If you are not familiar with the ‘new’ cryptocurrency SafeMoon, perhaps this is a good opportunity to simply go to your next trading analysis article and rest assured that you will not become involved with this highly speculative endeavor. Now that you have chosen to remain, please pay attention to these words – SafeMoon/USD is a pure wager and one that may see your entire cash allotment wiped out that has been earmarked for the bet. Again, SafeMoon, even in the world of cryptocurrency, should be considered only by traders who completely understand they can lose their money quickly.
The above sentence is not written as a psychological ploy to create an opposite effect. The month of August saw SafeMoon gain more than twice its value from the 21st until the 28th. Then to put it into perspective, as the month of August comes to a close, SafeMoon has lost plenty of value going from a high of nearly 0.000003543 at its apex on the 28th to nearly 0.000002340 as September gets ready to begin.
There has been a three-month chart posted here instead of the standard one-month technical chart to offer further insights regarding the volatility SafeMoon/USD delivers. And it should be noted that the highs seen in the three-month chart are not the all-time highs for SafeMoon/USD, which actually occurred on the 21st of April, soon after SafeMoon had been released for trading and during a period of broad cryptocurrency exuberance.
SafeMoon has many concerns regarding its value and one of the main problems being dealt with at this moment has been the ‘organizational’ inability to release a promised cryptocurrency wallet. Plenty of the reasons that SafeMoon rocketed in value from the 21st of August until the 28th was anticipation via speculative buyers that a cryptocurrency wallet was about to be offered. However, SafeMoon failed to deliver the wallet, which would have effectively allowed more efficient trading of SafeMoon/USD. Twitter and Reddit have been swamped with a swarm of accusations by critics of SafeMoon, while influencers and proponents beg for patience.
The technical problems that have developed as a public debate among SafeMoon critics and its backers is not the first loud debate centered on SafeMoon. The cryptocurrency has a policy of charging its sellers a commission price via exchanges in order to try and limit selling and thus create a buy and hold mentality; this has created many skeptics too. SafeMoon has no stated utilitarian purpose either; it is a speculative cryptocurrency like Dogecoin. The allure of SafeMoon is to speculate, hope its value changes substantially and then cash out positions when possible in order to profit. If SafeMoon is unable to launch its ‘promised’ cryptocurrency wallet the pressure and criticism surrounding SafeMoon/USD will grow.
SafeMoon Outlook for September
Speculative price range for SafeMoon/USD is between 0.000000900 and 0.000004100.
Having achieved a solid mid-term high on the 28th of August was noteworthy. However, the rapid fall in value was not unexpected considering the negative news regarding the inability to bring the SafeMoon cryptocurrency to the public for use. If the wallet is not able to be brought forth, let there be no doubt that critical eyes and voices will grow. SafeMoon/USD is a purely speculative bet; the polite word ‘wager’ perhaps shouldn’t be used. If a speculator thinks SafeMoon will not be able to produce a cryptocurrency wallet there is a legitimate reason to suspect technically the speculative asset could continue to lose money if criticism and claims of a potential scam grow louder.
It should not be forgotten that this is a cryptocurrency that trades fractionally. Traders need to be very careful of their entry level orders and make sure they are using the correct digits when entering their positions so they do not over pay or never get their positions filled. Strict take profit and stop loss orders should be use when betting on SafeMoon. If a speculator believes that SafeMoon will actually release its cryptocurrency wallet, and that it will work properly and draw the attention of positive reviews and dampen the voices of critics, then yes, actually buying SafeMoon could be an interesting speculative bet. The month of September is likely to get more interesting for SafeMoon. Good luck to anyone who has the desire and ability to speculate within its sphere.
