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For instance, whereas a government can easily freeze or even seize a bank account located in its jurisdiction, it’s very difficult for it to do the same with funds held in cryptocurrency — even if the holder is a citizen or legal resident.
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The SafeMoon price today is $0.000004713 with a 24-hour trading volume of USD 73,084,979, and it has been down 20% over the last day. The market cap for this cryptocurrency stands at 2 billion US Dollars, ranking #204 on CoinMarketCap.
Early adopters enjoy another five-figure payday as the Ethereum Name Service protocol airdrops its new governance token to domain holders.
The Fibonacci retracement indicator, measured from the Oct. 17 swing low at $3,640 to the Oct. 21 swing high at $4,375, suggests that Ethereum is sitting on stable support. The combination of the 50% Fibonacci retracement level with the 50 four-hour moving average at $3,922 is the most significant interest area underneath ETH.
It was first outlined in a 2008 white paper published by Satoshi Nakamoto, a pseudonymous person or group.
Founded by an alias of “9ZEROES”, DogeZilla models itself as a community-based project.
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Yet some crypto watchers have raised red flags over SafeMoon’s unusual structure. It charges a 10 per cent fee to buy tokens and another 10 per cent to sell — almost unheard of in the digital currency world. Half of these fees are paid to owners as an incentive to keep holding and the other half goes into a liquidity pool controlled by the developers. SafeMoon calls itself a DeFi token, or one that uses decentralized finance to govern functions through software, but it has a chief executive officer and chief operating officer. Critics also worry about the discretionary nature of the “manual” coin burns used to adjust its circulation. After 19,000% early gain, crypto SafeMoon’s rules to tamp down selling raise red flags Back to video
Its website carries the slogan ‘Safely to the Moon’ - a play on the phrase first mooted by WallStreetBets on Reddit in an attempt to hype up the price of Dogecoin.
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.
Its Facebook page states: "Remember, getting to the moon takes time and the longer you hold the more tokens you pick up."
If you are worried about possible scams – funny enough DogeZilla claims it aims to make the crypto space safer for users.
The exchange is cutting off Chinese users and will lose a third of revenues from next year, co-founder tells FT News
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"Some of the NFT collections had bounced by 50-60% in the past few days, which indicates a possible reversal in the coming weeks," he added.
A look at the recent charts shows that Safemoon has been on a downward trend since the start of November. Safemoon has also not been doing very well since its last all-time high around 21st April 2021. Despite a surge in mid-May, the next time Safemoon experienced bullish growth was the end of October.