SafeMoon Card Features Unveiled; Delayed Price Reaction To Follow?

Saif Naqvi
Source” Pixabay

SafeMoon holders can now use their SFM tokens and other cryptos to make purchases through the ‘SafeMoon card’ – a debit card like utility which is the latest product announced by the team.

Source: Twitter

The pre-launch waitlist for the SafeMoon card will go live in a few hours from publication, the link to which will be available at 2 PM UTC on the project’s Twitter account.

In a series of tweets, SafeMoon dissected 9 features that would be available on the card, the most prominent being instant fiat conversion from crypto. Other features include a Google Pay integration, support from the SafeMoon app, and a 2.5% transaction fee on payments. A virtual card service would be available on the app for those who do not wish to risk carrying a physical copy.

Source: Twitter

Users can also use the card to make online purchases on e-commerce platforms such as Amazon. The same was confirmed by Mr. Adult, SafeMoon’s marketing and strategy director, on the project’s official discord page.

Those familiar with the Binance Visa Card or Coinbase Card would have a first-hand experience of using their preferred crypto tokens as a valid means to buy goods and services. Both the aforementioned cards are powered by Visa Inc, the world’s second-largest card payment organization.

SFM Bullish Pattern To See Delayed Breakout?

Source: TradingView

While the announcement did not trigger any immediate change to SFM’s price, a bullish technical pattern was in play on the hourly chart and a delayed breakout was definitely possible.

Over the past couple of days, SFM has taken shape within an ascending triangle following the creation of higher lows and steady highs. The latest announcement, combined with a close above $0.001148 could launch a buying flurry during the next risk-on broader market. At the time of writing, SFM traded at $0.001017, up by 3% over the last 24 hours.