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SAFEREUM Price Drops Over 95% After $1.2 Million Rug Pull

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ZachXBT revealed that SAFEREUM experienced a rug pull involving more than 730 ETH. A prominent promoter of this scam was the cryptocurrency influencer known as ‘SlumDOGE Millionaire.’ Currently, SAFEREUM is valued at $0.0000007193, with its price dropping by over 95% in the last day.

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In the last 24 hours, Safereum (SAFEREUM) investors faced a tough situation, seemingly due to a rug pull. ZachXBT, who had experienced a rug pull in the past and now investigates such incidents, revealed on X that SAFEREUM was subjected to a rug pull involving more than 730 Ethereum (ETH), which is roughly valued at $1.2 million.

ZachXBT’s post also exposed the involvement of the cryptocurrency influencer ‘ProTheDoge,’ also known as “SlumDOGE Millionaire,” as one of the key figures promoting the SAFEREUM scam. This influencer has gained notoriety for endorsing rug pull tokens similar to SAFEREUM.

In previous posts on X earlier this year, SlumDOGE Millionaire expressed strong optimism about SAFEREUM and emphasized that there were purportedly five audits conducted on the project.

SAFEREUM: A Rug-Pulled Token Falls Over 95% in 24 Hours

Just two days ago, the influencer known as SlumDOGE Millionaire praised the SAFEREUM team for bringing the token to a new all-time high market capitalization shortly after it hit a low of $3 million. This achievement occurred during a bear market.

SAFEREUM is a decentralized meme token built on the Ethereum blockchain and gained trust from traders and investors due to its listing on Tier 1 exchanges, including Gate.io.

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Unlike most cryptocurrencies, SAFEREUM doesn’t rely on traditional blockchain technology. Instead, its supply is managed through smart contracts on Ethereum’s internal blockchain. The platform doesn’t impose taxes on buying, selling, or converting SAFEREUM tokens, making it attractive to traders.

SAFEREUM / Tether USD 1D (Source: TradingView)

As per CoinMarketCap, SAFEREUM was trading at $0.0000007193 at the time of writing. This followed a price drop of over 95% in the past 24 hours, with the token reaching an all-time high price of $0.0000182 on October 21, 2023.


Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

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  • SHBAZ

    A crypto enthusiast, Loves to write, Loves to explore and stay up-to-date about the latest developments in the crypto world. #Btc #Crypto #NFT

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