It was a wild ride for SafeMoon, with its prices exploding in the first few weeks before crashing down.
Now that you’ve got an idea of what Safemoon is and its background, we can focus on the coin’s long-term outlook. Most beginner crypto investors simply buy Bitcoin (BTC) or Ethereum (ETH), although lesser-known coins such as Safemoon can be better options if you are looking for quick returns. However, that being said, these options tend to be much riskier, so this will depend on your risk tolerance.
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$SAFEMOON is the Safemoon crypto symbol. The appearance of Safemoon (SAFEMOON) on cryptocurrency exchanges, charts, and graphs identifies this digital currency.
This lack of regulation means its transaction costs are less - making it an attractive tool or investment for people to move digital money around the world.
It remains to be seen if Decentraland turns into the next meme coin of choice for retail investors, but it has lately picked up some traction from Reddit users via threads.
Daily NFT sales volume on open-sea has started consolidating, and there is a good chance that the market had probably found a bottom, said Hitesh Malviya, Founder, itsblockchain.com.
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Discrepancy in price of token on spot and futures markets opens opportunities for arbitrageurs
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Nostalgia seeps in the trends, whenever the price of SafeMoon cryptocurrency makes a continuous price increase, data of SafeMoon forecast shows the rise was followed by a correction between 20 percent and 30 percent, adding to investor rally of buy and sell. SafeMoon, the world’s best-known and most valuable cryptocurrency based on SafeMoon Protocol price rise, has more than doubled in price this year, a wild run that’s reminiscent of its monster rally in the last month that saw it narrow in on the 0.000004 US Dollar mark.
This may sound like an over-inflated number to many, however, Shiba Inu recently showed that this is within the possibility of the cryptocurrency market. With reasonable timings assumed, $1000 in Shiba Inu would have generated investors over three million dollars.
As of November 9, SafeMoon has 2,865,000 holders. There has been a consistent rise in the number of SafeMoon holders over the past two months.
It’s impossible to determine at this point whether SafeMoon is a riskier investment than any of the other 4,000 or so active cryptocurrencies. Crypto skeptics like Megan Horneman, direct of portfolio strategy at Verdence Capital Advisors, warns investors to steer away from all digital coins, since they have no underlying assets and are threatened by regulatory oversight.
Enforcement Director Joe Rotunda discusses fraud in crypto-related securities offerings: