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The launch of the SafeMoon (SAFEMOON) wallet ran into unexpected technical issues, shortly following its release.
SAFEMOON Price & MarketWhat is SafeMoon?Simetri ReportNetwork & SignalsRecent Tweets
From the perspective of technical analysis, profit-taking near all-time highs and the need for a retest of lower support levels are normal processes for most cryptocurrencies. In fact, a quick glance over discussions by many analysts and traders on Twitter shows that most expected BTC to revisit lower support levels at $64,000 and below before recapturing bullish momentum and moving higher.
Laith Khalaf, financial analyst at investment platform AJ Bell, previously told The Sun that although long-term investment is encouraged, SafeMoon "doesn't sound too different from a pyramid selling scheme".
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According to analysts’ forecast, SafeMoon price will hit the $1 level soonest as the price has been showing bullish momentum, steadily moving up since the beginning to attract more buyers. Despite the escalation in SafeMoon cryptocurrency, analysts are cautiously looking at the cryptocurrency market outlook due to the recent drop in crypto prices to their support levels.
Having a capped currency means Bitcoin can be used as a store-of-value investment tool. Investing in a store of value currency can be compared to investing in gold. Although there is some transactional value in gold, it is mostly used as a store of value.
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Brooks quit his role at San Francisco-based Binance.US, citing "differences over strategic direction" in the Twitter post. He worked only three months at the company, which is the American counterpart to Binance — the Chinese company that operates the largest cryptocurrency exchange by volume.
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Ripple also put heavy investments into non-fungible token projects using the XRP ledger – a public blockchain. Many experts claim that this investment puts Ripple in the position to be an “Ethereum killer.”
Bitcoin plunged to as low as $8,200 on Binances U.S. exchange from around $65,000.
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.
According to Karony, SafeMoon could soon be listed on top cryptocurrency exchanges, increasing the accessibility of the token.
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