- The price trend of SafeMoon coin is in a downtrend this month due to the overall market
- The number of holders has increased this month, while there has been so much fear in the market
- The 24-hour volume in SafeMoon is $17.317 Million
The daily technical chart of SafeMoon coin drops below the EMA-20 and support level. According to the pivot level, the essential support level is $0.000003185. However, if it does move higher, the key observational resistance is $0.000005003. In addition, the chart also has a Doji candlestick pattern, showing neutral movement with high reliability.
The exponential moving average (EMA) composed of 20-EMA serves as reliable support for currency price changes. Investors can observe that the price moves below the yellow line, ensuring a downward trend in Safemoon until the price stays below the EMA.
Thus, the CCI indicator gave a (bearish) signal with -146, projecting a sell signal in the coin. Investors may observe an inclining slope from -270 to -146. It may surge in future trading sessions.
Volume (2.21M) was lower than the 20-day moving average (6.28M). Traders are guiding low buying pressure to bring their price levels into positive territory. Investors can also observe sufficient volume on the chart, which indicates that a big move is expected soon.
SafeMoon Coin Dominates The 1’st Position On Binance Smart Chain
SafeMoon coin occupies the top position of 2.395 million holders on the Binance Smart Chain, which is much larger than BNB, Pancake, Ethereum, Doge, and ADA.
What is SafeMoon Coin?
The SafeMoon protocol is a decentralized financial token (DeFi). According to the SafeMoon website, SafeMoon has three functions during each exchange: reflection, LP acquisition, and burning. The SafeMoon protocol is a mixture of RFI tokenomics and automatic liquidity generation protocol. According to an article, SafeMoon plans to develop non-fungible token exchange (NFT) and charity projects, and encrypted education applications.
Through SafeMoon Swap, token holders will get more SFMS based on the number of tokens they own. This can be as high as an 80% annual interest rate, which is amazing compared to traditional interest accounts. SafeMoon Swap will gain value over time, thanks to its strategy of destroying coins, turning them into a deflationary digital currency.
Due to its growing popularity, SafeMoon Swap has an ambitious roadmap. SafeMoon Swap will be expanded to include NFT markets and coin launch pads, allowing users to create their cryptocurrency platforms in the following ways. They hope to list on major exchanges before the end of 2021, launch decentralized exchanges (DEX), and increase their partnerships. SafeMoon was launched on March 8, 2021.
How Is Safemoon Coin Unique?
The SafeMoon white paper pointed out that a big problem in the emerging DeFi industry is high APY LP farms, and novices cannot easily enter this field. Static rewards (rewards are determined based on the number of tokens exchanged) to eliminate any pressure placed on the tokens when the tokens are sold.
In addition, the white paper states that it encourages SafeMoon holders to hold their tokens or HODL for a longer period. SafeMoon’s automatic LP also increases the stability of the agreement by providing a minimum price/buffer for token holders. According to their white paper, SafeMoon’s manual destruction strategy will also help SafeMoon’s token holders in the long run.
How is the SafeMoon network protected?
Safemoon’s white paper has the following plans for its protocol security:
The developer burned all the tokens in Dev Wallet before release.
There was a release on DxSale.
- LP collapsed in DxLocker for four years.
- Each exchange had one LP hanging on PancakeSwap.