The post SafeMoon Token Plunges 31% After Bankruptcy Filing! appeared first on Coinpedia Fintech News
SafeMoon has seen a steep 31% drop in its token price within five hours after the company filed for bankruptcy. SafeMoon officially filed for Chapter 7 bankruptcy on December 14 in the United States Bankruptcy Court in Utah. The news led to a rapid decline in the token’s value, with SafeMoon’s price falling from $0.000065 to $0.000045 over a five-hour period. However, the token rebounded slightly and is currently trading at $0.00005729. The token’s market cap has also dropped significantly, from $1 billion to $34.5 million.
English