If the price turns down from the resistance line of the channel, the pair could drop to the support line. This is an important level to keep an eye on because a break below it will suggest a possible change in the short-term trend.
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Mr Musk has served as a key for driving up the prices for other major meme coins this year, including Dogecoin and Shiba Inu.
Stock, J. H. and M. W. Watson (1993), “A simple estimator of cointegrating vectors in higher order integrated systems”, Econometrica, 783–820.
‘Wolf of Wall Street’ Jordan Belfort is urging people to pump his Twitter followers and Dogecoin
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The billionaire founder of Citadel also expressed bewilderment with Elon Musk's decision to ask Twitter if he should sell 10% of his Tesla stake.
With all of these shortcomings facing most of the competition, Safemoon is definitely in trouble. The Safemoon team has to do a lot to make the play competitive. Otherwise, not many people will be interested in this Safemoon. This means low demand, and this is how the value of Safemoon’s coin will plummet.
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Profit-booking near the resistance line pulled the price back toward the critical level at $49.54 on Nov. 9. The strong rebound off this level on Nov. 10 suggests that bulls are defending this level with vigor.
SafeMoon today trades around 0.0000027 a coin with a market capitalization of about US$1.6 billion, sharply lower than its high of almost US$6 billion in mid-May, according to CoinMarketCap. Article content More On This Topic Stablecoins: The cryptocurrency that keeps central bankers up at night Canada missed its crypto moment, but it might not be too late to exploit our edge Cryptocurrency exchange Binance to stop support for stock tokens Bitcoin miners navigate the extreme world of crypto power-hunting
One key thing to look out for is Safemoon to be added as a tradeable asset by a major broker or crypto exchange. Many of the best trading platforms will allow users to request assets to be added to the platform. If a request gets enough traction, the platform may look into its viability and then decide whether or not to add it.
As explained in its roadmap, the SafeMoon team hope to begin a "community listing donation raise for several exchanges" in Q3 2021. As of July 21, this has not yet started.
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