I have mentioned multiple times in past here that people should be cautious with alt coins. If some coin has moved up like 100% or more in just 24 hours, it does not mean that you should also purchase the coin. You should first understand the reason behind prices moving up. Then, you should also analyze the benefits and demerits of the project.
One such option has come again in safemoon. The coin has pumped more than 100% when they reduced fees from 10% to 1%. Now new investors are rushing to invest in this coin. This is the situation when the past investors in the coin are like in 99% loss of their invested value. But greed make people loose all senses I think. If you are still thinking to invest in safemoon now, think twice.
That is true we must be cautious with alt coins. There is no guarantee that if we saw the coin pump to 100% within 24 hours and invest on it we will gain profit. It is very risky to invest in an alt coin that was being pump to 100% because it might declined dramatically or doubled the 100%. That is why the quick rich attitude often mess up with investors. Crypto currency market is very volatile in a blink of an eye you might loose all your investment. So think twice or thrice before investing in your chosen crypto.