Forget Dogecoin: 5 Meme Coins Reddit is Buying for 2022

2. SafeMoon

SafeMoon is a cryptocurrency launched in 2021 and was created on the Binance Smart Chain blockchain. It is well-known for charging a high transaction fees of 10% but has generated a lot of social media hype in the past few months, especially on Reddit forums. In order to encourage a long-term mindset within users, the SafeMoon network distributes half of the 10% transaction fees among long-term holders. It is also one of the reasons why this meme coin is a lot more stable than most others in the market. 

SafeMoon is described as a meme coin because it has no unique usage case. The value of the coin depends solely on the investors who buy in. The coin has been promoted by celebrities like Lil Yachty, Jake Paul, and Dave Portnoy. SafeMoon has a market cap of more than $765 million but a volume of just around 319,000.