SafeMoon coin is a new player in the DeFi market, and it is already turning it upside down. SafeMoon is like DOGE, except with more innovations.
It is a BEP-20 token launched on March 8. They built the project on a Binance Smart Chain network. The team behind SafeMoon is on a mission to make the world’s first coin that does not get affected by bubble bursts and instead embraces DeFi. Let’s go into its price prediction for October.
Safemoon Price Prediction
Technical Analysis
Safemoon is not on any major cryptocurrency exchanges such as Coinbase. As a result, the liquidity in Safemoon can be below. Thus, making technical analysis less accurate than coins with high trading volumes. This means that large buy orders often lead to significant price boosts.
Today’s Safemoon price is hovering around the $0.0000014 level, so you can see how cheap this coin is relative to others. However, it slowly turns bearish due to the last spike occurring in late August. Since then, there has not been a significant movement which makes technical analysis difficult.
The price of safemoon tokens has been pretty much stagnant for the past few months. So if you’re looking to invest purely on speculation, this would be an excellent area to buy. Yet, there is little support around where the current price stands. Thus, providing optimal location and potential gain with low risk attached. Because despite its inferior liquidity and trading volume, these supports may not hold up at all times.
It’s interesting to see how things have changed for the Safemoon in just one year. The coin is trading pretty close to where it was at its all-time high before tumbling down over 87%. And with such low volume and only $3.5 million sold last 24 hours on CoinGecko alone. We can’t help but wonder if this could mean there might be an opportunity coming up soon?
Source: CoinGecko
SafeMoon Price Chart
The Safemoon price chart is unlike any other cryptocurrency. Or stock trading platform because it doesn’t have a long history of data to analyze.
READ ALSO: SafeMoon Price Prediction EOY 2021
So you’re looking to trade in the crypto space? You should know that Safemoon is one of many coins under consideration by significant brokers and exchanges. This means its listing could be soon, but there’s no guarantee. Each request gets vetted individually before adding them to their platform.
With more accurate price data, Safemoon investing will be much more accessible. This has the potential to lead towards increased participation and stability in markets. Besides, it could help people save time or money on their investments as well. Keep an eye out for these developments over the coming months just because they might affect how you invest going forward too.
SafeMoon Price Prediction October 2021
The SafeMoon cryptocurrency exchange rate forecast for October 2021 is $0.000031 at the beginning and ending with $0.000032.
SAFEMOON might grow by 2.93% in October 2021. The exchange rate will be $0.000031 per coin, with a maximum possible value of $0.000033 and minimum projections at $0.000031.