The SafeMoon price climbed 46,533% from the launch to peak at $0.00001399 on April 20th before falling back down to its original value of $00000361 by May 2nd, when it rebounded once again.
But this time feels different. It feels like a bubble. The fever in the post-Thanksgiving moonshot ran hotter than we’d seen before. We also began to see a robust supply response.
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SILVER SPRING, Md. (AP) — The chairman of the Securities and Exchange Commission said that investors need more protection in the cryptocurrency market, which he said is “rife with fraud, scams and abuse."
It is a meme coin in the same sense as Shiba Inu, but has failed to live up to its promises. SafeMoon is the perfect example of why having a product first is what matters. Investors bought into the token thanks to its promises, and now the token is plummeting. It is a story warning investors of falling for grandiosity.
The hype surrounding popular memecoin Dogecoin had appeared to diminish recently as new altcoins took centre stage.
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Cryptocurrency investor discusses bitcoin back in 2011, before it earned him a life of luxury
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The token was trading at $1,157.00 Monday morning - 5.3% lower compared to actual Tesla stock, which closed at $1,222.09 on Friday.
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Another property of Safemoon which has attracted wide criticism is the ownership pattern of the current supply of the token. A large proportion of Safemoon’s total liquidity is owned by members of the founding team. Although these funds are in a so-called lock-up, such concentration of ownership is often a cause for serious concern in the crypto space. In part, this concern is because of the influence that major holders—called whales—have over price movements when they sell.
FTX's Sam Bankman-Fried said solana was one of the few blockchains with a roadmap to scale million of transactions.
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
Investors that may have once dismissed it, ought now to consider taking part in it
As a result of the relationship between supply and demand, the price of a cryptocurrency can be manipulated to an extent. A concerted effort to match all the open orders on a particular crypto across several exchanges will create an artificial shortage.