With more than 11,000 cryptos to choose from, people who are just getting started crypto get overwhelmed. However, not all of these cryptos are worth investing in. That is why we compare cryptocurrencies and tokens with one another and help you choose between different coins. In today’s article, we will compare two reflect tokens: SafeMoon and PooCoin.
At A Glance
|Token||Current Supply||Penalty Tax||Products||Upcoming Products|
|SafeMoon||585 Trillion||10% (2.05% burned)||Swap||Wallet, Exchange, Hardware Wallet|
|PooCoin||5.5 Million||8% (4.00% burned)||Live Chart Site, Swap||N/A|
The SafeMoon Token
The SafeMoon token is a token launched on the Binance Smart Chain (BSC) in early March. This token is the first reflective token to ever exist. Its tokenomics are quite unique and paradoxical at the same time. The total supply of SafeMoon was 1 Quadrillion – a tremendously high supply for a token. However, through a burn mechanism that they included in their tokenomics, the supply is gradually going lower. At the time of writing, only about 550 trillion SafeMoon tokens exist.
According to CoinMarketCap, this token joined the market with a price of $0.000000000545 and in only some weeks it literally mooned, hitting the price of $0.000013 on the 20th of April. After hitting its all-time high, SafeMoon experienced extreme volatility, until August, when it calmed down a bit. Today, SafeMoon has a trading value of $0.0000017, four zeros higher than its initial price. When it hit its all-time high, SafeMoon had a market capitalization of more than $6 billion, making it one of the biggest tokens at that time. Today, its market cap is roughly $1.04 billion.
The SafeMoon team has announced multiple upcoming projects, with the SafeMoon wallet being the most anticipated one since it was set to release before the other products. When it was first released, on the 28th of August, it immediately crashed and no one got to use the new wallet. The developer team of SafeMoon promised to fix this as soon as possible. Despite the failed launch of the wallet, the SafeMoon Swap launch was a success.
It is expected that the hot wallet and exchange will be released throughout the next months. As for the hardware wallet, it is believed to hit the market sometime next year.
The PooCoin Token
The PooCoin token is also a BSC token that was launched in April 2021. It had an initial supply of 10 million, yet, today it has a total supply of 5.5 million and a market capitalization of $10 million. Similar to SafeMoon, the PooCoin token is a reflect token that charges an 8% fee on each transaction; with 4% being burned and 4% going to hodlers. According to CoinMarketCap, the PooCoin token has a trading volume of $155000, a small number when it comes to cryptocurrencies and tokens.
It joined the market with a price around $2.81 and quickly began to increase, setting an all-time high after hitting a trading value of $15.05 on the 12th of May. Nevertheless, its price dropped to $4.22 by the end of May. As time passed by, PooCoin’s token price continued to fall. Today, 1 PooCoin token is worth $1.79.
How long can you #hodl your poo?
— poocoin (@poocoin_token) August 25, 2021
The PooCoin Decentralized Application (DApp)
The PooCoin DApp is a live chart site that focuses on tokens similar to SafeMoon. What do we mean by that? When it first rolled out, SafeMoon was called a “shitcoin” by many people, referring to its uselessness. Even though SafeMoon proved these people wrong by becoming quite a serious token with big plans for the future, that term stuck around and is still used for useless tokens. So, the creators of the PooCoin DApp decided to answer these doubters in a fun way. They created a live chart website for tokens that were being flamed as “shitcoins” and they set a poo emoji as their logo.
The PooCoin DApp focuses on the tokens built on the Binance Smart Chain. To be more exact, every token that is launched on the Binance Smart Chain is automatically added to the PooCoin DApp as soon as there is liquidity.
The PooCoin DApp also includes other cryptocurrencies such as Dogecoin (DOGE) and Cardano (ADA). However, it only includes their market pairs with Binance Coin (BNB).
Moreover, the PooCoin DApp provides a trading option for its users, having listed every Binance Smart Chain token that has enough liquidity for trade. You can use Binance Coin (BNB), Binance USD (BUSD), Bitcoin BEP2 (BITB), USD Tether (USDT), and Ethereum (ETH).
Also Read: SafeMoon Price Prediction 2021 and Beyond – Is SAFEMOON a Good Investment?
- The logo and name of the PooCoin DApp are a response to the flaming that was done against reflection tokens earlier this year.
- The PooCoin DApp provides its users with live charts of all the Binance Smart Chain tokens. Its token, PooCoin Token, is used to unlock features on their DApp.
- SafeMoon has a current supply of 585 Trillion tokens while PooCoin has a current supply of 5.5 Million
- Since SafeMoon was listed in this DApp immediately after its launch, the PooCoin DApp is used by many SafeMoon holders.
- If you want to invest in either of these tokens, do your own research. Yet, we believe that SafeMoon might be a better investment because of its future plans and active team.