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PancakeSwap is Binance's Decentralized Exchange (DEX) and the largest Automated Market Maker (AMM) around.
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FTM has outdone the market in terms of price actions ever since Fantom Foundation announced a 370 million FTM incentive program for developers in August. FTM is currently trading close to $2.6 - up more than 17x from a low of $0.15 in August.
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The SHIB/USDT pair formed a Doji candlestick pattern on Nov. 9 that resolved to the downside on Nov. 10. If bears sustain the price below the 20-day EMA ($0.000053), the pair could drop to the 78.6% Fibonacci retracement level at $0.000040 and then to the 50-day SMA ($0.000033).
Six out of the top-10 cryptocurrencies were trading higher at 9.30 hours IST. Binance Coin and Solana witnessed profit booking whereas XRP gained 9 per cent.
So far, the main thing that has driven Safemoon has been the hype generated by celebrity backing. Celebrities such as Jake Paul, Afrojack, and Keemstar have also promoted the coin this year, leading to significant price increases.
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The global crypto market cap jumped about 4 per cent to $2.85 trillion. However, the total crypto market volume was almost flat to $97.46 billion.
Musk’s decision signifies a sharp u-turn for Tesla who only started accepting Bitcoin as payment for its services in February 2021.
Interestingly, the breakout was initiated right as a report from the United States Bureau of Labor Statistics (BLS) showed a sharp 6.2% annual rise in the Consumer Price Index (CPI), a figure that has hit its highest mark in 30 years.
And, while it has big ambitions, its current market value is someway below the $1 dollar threshold - but has experienced a steady increase in price since its launch.
Access SafeMoon on-chain analysis and actionable signals as a member of CryptoSlate Edge. @safemoon safemoon.medium.com/ fb.com/safemoonprotocol /r/SafeMoon/ t.me/safemoonv2 Discord
Yet the impact on the environment of Bitcoin mining - a complicated process of minting new digital tokens - has seen Tesla withdraw this option for customers.
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The SafeMoon community also has their sights set on a “cool exchange listing” that according to SafeMoon CEO John Karony cited by the SafeMoonWarrior Twitter account will be coming soon. In addition, SafeMoon investors are anticipating a couple of key events, including an expanded crypto wallet and the launch of a crypto exchange.