SafeMoon Price Under Selling Pressure as Investors Book Profits After 300% Rise in October

Vinod Dsouza

SafeMoon saw a spike of +300% in October 2021 giving investors an ample amount of profits to hold on to. However, the coin is seeing a slump since the start of November as investors seem to be indulging in profit bookings.

Since November 1, SafeMoon is mostly trading in red and is slowly shedding its gains of October. The coin is attracting selling pressure as several investors booked profits.

Its price was in a downward trajectory from July to September but October saw its fortunes change. SafeMoon’s price had hit the $0.00000700 mark last month but the sell-offs saw the coin slump to $0.00000380 at present.

The coin has not attracted buying pressure yet as profit bookings would take place for a few more days down the line. Investors fear taking an entry position now would make their assets slip further and are waiting for the appropriate time to take an entry position.

Entry Position in SafeMoon?

SafeMoon is all set to take things to the next level with an upgrade to V2. The investors’ community is anticipating the launch and believe it will do wonders to its price.

The DeFi project is aiming for adoption and additional use-cases with its upcoming launch of V2. The development will give the token an opportunity to expand its tech and security, and in return attract more investors.

The upgradation will also enhance the quality, security, and accessibility of the token. In conclusion, SafeMoon is prepping up for the future and will position itself as a top player in the crypto sphere.

SafeMoon has not announced the launch date of V2 yet. Its price could propel after the upgrade is implemented. At present, SafeMoon’s price is on a discount and adding up more bags in the coming days will not be ruled out.

At the time of publishing, SafeMoon was trading at $0.00000380 and is down -4.5% in the 24-hours day trade.