New Delhi: Major cryptocurrencies witnessed a fall on Thursday amid global inflation concerns, which made other currencies and gold attractive. Barring Solana, all other nine out of the top 10 cryptocurrencies were trading lower at 9.30 hours IST. Cardano, Dogecoin and Polkadot shed up to 5 per cent each.
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.
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As per CoinMarketCap, the value of SafeMoon currency is 0.000003967 US dollars, with a market cap of 2.2 billion US dollars. The digital currency has encountered a consistent expansion in its costs since its launch in the market.
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As long as prices avoid closing below this barrier, odds favor a resumption of the uptrend toward a new all-time high at $4,574.
Other criticism of the founding team has come on the back of several promised developments of a Safemoon ‘ecosystem’ (including a bespoke wallet application) that have thus far fallen short of expectations.
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Finally, the 4JNET team does not hold any 4JNET tokens. The funds raised from the presale will go towards advertising on social media platforms like Facebook, Twitter, YouTube, and KOLs in the industry.
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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:
The launch of the SafeMoon (SAFEMOON) wallet ran into unexpected technical issues, shortly following its release.
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And, while it has big ambitions, its current market value is someway below the $1 dollar threshold - but has experienced a steady increase in price since its launch.