9/3/2023 0 Comments Safe moon price tracker![]() ![]() Similar to its hedge-fund obliterating brother WallStreetBets – which helped to pump the price of Gamestop shares earlier this year – people try to make money on SSB together.ĭenizens of SSB and its sister subreddit, CryptoMoonShots, regularly post cryptocurrency tokens that posters say will “x50”, “x100” and help “take you to the moon”. Like Gabe, I discovered Safemoon back in March, after browsing the cryptocurrency subreddit SatoshiStreetBets. When these extremely low-valued tokens begin sucking in starry-eyed retail investors like Gabe, the peanut-sized price means the token can “reach 10x and higher relatively quick”, says Jack. Jack, a trader and market analyst with a substantial Twitter following, explains that “these assets hit the market at extremely low valuations of sometimes less than $100-200k market caps” – AKA, they’re cheap.īecause of this valuation – Safemoon’s current all-time-low price on Coingecko is $0.00000004 per token – there is theoretically loads of room for the token’s price to grow. Safemoon has had the most attention, but there are others too, like Hoge, Elongate (named after the balding Tesla daddy) and Bonfire. While all investments involve an element of risk, Gabe is part of a new crypto investor cohort who toss small investments into what are called deflationary tokens – or, if you like, meme or “ shitcoins”, because they don’t have much real-life use beyond making a few people very rich. ![]() “Hindsight is always a bitch, because you look back thinking, ‘I could have thrown thousands in,’” he says. To spell that increase out in luminous green dollar signs: if Gabe had held on to his $40 investment in Safemoon from early March, it would have been worth tens of thousands of dollars when the value peaked on the 21st of April. This surge is significant because historically, a price correction tends to occur whenever the count of new Litecoin addresses crosses the 350,000 mark, as noted by Ali Charts.Safemoon, however, leaped 23,225 percent, from $0.00000004 on the 14th of March, 2021 to its current all-time-high of $0.00000933, on the 21st of April, 2021. That’s 27 times more than Bitcoin, in a little over a month. In recent times, over 690,000 new LTC addresses have emerged. Ali JUnusual Network Activity Sparks Sell-Off TheoriesĪccording to Ali, the idea of a “Sell the News” event stems from an observed increase in new Litecoin addresses created on the network. More than 690,000 #LTC addresses were recently created, suggesting the upcoming #halving could be a “sell the news” event. #Litecoin | Each time the number of new $LTC addresses surpassed 350,000 in the last five years, a significant price correction followed. Particularly, Renowned on-chain analyst, Ali Charts, has introduced a novel perspective to the halving discourse, with his theory that the much-anticipated event could turn out to be a “Sell the News” event. ![]() However, predictions surrounding the event are veering off the usual path of price appreciation to include a potential coordinated sell-off. Slated for early August, the halving has attracted considerable attention from the cryptocurrency community. As the crypto market gears up for one of its major network events, the Litecoin (LTC) halving, investors and analysts are peering into the crystal ball of market trends to try to predict the outcome. ![]()
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