Reddit Gets SafemoonSqueeze Trending On Social Media

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Last Updated on 22 June 2021 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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Fans of the crypto token Safemoon were able to get the term SafemoonSqueeze trending on social media. The squeeze refers to the Gamestop and AMC saga that happened earlier this year when Reddit group WallStreetbets managed to soar the price of stocks that were being heavily shorted by Wall Street Hedge Funds.

This time round, the culprit for the term SafemoonSqueeze posted first on SatoshiStreetbets, a crypto forum on Reddit that aims to be the crypto equivalent of WallStreetbets.

The Reddit post, entitled the SafemoonSqueeze has begun explained that while the well reported GameStop Corp and AMC Entertainment Holdings Inc short squeezes were mostly an American phenomenon, this will be a global one.

Advertentie.

Not a short squeeze

It furthermore stated that:

This is not a SHORT squeeze but simply a squeeze due to massive sustained upward pressure on the price due to community and campaign driven volume induced token burn. GME and AMC was mostly an American phenomenon , this will be a global one. This is not a short term pump. This is a sustained pump all the way to the fkn moon

The simple fact that the SafemoonSqueeze term was noticed in publications such as Benginza and Newsweek on the day that it took place makes us believe it is an orchestrated event.

As always, be sure to do your own research. We asked about a month ago already whether Safemoon and Shiba Inu were opportunities or scam projects. The jury is still out, but both of them are sure getting the attention of cryptofans.

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