A cryptocurrency analyst at the YouTube channel “Broke Man Finance” has analyzed the SafeMoon price trend and predicted that the token would likely hit a new all-time high soon.
But what is SafeMoon and why has it garnered such an interest? And is it something you should look out for?
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We explain what you need to know about SafeMoon and how its price is predicted to change in 2021.
Even though many coins are on an uptrend, Bitrise is worth considering as thousands of Shiba Inu and Safemoon holders have joined since its release.
Of course, crypto is notoriously volatile. The last time Bitcoin reached these levels, it fell back several thousand dollars, and it’s undergone multiple corrections that take it down by half or more. Other coins are even more volatile – the memecoins bounce back and forth wildly at times – and scams and hacks occur with some frequency.
Musk’s decision signifies a sharp u-turn for Tesla who only started accepting Bitcoin as payment for its services in February 2021.
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Tokens have been created to use smart contracts or tokens as a form of currency. They do not have a blockchain and are used on decentralized applications (dApps).
The good news for U.S. customers is that Binance.US does offer the same low trading fees that its parent company, Binance, does. The only slight difference is that the US exchange offers 10 VIP levels whereas the international platform only has 9 VIP levels. However, for almost all traders, that won't make a difference.
Earlier today, Bitcoin (CRYPTO: BTC) flash crashed to $8,000 on Binance U.S., the American trading platform of the world's top crypto exchange Binance.
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The bears tried to pull Bitcoin below the breakout level at $67,000 on Nov. 9 but they could not sustain the lower levels. The modest pullback indicates that bulls are buying on every minor dip.
The price movements can be seen moving along a descending triangle on the charts. The digital asset can be seen accumulating currently, hinting at a breakout to higher highs. But a slight pullback to support levels can be expected. On the downside, a fall to the bottom can prevail, which is unlikely.
There are quite a few speculations going forward for SafeMoon. Especially keeping in perspective the technological announcements and booming sectors of progress the corporate has designs on, there are assumptions its price may reach $0.0000171. The favor is done by majorly security and scalability features. The exciting promotional ventures may do the rest, making the buyers/sellers harvest the gains.
But cryptoassets as commodities can be traded if they can exhibit clear benefits and can abide by the principles of Shariah, Bloomberg first reported.
SafeMoon is not yet listed on Coinbase or Binance. However, the currency does hope it will achieve this in the future.
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