202. Immediate the Safemoon V2 was fully launched, the price surged in the first week of January, and from then, the Safemoon price has been dropping non-stop.
The FED's hawkish regulations might have driven SFM's decline, but there is so much about the Safemoon project contributing to this downturn. The biggest challenge has been the slow delivery of the Safemoon project. Since the project launched in March 2021, Safemoon has done very little in terms of development. The only significant development has been the Safemoon V2.
The slow Safemoon development has been the reason Safemoon SFM selling pressure has been growing. The impact has been the reducing Safemoon price. What is interesting is some Safemoon holders selling are joining Safemoon's biggest competitor, Bitgert.
Bitgert has been one of the few projects that have surpassed Safemoon growth despite being a newcomer. Bitgert launched 5 months after Safemoon and has achieved so much in developing this project. Here is more about Bitgert:
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