Not so safe? SafeMoon’s parabolic rally isn’t sustainable, traders warn
Traders say the Safemoon rally is not sustainable as the token sees massive volatility. SafeMoon, the token on Binance Smart Chain widely recognized as the Tiktok meme coin, is seeing massive volatility after its massive gains in the past week.According to the data from Dex.Guru, which tracks alternative cryptocurrencies on various blockchains, the price of SafeMoon dropped by nearly 50% in the last two days from $0.0000074 to $0.0000045.Does the SafeMoon rally have any strength?SafeMoon is a cryptocurrency on Binance Smart Chain that started out at a low market cap at around $50,000. The....
Related News
XRP has given up a serious percentage of its recent gains, with the cryptocurrency’s parabolic rally fading and showing few signs of strength as sellers rise with full force. The cryptocurrency’s parabolic rally came about shortly after it plunged to lows of $0.23 before rallying to the top of its multi-year trading range around $0.30. […]
Bitcoin price dropped below the parabola on the 12-hour timeframe but traders aren't calling for a big correction yet. Over the weekend numerous traders pointed out that Bitcoin (BTC) price broke its parabolic uptrend which had dated back to September. Technical analysts are bracing for a pullback as the dominant cryptocurrency eyes consolidation.Bitcoin could still see a strong recovery after the weekly close if there is a continuation of the rally. But it would need to quickly re-enter the parabola or risk a potential downward correction.Traders pinpoint $15,500 as the key level to....
Bitcoin and the entire cryptocurrency market have been caught within a parabolic advance as of late, with BTC leading the charge as altcoins follow its lead Where the cryptocurrency trends next will undoubtedly depend on whether or not bulls can maintain control of its price action as it approaches $30,000 This rally is nothing short of parabolic, with Bitcoin tapping a half a trillion-dollar market cap yesterday evening One veteran trader is now pointing to […]
The Water Project, Inc., a nonprofit organization providing sustainable water projects to sub-Saharan African communities, has launched a new bold initiative, with the help of bitcoin. The organization has introduced a new program named "The Water Promise," which combines high-tech remote monitoring with local repair teams to ensure that water is reliable and self-sustainable in the long term. Each bitcoin donation will be allocated to one of 42 new sensor-enabled water projects in Kenya managed by the organization. The Water Project team is looking for donations as little as 0.196 BTC to....
Bitcoin price surpassed $17,000 for the first time since December 2017. The price of Bitcoin (BTC) surpassed $17,000 for the first time since December 2017, continuing its current uptrend. The rally comes after BTC broke out of the previous parabola, which initially caused concerns.Three factors likely contributed to the ongoing rally: new parabolic trend, resilience above $16K, and Bitcoin absordbing whale selling pressure.New parabolic trendOn Nov. 16, Cointelegraph reported that analysts found the Bitcoin price dipped below a parabola dating back to September.Though the trend seemed....