SafeMoon spiked close to +445% in October 2021 and reached a new level last seen after its all time high. The upward swing made investors reap all the profits as it delivered stellar returns in just 30-trading days. Nonetheless, SafeMoon began its downward trend in November as investors indulged in profit bookings.
The large sell-offs and profit bookings saw the token dip every day and is down -27.2% since two weeks. The corrections are healthy and is normal for any token to slump after rising high as investors book their profits. Also, from October 30 to November 22, SafeMoon has shed -52% from its trade.
The dips are worrisome to investors as the coin is showing no signs of retracement since more than two weeks. Investors are not getting in as they’re waiting for further dips. This situation makes SafeMoon attract selling pressure, its trouble would worsen as it gets no new investors into its fold.
However, SafeMoon is now at a crucial zone and is holding on to its resistance levels of $0.00000310. The coin is expected to comeback after facing corrections and could see an upswing of around 25 to 33%. The upward move could attract more investors into its fold and propel its price to new monthly highs.
SafeMoon is all set to be upgraded to V2 and the development is much-awaited in the crypto sphere. Investors believe V2 can help its price shoot up and would reward early investors handsomely.
The idea is to accumulate as many tokens as possible during the dip and wait for it to bear fruits after it moves to V2. The V2 upgradation would strengthen the tokens prospects and would put it on a bigger platform in the crypto sphere.
”3 reasons why #SAFEMOON V2 is the Evolution.
Upgraded contract implementing a 1000:1 consolidation
Increased quality, security and accessibility of SafeMoon
Preparing us for a warp speed future.”
The team revealed that V2 will be rolled out soon but did not give a specific timeline of its launch. CEO John Karony revealed in his AIBC speech that he no longer gives timelines but would release it when its ready.
SafeMoon at the time of publishing was trading at $0.00000307 and is down -5.5% in the 24-hours day trade. The token is moving as per the market conditions and a next bull run can make its price reach new highs. The coin is up +33.8% since the last 30 trading days and has mostly maintained a positive momentum with no drastic dips.