Investors in SafeMoon are trying to form an alliance with Kim Kardashian, after she posted an ad for a cryptocurrency on Instagram.
The reality TV personality is being inundated with posts about SafeMoon on social media, with the people behind the posts hoping to bring the fledgling cryptocurrency to her attention.
It comes after Kardashian promoted EthereumMax on Sunday, posting an ad for the cryptocurrency on Instagram.
“Are you guys into crypto???? This is not financial advice but sharing what my friends just told me about the Ethereum Max token!” the ad read.
“A few minutes ago Ethereum Max burned 400 trillion tokens—literally 50% of their admin wallet, giving back to the entire e-max community.”
Kardashian’s post also encouraged viewers to “Swipe up to join the e-Max community.”
It has become apparent that celebrities and public figures, most notably Tesla founder Elon Musk, have the ability to influence the value of cryptocurrencies simply by making positive or negative comments about them online.
Financial experts have previously warned Newsweek about the risks associated with cryptocurrency trading, including extremely volatile prices that can shoot up or collapse on little more than hype alone.
Musk, who has 57 million Twitter followers, regularly tweets about bitcoin, dogecoin and other cryptocurrencies, with his comments often influencing the value of the tokens.
However, he closed his Instagram account in 2018, the same year he deleted the Tesla and SpaceX Facebook pages, and says he’s never had a Facebook account.
Kardashian, by comparison, has 228 million followers on Instagram, 69 million followers on Twitter, and 33 million followers on Facebook.
It’s therefore highly likely that many of the SafeMoon investors currently petitioning Kardashian are doing so in the hope that they might be able to persuade her to say something favorable about the cryptocurrency online, and thereby boost its popularity and value.
@KimKardashian hey there so I seen you posted about crypto currency. You should grab some #SAFEMOON for your crypto currency bag. It’s the best upcoming crypto on the market and it’s helping people in Gambia. Look into it and if you like it grab it 💎🙌🏻🚀🌔
— Jeremiah’s life (@JeremiahFoor) June 15, 2021
SafeMoon’s user base, however, isn’t completely united in the endeavor, with some turning their noses up at the strategy.
“The idiots that follow her blindly do anything she says. If she says Safemoon is the best crypto out there, they will steal mommy or daddy’s credit card and fill up on it,” one SafeMoon fan wrote on the SafeMoon subreddit.
“I don’t doubt her utility, it’s more a question of desired affiliation,” another commented.
Another user chimed in: “People like her have platforms. They interact with things they believe in. She’s active. Her followers will follow her.. We are making good decisions as a community that could possibly increase our liquidity pool.”
Meanwhile, another added: “Everyone pitch in $1 and we’ll send her 100k. Only way I see this working. But if we can get her on board,” followed by a rocket emoji, indicating a surge in the value of SafeMoon.
Axelle/Bauer-Griffin/FilmMagic/Getty Images