A warning about the SafeMoon scam & pyramid scheme

We've got a lot of new market entrants due to the SafeMoon spam on Tiktok. A bunch of noobs are promising riches for people buying SafeMoon. You watch the videos on TikTok and the people buying and promoting this coin actually have zero crypto experience or knowledge minus an individual (probably the founder) who has been pumping this coin from the start and accumulated a fortune at the very very beginning, all they're doing is saying "buy this coin and get rich".

The owner of Safemoon holds over 50% of the supply, currently worth billions of dollars. Now it's starting to spread to Twitter. This is a classic pump and dump, and the sad part of it is that it seems to be working. My partner asked me about SafeMoon last night because it keeps appearing on her feed.

Just a warning to new entrants that this is going to end extremely poorly. The only people get rich off events like this are the OG bagholders who are manipulating all of the noobs into buying their shitcoin.

SafeMoon has no actual fundamentals and was designed to be a pump and dump: https://stockhead.com.au/cryptocurrency/this-is-a-scam-crypto-influencers-speak-out-about-safemoon-pyramid-scheme

It's our job to educate beginners, don't let them buy this garbage. Educate them about the space and point them in the direction of projects that actually do useful things for the space.

Edit: Some more hilarious facts about this scam.

• People are saying SafeMoon is a good buy because "it's so cheap", and "imagine if it went to $1 like DOGE" – if SafeMoon went to $1 it would be worth over 500 TRILLION dollars marketcap, 6x larger than the global economy. Never going to happen.
• It costs 10% to send a transaction on SafeMoon. Yeah, want to withdraw? there goes 10%. Want to deposit that on an exchange later? There goes another 10%. What happens to these fees? They're re-distributed to the largest SafeMoon holders. So all the really rich holders siphon all of the money out of the system over time through these fees. Also, what does that say about the utility of the coin if you can't even spend it without paying 10%?
• 50% of that 10% transaction fee is also transferred to a "liquidity pool", that only the devs of SafeMoon can access and spend for whatever purpose they like.

This entire project is engineered to siphon money out of beginners. Sad. See more here: https://www.youtube.com/watch?v=BYJ8n71du5g