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What is SafeMoon? The new cryptocurrency and how it compares to DogeCoin and Bitcoin

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SafeMoon doesn't tout itself as a cryptocurrency but instead as a DeFi token, a decentralised finance token. DeFi’s aim is to bring about disruption to the financial world and enable people to lend in peer-to-peer networks without needing a physical bank.

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Binance has become a favorite among traders because of its low trading fees. Exchanges charge trading fees for actions such as exchanging currency and margin trading. Binance fees are structured in levels so that the higher volume you work at, the less you pay per trade. In addition, Binance offers fee reductions for referrals of new users.

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    The origins of SafeMoon can be founded in a recent couple of years when a pseudonymous person created a currency on the same lines as Bitcoin and Ethereum, and that would run on blockchain and ensure maximum transparency and security as the (decentralized finance) DeFi token at the same time simultaneously being scientific was considered highly incredible and brought a lot of turbulence in the initial phase of price offer! Moreover, according to the latest news, SafeMoon plans to develop NFT exchange and charity projects and crypto educational apps. Before we start with actual SafeMoon price prediction, let’s check coin overview with details. SafeMoon Overview Cryptocurrency SafeMoon Ticker Symbol SAFEMOON Price $ 0.000004 Price Change 24H -3.52% Price Change 7D -11.64% Market Cap $2,234,190,363 Circulating Supply 585,536,366,402,812 SAFEMOON Trading Volume $15,129,179 All Time High $0.00001399 All Time Low No Data SafeMoon ROI +9413.31%

    Income tax: Profits and losses from cryptocurrency transactions must be shown in a non-incorporated business’s accounts and are taxable/allowable under conventional income tax laws.
    Still, instead, it allows users access browser features where crypto charts will also appear within its built-in web browser. As more Bitrise utilities are released, more Shiba Inu, Dogecoin, and Safemoon members will join.

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    Bitcoin was trading 1.5% lower Thursday morning. The price was around $59,000 per coin.

    As of 8am ET on Thursday morning, it was slightly up in early trading. Bitcoin, however, was down under $65,000 at 8am ET, according to CoinBase.
    "Brian's work for Binance.US has been invaluable and we hope he will continue to be an integral part of the crypto industry’s growth, advocating for regulations that move our industry forward," Zhao Tweeted on Friday.

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    SafeMoon stands from "Safely to the Moon", a phrase that was adopted by Redditors about DogeCoin which refers to the price flying upwards "as high as the Moon".

    SafeMoon price has made some astounding progress in October, rallying over 145% from the lowest open in its history on the first day of October to its present new two-month high. After hitting the required $0.0000024 level above the Cloud, SafeMoon spiked on Monday for a gain of over 22%. And it is likely to continue a move higher before facing any resistance.
    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.

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    El Salvador's move to adopt Bitcoin is the first time Bitcoin has been adopted as a legal tender in a sovereign nation.

    Charlie Barton, an investment specialist at comparison site Finder, warned in mid-May: “The performance of Polygon has been extremely strong recently, achieving 10,000% growth in the last year.”
    Analyst Ken Goldman cites concerns over the imitation-meat company's wider-than-expected third-quarter losses.

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Squid was billed as a token that could be used for a new online game inspired by the Netflix series - which tells the story of a group of people forced to play deadly children's games for money. The game was due to go live this month.

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A layer-one smart contract platform, Fantom, is another take on smart blockchain commonly represented by Ethereum, Solana and the likes. However, its compatibility with the ERC20 standard ensures that users can purchase an Ethereum-compatible FTM token, which can be converted to a native FTM compatible token once they initiate a transfer to their wallet.

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The worldwide crypto market capitalization is currently $2.90 trillion, decreasing 1.25% over the last day. (Shutterstock)

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If the price turns down from the resistance line of the channel, the pair could drop to the support line. This is an important level to keep an eye on because a break below it will suggest a possible change in the short-term trend.

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