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.
Safemoon is a cryptocurrency token that was launched in March 2021. The token is housed on the Binance Smart Chain (BSC), a blockchain developed by Binance that runs parallel to the traditional Binance Chain (BC). The difference between the two is that Binance Smart Chain has smart contract functionality, opening up many avenues for decentralised applications (dApps) to be constructed.
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When bitcoin was rising last year, it seemed like a trend everyone from your grandmother to your barista was suddenly becoming hip to. Of course plenty of folks cautioned that it could be a bubble, but it’s always hard to realize such a thing when you’re in the midst of it. It’s free money, right? Why not get in on it? (Just don’t remortgage your house!)
This year we saw a similar fight break out–this time over bitcoin cash. This coin, mind you, is not bitcoin, though it is built on the same architecture. It was created by a group of miners who disagreed with some of the fundamentals of the initial bitcoin system, and so they forked a new blockchain and went their own way. In terms of market capitalization, bitcoin cash has always been one of the top cryptocurrencies–in the ranks of Ethereum and XRP.
Binance currently caters to both novice to veteran cryptocurrency traders, while American users struggle to make full use of the platform. Binance is, undoubtedly, the better and more developed platform and the best choice for users.
We’re always here to help, whether you’re a longtime user or just getting started.
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Critics also highlighted that its website contained many spelling mistakes and grammatical errors. The website is no longer online and social media accounts promoting the tokens have also vanished.
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Non-fungible tokens, in contrast to bitcoin, are each unique and cannot be replaced by something else.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice. Cryptos feed Dogecoin price provides perfect buy opportunity for a 50% breakout
The flag-wavers point to these and other concerns to warn that SafeMoon may not, in fact, be safe.
"My advice to mainstream investors is to wait for the Certik audit (Q4 of 2021) and improvements in the liquidity pool before proceeding."
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Contrary to this assumption, if the price plummets below the 20-day EMA, traders may rush to the exit. That could pull the price down to the 50-day SMA ($39.87).
And while proponents tout cryptocurrencies as potentially lucrative alternative investments, few serious financial professionals view most coins — with the important exception of Bitcoin and a few others — as suitable for anything other than pure speculation.