The first thing to note is that Safemoon is not currently listed on any major cryptocurrency exchanges such as Binance or Coinbase. Due to this, the amount of liquidity is relatively low, meaning that technical analysis isn’t as accurate as digital coins with high liquidity. The low liquidity of Safemoon means that large buy orders tend to boost price significantly – which, in turn, leads more people to buy into the ‘hype’.
While Digitalcoinprice expects it to reach $0.0000056193 this year and $0.0000166265 in 2028.
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Citation: Phillips RC, Gorse D (2018) Cryptocurrency price drivers: Wavelet coherence analysis revisited. PLoS ONE 13(4): e0195200. https://doi.org/10.1371/journal.pone.0195200
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“Every single day, the concept that it could be worth something, it could be a store of value is being continually approved by more large, powerful entities,” Johnson says, pointing to established financial institutions holding digital currencies and large corporations adding them to their corporate balance sheets. “The idea that it’s actually worth something is continuing to grow as adoption and acceptance continues to grow as well.”
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The global cryptocurrency market cap has grown by 2.63 percent over the previous day to $2.94 trillion, data from coinmarketcap.com shows.
Although transaction fees don’t accrue to sellers, miners are permitted to prioritize fee-loaded transactions ahead of fee-free transactions when creating new blocks, even if the fee-free transactions came first in time.
These token burns are designed to increase the scarcity of the token and push the value higher. Safemoon initially launched with a circulating supply of one quadrillion tokens (!!!), although the development team burned 223 trillion of these right away. Over 400 trillion tokens have been burned so far, with this figure continuing to grow as the months go by.
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SafeMoon captured attention from the get-go. Its name evokes a prudent form of the “to the moon” mantra embraced by crypto crowds looking for prices to burst straight up.
Bitcoin (BTC) crashed to just $8,100 on Oct. 21 — but only if you were trading on Binance’s dedicated United States exchange, Binance.US.
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These platforms allow holders to exchange their cryptocurrency holdings for major fiat currencies like the U.S. dollar and euro, and for other cryptocurrencies, including less-popular currencies.
It seems all too fitting that Facebook’s plans to launch a digital coin were leaked in the second-to-last week of a year that saw the tech giant’s reputation pummeled and cryptocurrencies crash and burn. It’s like grilling a shit sandwich over a dumpster fire.