With its bullish structure now invalidated, those looking for long positions will need to eye support levels at $2.44 and $2.2. Should the crypto market remain bearish (with BTC having a probability of revisiting $60-62K), these levels are likely to come into play.
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The growth of SafeMoon, coupled with its online slogan, has drawn comparisons to the surge in popularity of another cryptocurrency Dogecoin.
Even with its usual ups and downs, Bitcoin has mostly been on the rise following a drop under $30,000 in July.
There was also a big debate on Safemoon tokenomics. Most of the competing coins have a more attractive and innovative tokenomic than Safemoon. While the Bitrise coin has an automated redemption and burn process, Safemoon burns manually. This means that the liquidity regulation of the Safemoon token is less transparent.
When that time of reckoning arrives, only the early investors would have enormous profits. If you want to be one among the lucky ones, now is the chance to get on board and hold on for the important day. Every coin has its day and SafeMoon is yet to bask in the limelight. Its day to shine in the sun would arrive soon and early investors would hold on to fistful of dollars.
It hasn't yet been recognised by the major cryptocurrency sites such as Coinbase but why did it get so popular?
The official site records PancakesWap as the essential trade to purchase the tokens. The initial step is to make a trusted wallet. Then, one needs to change BNB over to a smart chain employing the trust wallet and amplify SafeMoon. Use Pancakeswap to change Binance Smart Chain over to SafeMoon. Post trading the transaction, the wallet will obtain SafeMoon.
The SQUID token skyrocketed to a high of $2,861.80 before plunging to zero around 5:40 a.m. Monday. The meme coin's market capitalization hit an estimated $2.2 million, according to CoinMarketCap.
“Where digital assets land, at the end of the day … will be driven in part by regulation, both domestic and international,” Former SEC Chairman Jay Clayton recently told CNBC.
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Eichengreen, Avgouleas, Poiares Maduro, Panizza, Portes, Weder di Mauro, Wyplosz, Zettelmeyer
After a year of gains and record highs, crypto currencies are enduring a turbulent time with unpredictable price changes.
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