The SafeMoon developers announced plans to launch a new meme token on Solana after burning 2.2 trillion SFM tokens. They stated this transition is part of decentralization, handing control to the community. SafeMoon will have no roadmap, with its future driven solely by community sentiment. Solana was chosen due to its association with memecoins. The move aims to revive the project, which peaked in 2021 with a $17 billion market cap but has since plummeted to $20 million. SafeMoon's decline followed exchange delistings after a 2023 U.S. DOJ investigation accused its management of misappropriating over $200 million.