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The crypto market has been on a slump in the past day. However, this trend has not prevented some altcoins from going in a reverse trend and making gains. Safemoon, one of the popular meme coins, has defied odds and made double-digit gains in the past 24 hours to go to new high levels.
Safemoon is trading at $0.00000238 at the time of writing after a 15.5% gain in 24 hours.
SAFEMOON Price Analysis
The token did not have a blissful month like the majority of the crypto market did. While most coins created massive gains during this period, safemoon failed to do so, and instead, it consolidated at previous levels or went to lower levels.
Currently, the broader market is dipping, given that BTC is back to trading at around $46K. However, the token has not mimicked this dip, and contrary to what other altcoins are doing, the coin is currently on one of the greatest upswings this month.
If the uptrend continues, safemoon could manage to break past the higher resistance of $0.00000254. The coin has been severally rejected at this level, and if it finally manages to break through and hold, we could witness a massive bull run.
There is a chance that safemoon could retreat towards low levels, in which case the lower support of $0.00000186 could be retested again. Currently, market support is not very strong, and if buyers fail to show support for the meme coin, retreats could be recorded in the coming days. However, strong market support at this point could take bulls further, and safemoon could retest $0.0000030.
The coin has been causing a buzz this week on crypto Twitter because of the upcoming SAFEMOON wallet. The safemoon wallet is a project that the platform’s CEO, John Karony, has been working on it for a while after announcing its development in June. The wallet can also be used to store dogecoin. The wallet is expected to launch in three days.
Where to Buy SAFEMOON
If you want to buy safemoon, you can create a cryptocurrency exchange account on the following platforms:
One of the leading platforms where you can buy safemoon is eToro. eToro is a reliable exchange platform that supports a wide range of cryptocurrencies and trading pairs. eToro also charges competitive trading fees and commissions.
You can also purchase safemoon from BitMart. This is also another leading crypto platform that also supports a wide portfolio of cryptocurrencies. BitMart is also one of the leading exchange platforms and offers high liquidity.
Looking to buy or trade Crypto now? Invest at eToro!
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