Safemoon Price: What Makes It Keep Diving in 2022? How Will It Enfold Next?
2022-03-30 17:22:47
Is Safemoon A Good Investment In 2022?
Recently, as Ryan Ariga, the SafeMoon's global head of product, publicly resigned on Twitter, much controversy was sparked around Safemoon. Also, as it can be seen from the project's data, the performance of Safemoon has been deteriorating. Indeed, the price of Safemoon has been plummeting over the past 30 days, while its rival, Bitgert, has soared over the same period. In fact, Safemoon declined for almost all of 2022 so far. As we all know, the SafeMoon price has risen by over 140,000% since its birth in the early 2021, which shows the huge momentum it has had. As an altcoin which means it is highly receptive to the wider crypto market’s movements. According to technical analysis, the historical Safemoon trading data from 2021 shows that Safemoon has scored 55 at the long-term holding average. Its price movement gives investors a reason to remain neutral over the long term.
Safemoon Price Overview Right Now
According to data from Gate.io, the only top exchange with 1400+ coins, the current price of Safemoon is $0.000002100, with a total market cap of $335,380,445.27 and an average daily trading volume of $677,257.84 over the past 7 days. Safemoon was trading below its 7-day average for the past 24 hours at 8,701.66.
Why have Safemoon Prices Been Falling In 2022?
According to experts, Safemoon might drop in the coming days and keep plummeting in April. How did this happen? There are a number of factors that have caused Safemoon to perform so badly, one of which is the collapse of the market. Besides, it may have something to do with the poor product delivery. The roadmap of the project has almost stalled with just two major products launched over the past year. That’s why many other younger projects are outperforming Safemoon such as Bitgert and Centcex. In addition, the Safemoon project is also facing class-action lawsuits from investors. The Safemoon team and some celebrities were sued for misleading publicity, resulting in Safemoon investors losing money, which had a negative impact on the performance of Safemoon.
Safemoon Price Prediction Through The Rest Of 2022?
Actually, different from any other cryptocurrencies,the Safemoon price is derived by how many people are buying and selling the coin. If large amounts of investors choose to exit their market positions, then the price will fall. If large numbers of people buy the coin then the price goes up. According to news, Safemoon announced in February that it had partnered with EverGrow coin (EGC) which is another emerging utility token. Investors will be able to purchase EGC through the SafeMoon wallet, which makes the wallet even more useful for users. However, it is really hard to predict how SafeMoon will develop next and it will likely depend on how the broader crypto market reacts vs how many people realize the utility of the project.
Recently, as Ryan Ariga, the SafeMoon's global head of product, publicly resigned on Twitter, much controversy was sparked around Safemoon. Also, as it can be seen from the project's data, the performance of Safemoon has been deteriorating. Indeed, the price of Safemoon has been plummeting over the past 30 days, while its rival, Bitgert, has soared over the same period. In fact, Safemoon declined for almost all of 2022 so far. As we all know, the SafeMoon price has risen by over 140,000% since its birth in the early 2021, which shows the huge momentum it has had. As an altcoin which means it is highly receptive to the wider crypto market’s movements. According to technical analysis, the historical Safemoon trading data from 2021 shows that Safemoon has scored 55 at the long-term holding average. Its price movement gives investors a reason to remain neutral over the long term.
Safemoon Price Overview Right Now
According to data from Gate.io, the only top exchange with 1400+ coins, the current price of Safemoon is $0.000002100, with a total market cap of $335,380,445.27 and an average daily trading volume of $677,257.84 over the past 7 days. Safemoon was trading below its 7-day average for the past 24 hours at 8,701.66.
Why have Safemoon Prices Been Falling In 2022?
According to experts, Safemoon might drop in the coming days and keep plummeting in April. How did this happen? There are a number of factors that have caused Safemoon to perform so badly, one of which is the collapse of the market. Besides, it may have something to do with the poor product delivery. The roadmap of the project has almost stalled with just two major products launched over the past year. That’s why many other younger projects are outperforming Safemoon such as Bitgert and Centcex. In addition, the Safemoon project is also facing class-action lawsuits from investors. The Safemoon team and some celebrities were sued for misleading publicity, resulting in Safemoon investors losing money, which had a negative impact on the performance of Safemoon.
Safemoon Price Prediction Through The Rest Of 2022?
Actually, different from any other cryptocurrencies,the Safemoon price is derived by how many people are buying and selling the coin. If large amounts of investors choose to exit their market positions, then the price will fall. If large numbers of people buy the coin then the price goes up. According to news, Safemoon announced in February that it had partnered with EverGrow coin (EGC) which is another emerging utility token. Investors will be able to purchase EGC through the SafeMoon wallet, which makes the wallet even more useful for users. However, it is really hard to predict how SafeMoon will develop next and it will likely depend on how the broader crypto market reacts vs how many people realize the utility of the project.
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