Its competitors, Dogecoin and Shiba Inu faced several lows for months and years straight but are at a different position now. SafeMoon could walk the same path as its competitors and would find a ‘breakout’ all of a sudden.
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One of the key principles of smart investing is: Never invest in anything you don't understand.
Typically, meme coins don’t gain on fundamentals. Instead, they are usually driven by an internet-based joke.
As per CoinMarketCap, the value of SafeMoon currency is 0.000003967 US dollars, with a market cap of 2.2 billion US dollars. The digital currency has encountered a consistent expansion in its costs since its launch in the market.
If you’re interested in trading the major cryptocurrencies, whether long or short term, there are many factors to consider. Do you have a high risk tolerance; are you open to volatility? Do you want to add more cryptocurrencies to your portfolio, or do you want to progress to a new asset class in time? Do you want to go for a day trading strategy, or do you prefer position trading for a longer-term approach? The following tips are key:
The buyers will now attempt to push the price to the resistance line of the wedge. If bulls thrust the price above the wedge, the bullish momentum could pick up and the LUNA/USDT pair may reach $62.59.
It will impose a 10 percent penalty tax fee on sellers and redistribute five percent of this tax to other people who already own the cryptocurrency.
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Some investors have predicted even bigger gains for Bitcoin, despite continued criticism of the cryptocurrency by JPMorgan Chase (JPM)CEO Jamie Dimon, who has called the coin "worthless."
Meanwhile, even the most enthusiastic bitcoin evangelists are realizing that a retooling is in order. Michael J. Casey, a senior adviser for blockchain research at MIT’s Digital Currency Initiative, recently wrote about how the crypto-winter has arrived, but it may lead to better things down the line:
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And while proponents tout cryptocurrencies as potentially lucrative alternative investments, few serious financial professionals view most coins — with the important exception of Bitcoin and a few others — as suitable for anything other than pure speculation.
An OpenSea employee used insider knowledge to buy tokens before they appeared on the front page. Alexis Ohanian showed off the NFT he bought for Serena Williams at the Met Gala
An employee was accused of buying digital art that would later be promoted on the homepage.
Here's everything we know about SafeMoon and why it could be the next big cryptocurrency on the market. Read More Related Articles What is Dogecoin? - The cryptocurrency that continues to grow Read More Related Articles What is Ethereum - the cryptocurrency everyone is trying to cash in on What is SafeMoon?
The growth of SafeMoon, coupled with its online slogan, has drawn comparisons to the surge in popularity of another cryptocurrency Dogecoin.