Like most meme cash, SafeMoon (SAFEMOON) was absolutely relying on elevated hype and social media buzz to “moon”. However ever because the hype began to die out, the meme coin has been tumbling and with sentiment in crypto wanting very sluggish, extra losses might come within the close to time period. Listed below are some notable highlights:
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At press time, SAFEMOON was buying and selling at $ $0.001682, down almost 5% in lower than 24 hours.
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After preliminary hype in 2021, the risk-off sentiment by traders in crypto has seen a lot of that die out.
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There have been efforts to consolidate circulating provide in a bid to assist push the worth up however to date it is tumbling.
Knowledge Supply: Coinmarketcap.com
SafeMoon (SAFEMOON) – Value evaluation and prediction
SafeMoon has tried to rid itself of the meme coin tag by including just a few underlying options into its ecosystem. There was the SafeMoon pockets for instance that launched on iOS and Android. However this has completed nothing to extend investor urge for food in the direction of this token.
Though there was some rally in the beginning of the yr, the final pattern this month has pointed largely downwards. If this downward pattern will reverse, SAFEMOON wants to search out some respectable upward trajectory to check overhead resistance at $0.002.
However this appears extremely unlikely, particularly now that many traders are taking minimal danger. Because of this, we anticipate SAFEMOON to maintain falling within the coming weeks.
Do you have to purchase SafeMoon (SAFEMOON)
We’re at a stage within the crypto market the place worry is essentially the most dominating issue amongst traders. As such, that is maybe not the most effective time to take dangerous bets.
By being a meme coin, SAFEMOOM is a dangerous speculative asset. It is not one thing you need to maintain throughout occasions of immense market volatility. So, it might be greatest to attend till sentiment available in the market improves earlier than shifting in on the coin.