SafeMoon (SFM) is up 97% in just 24 hours, sparking renewed investor interest. This rapid price increase comes after a challenging period for SafeMoon, which included a bankruptcy filing in December 2023 after a token burn exploit depleted its liquidity pool.
The company also faced the arrest of its executives, raising doubts about its future. However, the recent price increase is driven by the release of the SafeMoon wallet, which entered open beta after a successful closed beta.
The launch of the SafeMoon Wallet is considered an important development, especially after the acquisition of SafeMoon by the VGX Foundation. The wallet offers users a simple and accessible way to manage their tokens and is part of a broader strategy to rebuild and expand the SafeMoon ecosystem.
With plans for a centralized exchange and NFT marketplace, the VGX Foundation is working to bring more functionality to SafeMoon, which…
