Safemoon Poised for Another Bull Run as Buyers Flock In
Safemoon has been correcting down its price levels since the last weeks of October when it tripled in value from $0.00000184 to $0.00000615. The 240% rally happened between October 21st and 28th. After it hit a high at $0.00000615, the token started shedding its value, dropping by around 34 percent.
At the moment, the downward correction has stalled, with the price teetering between $0.00000380 and $0.00000470. At this market value, Safemoon seems to be aiming for an upward trajectory. Should there be a rally, there is a possibility that it will hit and surpass the $0.00000560 price point – and head for $0.00000775.
If it breaches that resistance level, it is most likely to get the ATH at $0.00000970, representing a doubling of the current price point at $0.00000450.
Alternatively, if the sellers overwhelm the buyers at the $0.00000380 price level, the bull run will come to a screeching halt. Safemoon might then slide down gradually to the next support level, resting at $0.00000150. With that said, with the upcoming V2, Safemoon Exchange, and a possible Safemoon Blockchain year-end, we might see market cap and prices that rivals Shiba Inu and Binance coin.
On another note, this week Safemoon download reaches over 600K on both iOS and Android, and I think Safemoon just getting started.