Meme coins have greatly benefited from the recent crypto market rebound. Dogecoin, Shiba Inu and safemoon have all been heading to the moon and are striving to create new all-time highs. Safemoon has made double-digit gains in the past 24 hours, and it is currently among the best gainers in the crypto market.
The coin is trading at $0.00000186 at the time of writing after a 15.2% gain in 24 hours.
SAFEMOON Price Analysis
Safemoon has made some gains over the past month, attributed to the ongoing market rebound. However, the coin is among the assets that have failed to maintain the gains made this month.
Safemoon’s uptrend in the past 24 hours has been attributed to market support, given that BTC and ETH have managed to make more gains. This market support has brought the coin to $0.00000186, with the next resistance lying at $0.000002. This level could easily be achieved if the broader market’s bullish sentiment continues.
On the other hand, the token could fail to make additional gains, in which case it could go lower and retest the lower support of $0.0000016. Over the past few days, safemoon has gone below $0.0000015 because of lack of buyer and market support; hence we could see such levels being retested again.
The coin is a cryptocurrency whose creators aimed to solve some of the major issues other blockchain networks face. The main issue that safemoon aims to solve is price volatility. This issue is solved by discouraging day trading by rewarding long-term holders of the coin with a 10% fee on any sale made.
Where to Buy SAFEMOON
If you want to buy SAFEMOON, you can create a cryptocurrency exchange account on the following platforms:
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eToro
eToro is one of the trusted platforms where you can purchase cryptocurrencies. eToro offers social copy trading services, where a new trader can copy the trading strategies of expert traders. eToro also charges low trading fees and offers other user-friendly features.
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BitMart
You can also buy SAFEMOON from BitMart. BitMart is also another trusted cryptocurrency exchange platform. It also supports a wide range of cryptocurrencies and trading pairs, making it suitable for investors who want to diversify their portfolios. BitMart also charges low trading fees and commissions.
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