Today at noon, SAFEMOON’s price rose 18% to $ 0.00000313, now the highest in a month and a half. However, by the evening it dropped to $ 0.00000295, as a result, in 24 hours the worth has popped 12%. SafeMoon is an internet meme token resembling Dogecoin and Shiba Inu. It was created on Binance Smart Chain.
The cost of the token has jumped 37% only in a week, which is one-third of the growth in a month, which was 95%. Thanks to this huge rise, this token is considered one of the best in the cryptocurrency space. However, it’s still lagging behind the broader cryptocurrency market, as the price is only reaching new record lows, while other cryptocurrencies are rising to new historical highs. Although the risk of deterioration is small, SafeMoon depends on the price action of Bitcoin. If Bitcoin makes little profit and furthermore, on Saturday and Sunday experiences additional selling pressure, SafeMoon could have similar weaknesses.