Indeed, following its nearly $20,000 peak, bitcoin in early 2018 dropped to around $10,000 and hovered there for a while.
VERY PRODUCTIVE WEEK ALL THINGS #SAFEMOON LOADS OF UPDATES TO COME OVER THE NEXT FEW WEEKS/MONTHS! AS #SAFEMOON GROWS EVERYDAY SO DOES OUR VISION AND TEAM. đđ
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It is the latest cryptocurrency to have seen a spike in interest since the turn of the year, following on from the success of Dogecoin, Bitcoin and Ripple XRP in recent weeks.
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Cryptocurrency is an asset that can be exchange for goods and services, much like normal money.
Interestingly, the breakout was initiated right as a report from the United States Bureau of Labor Statistics (BLS) showed a sharp 6.2% annual rise in the Consumer Price Index (CPI), a figure that has hit its highest mark in 30 years.
4JNET has been a favorite of the top players in the crypto space. It has received thumbs from experts and senior players throughout the market. This support is attributed to the underlying logic and protection mechanism of encrypted tokens. It ensures that the tokens are held through time and hedges against market deflation when investors dump their holdings.
Since then âthe group has had a decidedly low profile. It has an active online fundraising page, but its website is offline. A Facebook page is âlikedâ by only nine people. Its Twitter account has zero followers and only one tweet from April, soliciting input for a survey on veteransâ concerns. A search of media databases shows no instance of the group being mentioned in news stories.â
The first thing to note is that Safemoon is not currently listed on any major cryptocurrency exchanges such as Binance or Coinbase. Due to this, the amount of liquidity is relatively low, meaning that technical analysis isnât as accurate as digital coins with high liquidity. The low liquidity of Safemoon means that large buy orders tend to boost price significantly â which, in turn, leads more people to buy into the âhypeâ.
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Its value has now plummeted by 99.99%, said cryptocurrency data website CoinMarketCap.
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Each major cryptocurrency has its own Wikipedia page providing an introduction to the cryptocurrency. Monitoring Wikipedia views has been seen to be a good way to track the number of new users learning about a cryptocurrency [22], and may offer different insights to the other online factors considered, being focussed primarily on less knowledgeable users.
SafeMoon is still a relatively new cryptocurrency compared to others, having only launched in March 2021.
It follows recent crashes brought on by Tesla making a u-turn on accepting Bitcoin as payment for its products and China clamping down on initial coin offerings, block exchanges and warned against speculative trading.
Cryptocurrency Prices Today: Bitcoin and Ethereum gain over 10% in the last week'Fast money' drives Bitcoin, ether to new record highsInfographic: Life cycle of a Bitcoin transactionJP Morgan predicts Bitcoin to reach $146,000 in long run and $73,000 in short-termCryptocurrency prices today: Bitcoin adds 6%, Ethereum gains 4%
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.