SafeMoon price struggles to establish a clear floor after pulling back nearly 50% from the all-time highs it established in late October. Last Friday showed some evidence that a continuation move higher may occur, but that quickly fizzled out.
$SAFEMOON is the Safemoon crypto symbol. The appearance of Safemoon (SAFEMOON) on cryptocurrency exchanges, charts, and graphs identifies this digital currency.
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SafeMoon listed three reasons why the V2 upgrade is expected to boost the demand for the token in a recent tweet:
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This cryptocurrency is also available and is traded on Coinbase – one of the world’s largest crypto exchange platforms. This accessibility is another reason why it’s an appealing investment option.
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After all, gold is often touted as the ultimate inflation hedge, yet it’s still subject to wild volatility — more so than many developed countries’ fiat currencies.
Like traditional currencies, cryptocurrencies express value in units — for instance, you can say “I have 2.5 Bitcoin,” just as you’d say, “I have $2.50.”
The recent spin-off of its managed infrastructure business into a company called Kyndryl (NYSE: KD) removes a noncore business from its balance sheet. Also, management promised that the two companies would maintain the current combined dividend.
Community Focused and fair launch. The dev team burned all of their tokens and participated with everyone else.
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It hasn't yet been recognised by the major cryptocurrency sites such as Coinbase but why did it get so popular?
The majority of the crypto currency market saw prices crash once more on the morning of 22 June following China’s clampdown on digital currencies.
In the meantime, cryptocurrency users (and nonusers intrigued by cryptocurrency’s promise) need to remain ever-mindful of the concept’s practical limitations.
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.
If they manage to do that, the BNB/USDT pair will challenge the overhead resistance at $691.80. The rising moving averages and the RSI in the overbought zone indicate the path of least resistance is to the upside.