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.
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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But to understand the dynamic that led to this year’s depressing year for crypto, we actually should start a few years before 2018. In bitcoin’s early days, Mt. Gox was the go-to service for handling transactions. Then, in 2014, it halted transactions and slowly copped to a crypto-hack to the tune of $473 million, the biggest hack of its kind at the time, and it gave many people pause. But it was still early enough for people to believe that the blockchain system was still getting all the technical kinks out.
Typically, meme coins don’t gain on fundamentals. Instead, they are usually driven by an internet-based joke.
There's already a meme coin named after Elon Musk's new Twitter handle - and it jumped 825% in its 1st day of trading
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Various factors can be used to monitor usage of a subreddit. Due to the promising trading strategy generated from the factors chosen in [7], these same factors will be examined here. Posts per day indicates the number of posts made on a particular subreddit, per day. (this factor does not include comments made in response to particular posts). Subscriber growth indicates the number of new subscribers that a subreddit receives, per day. New authors indicates the number of new authors posting on a particular subreddit, per day. This current work will aim to confirm the relationship the factors identified have with price in a model-free environment, rather than with the use of a trading strategy which can potentially introduce ambiguity relating to individual factor contributions.
While the biggest cryptocurrency trades strong, its market dominance has been dipping as investors shift to altcoins, said CoinDCX Research Team.
Bitcoin price action shows its weekly Ichimoku chart to be in the most bullish position it has been in since the week of July 31st, 2021. Thus, bulls are positioned perfectly to see Bitcoin rally to $77,000 and beyond. Bitcoin price is locked and loaded for a monster move higher.
Fig 5. Wavelet coherence scalograms between online factors and price (with GSADF test bubble overlay) for Litecoin and Bitcoin.
The SafeMoon exchange is a revolutionary new idea that will bring tokenomics to all of crypto on its platform. We call this Cryptonomics.
On the other hand, if the price turns down from the overhead resistance, it will suggest that traders are defending the level aggressively. The bears will then make one more attempt to pull the price down to the 20-day exponential moving average (EMA) ($566).
Below are some frequently asked questions about how to buy Safemoon crypto. Have a look if you decide to make the leap and buy Safemoon.
In the last 24 hours, Bitcoin has gained around 3 percent and is trading above $67,000. The crypto has added over 10 percent in the past week.
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.
Blockchain ETFs Let Investors Expose Their Portfolio to Crypto Without Actually Buying Any. Here's How They Work
Fundamental analysis is another critical component when investing in cryptocurrency, as it can help determine whether a coin is overvalued or undervalued. In the case of Safemoon, the research we conducted for our Safemoon price prediction found that the coin’s market cap was only $799 million at the time of writing, according to data gathered from CoinMarketCap. This is extremely small for a cryptocurrency and means that Safemoon isn’t even in the top 200 largest cryptos in the world.