Decentralized Finance

Safemoon Price Going Parabolic, Will It Have A Doge Rally?

Highlights

    Safemoon price yet again initiated a bull run, similar to the that of the previous rally

    With the notable change in the price, many expect the rally will be similar to that of Dogecoin

Will Safemoon Price hit $0.001?

Safemoon prices rose like a giant in recent times, surging from $0.0000009 to $0.000014 in just five days. Woefully, the price tanked to some extent and regained the momentum and initiated uptrend soon. 

The mammoth rally of Dogecoin began the hunt for yet another asset which may have a similar rally in coming days. However, many believe Safemoon may be considered as it is gaining huge attention from different sectors. As a result, Safemoon crossed Bitcoin in terms of the number of watchers according to coinmarket cap.

safemoon price chart

The safemoon price in the past couple of days has gained an extreme bullish momentum and hence jumping towards north at greater pace. The price is going completely parabolic and may cross the all-time high very soon.

Also Read: Is Safemoon Legit? Here’s What Popular Crypto Analysts Say!

Coinmarket cap has listed the token and placed it under the auditing process. And hence after the audit the legitimate market cap, circulating supply and the exact ranking will be updated by the platform. 

One of the strategies applied by the Safemoon ecosystem to compel the traders to hold the token is to charge high for a ‘Sell’ transaction. Usually exchanges charge a maker or a taker fee for any transaction. But in case of Safemoon, the platform charges a whooping 10% transaction fees during a sell trade.

As the price is comparatively low, 10% may not be too huge, yet it matters when compared to the other platforms. Hence the traders may hold the asset until the next leg up, where-in the price is expected to hit and surpass its ATH at $0.000014 very soon. At the time of writing the Safemoon price is $0.00000958 with a jump of 18.85$. And maintaining the bullish rally the price may also jump to $0.001 soon.

Also Read: Dogecoin Booster Elon Musk Warns DOGE Supporters to Invest With Caution!

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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