Most of the crypto assets are undergoing huge variation in recent times. While some are plunging massively, some are trying to bounce back hard challenging the ongoing trend. Assets like Terra that formed a new ATH being distinct from the ongoing trend. Yet assets like Safemoon, appear to struggle to achieve a decent upside movement.
Safemoon price after the gigantic rally a couple of months before just slipped out of everyone’s attention. And hence the price trend also remained restricted as no new hands entered the ring to uplift the price.
Safemoon price dropped massively since the beginning of December and was also successful in recovering to some extent. The asset after flipping from the lows around $0.00000700 ranged high to eliminate the added zero. Interestingly, the asset has not shown any signs of either upward or downward movement since a couple of days, probably due to the lack of interest.
One possible reason may be that the investors might be looking for some great entry zone which may be located still lower than the current levels. And hence to gain the trader’s attention, the asset may slip down to the support levels around $0.00000700 yet again before the next leg up.
Overall Safemoon price after the recent migration to new address, is swinging hard to sustain at the present levels. However, the asset is still primed to reach new highs, yet a small pull back is still possible.