Currently, the price of Safemoon is hovering around the $0.0000014 level. This is around 90% down from the heights the coin reached in April 2021.
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WASHINGTON (AP) — The Biden administration is calling on Congress to pass legislation that would strengthen government regulation of stablecoins, a form of cryptocurrency that has soared in popularity in the past year.
A strong rebound off the 20-day EMA will suggest that sentiment remains positive and traders are buying on dips. The bulls will have to push the price above $55.09 to signal the resumption of the uptrend. The next target objective on the upside is $63.08.
The crypto prices today are trading in the red as Bitcoin, as well as the altcoins, have retreated after a strong week of rallies to new all-time highs.
Cryptocurrency prices can move in spectacular fashion, and there are a variety of triggers for such volatility. Here are a few of them:
After the flash crash, Bitcoin's level on Binance U.S. "almost immediately snapped back to where it had been," according to a Bloomberg report.
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Shortly after Bitcoin’s latest all-time high, Ethereum marked its own new all-time high last month when its price went over $4,400.
Dogecoin, founded in 2012 as a joke, has drawn widespread attention from high-profile personalities such as billionaire entrepreneur Elon Musk and rapper Snoop Dogg.
Within its first eight days of existence, DogeZilla has been said to have grown into a super microcap of $500million from just $50,000.
SafeMoon today trades around 0.0000027 a coin with a market capitalization of about $1.6 billion, sharply lower than its high of almost $6 billion in mid-May, according to CoinMarketCap.
While the recent price history suggests that a meaningful rebound is imminent, it is crucial to pay attention to Bitcoin’s interaction with the 50 four-hour moving average at $62,000. Any increase in selling pressure that leads to a break of the support level could invalidate the optimistic outlook.
This cryptocurrency network has a relatively smaller footprint, and there are several reasons why it is more appealing as an investment option. First, it requires relatively lesser energy to complete transactions using the Cardano network, unlike the much larger bitcoin network. This means the transactions are not only faster, but they’re cheaper as well. The platform also claims to be more secure and adaptable, and they are consistently improving the network’s development to remain ahead of hackers.