A reduction in SafeMoon’s value has a negative impact on investors and bulls alike.
As recently as a few months ago, SafeMoon was a bright example of success. A new all-time low of $0.000001 was reached on September 27th, before a 593 percent rise to $0.000007 was seen. That’s why SafeMoon lost approximately 80% of its value between October 29th and December 4th.
As if the BitMart hack wasn’t bad enough, there was also the Saturday flash crash to add to the misery. According to PeckShield Inc., a hot wallet vulnerability between Binance’s Smart Chain network and Ethereum led to the theft of SafeMoon, Binance Coin, and Floki Inu.
Potentially lucrative trades might be made as a result of this. Among retail investors, SafeMoon is a popular choice. Speculators have already rushed to SafeMoon’s new all-time lows, increasing the stock roughly 54%. Initial resistance is predicted to come from the daily Tenkan-Sen at $0.000002.