Safereum Price Prediction: Is SAFEREUM Gearing Up for a 100% Increase?

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Safereum price is up 23% in the last 24 hours and over 450% since its listing on the Poloniex centralized exchange on Oct. 11. According to data from DEXTools, SAFEREUM began trading at $0.000001 on Oct. 7.

At the time of writing, the price has grown to $0.0000057159 with a market cap of $4.03 million, liquidity of $849,110, and a 24-hour trading volume of $2.88 million, according to data from CoinMarketCap.

It is among the trending articles on DEXTools at the moment.

Hot Pairs Dextool - Oct 7 — **Source**: *DEXTools*

On Oct. 14, the team behind Safereum, a decentralized meme token built on the Ethereum blockchain, announced the relaunch of the SAFEREUM token on Uniswap V3.

https://twitter.com/Safereumio/status/1710444903686103326?s=20

Additionally, the Safereum founders announced the addition of “20 ETH to the V3 Liquidity Pool” giving everyone who contributes to the “Uniswap V3 Liquidity Pool” an opportunity to “earn 1% passive income from Trading Volumes!”

https://twitter.com/Safereumio/status/1710563245067563175?s=20

On the same day, BitMart, a leading digital asset trading platform, announced that it was listing the SAFEREUM token.

#BitMart is thrilled to announce the exclusive primary listing of Safereum (SAFEREUM) @Safereumio 🔥

💰Trading pair: $SAFEREUM/USDT
💎Deposit: Available
💎Trading: 10/7/2023 12:00 PM UTC

Learn more: https://t.co/1MtyV3Fl0L pic.twitter.com/iENXZXibiA

— BitMart (@BitMartExchange) October 7, 2023

Later on Oct. 10, the token secured a listing on the Poloniex crypto exchange, further solidifying its popularity.

#Poloniex 🆕 Listing: @Safereumio 🎉🚀#SAFEREUM will be listed with USDT trading pair.

$SAFEREUM wallets will open on Oct 11, at 10:00 UTC and full trading will be enabled on Oct 11, at 11:00 UTC.

Learn more ⬇️https://t.co/eHHV2VW1hw #crypto #web3 #blockchain pic.twitter.com/qlFntC6qe8

— Poloniex Exchange (@Poloniex) October 10, 2023

With a liquidity pool of over $865,290 locked in Uniswap smart contracts, SAFEREUM boasts a decent reserve of tokens. Such a stash enables traders to easily swap tokens for other cryptocurrencies or fiat currencies.

A project with a sound liquidity pool makes trading more straightforward, faster, and convenient. Such a project commands confidence amongst investors, which is, in turn, favorable for its price growth.

Safereum Price Analysis

After rallying for three days, the SAFEREUM price hit an all-time high of $0.00001373 on Oct. 7. The price then underwent a massive sell-off as early adopters booked profits. The ensuing selling pressure saw Safereum witness a sharp decline, halted around the $0.00000434 area.

This price action led to a descending parallel channel on the two-hour chart (see below). The meme coin escaped earlier today’s bearish technical formation, suggesting that the downtrend might have ended.

At press time, the crypto was fighting resistance from the 50-two-hour Simple Moving Average (SMA) at $0.0000063.

A rise above this level would bolster the bulls to confront opposition from the $0.0000070 supplier congestion zone. SAFEREUM could shatter this resistance in highly ambitious cases before returning to the declining channel’s upper tip $0.00001089 and later to the $0.00001159 range high. Such a move would represent a 100% ascent from the current price.

Safereum/USDT Two-Hour Chart

SAFEREUM Price Chart - Oct. 17 — TradingView Chart: SAFEREUM/USDT

Apart from the significantly bullish chart pattern, the position of the Relative Strength Index (RSI) in the positive region just above the midline supported the optimistic outlook. The price strength had increased from 32 during the early Asian trading session on Tuesday to the current value of 50.37. This pointed to increasing bullish momentum.

In addition, all the simple moving averages (SMAs) were also facing upwards. Note that the call to buy SAFEREUM, sent earlier today when the 10-period SMA crossed above the 20-period SMA, was still in play. This suggested that the market conditions still favored the upside.

On the other hand, both the RSI was facing downward, suggesting that the bears were still booking profits on the run-up to 50 SMA. They may pull the price downward to produce a two-hour candlestick close below the support level at $0.0000053, embraced by the 10 and 20 SMAs.

A drop lower would see SAFEREUM revisit yesterday’s swing low at $0.00000437 and later at $0.000004049, the falling channel’s upper boundary. The next logical move would be a drop toward the middle boundary of the prevailing chart pattern at $0.000002798, bringing the total losses to 52%.

Those seeking to go short on SAFEREUM must wait for a clear move below the upper boundary. While waiting for this to happen, they could look to new cryptocurrency in presale with the potential to make good returns in 2023 as a crypto diversification strategy.

SAFEREUM Alternatives

Bitcoin Minetrix is a project that offers a fully decentralized and transparent cloud mining platform that allows users to mine BTC simply by staking the project’s native token, BTCMTX.

In other words, those who purchase BTCMTX can stake it, giving them credits for mining Bitcoin.

It is all done with no specialized equipment or a massive electricity bill, which has attracted many interested users.

The project has already raised over $1.6 million, and its token’s price is $0.111. Those interested can buy it with BNB, ETH, USDT, or via credit card.

Witness #BitcoinMinetrix achieving another remarkable milestone!

More than $1,600,000 raised!🪙 pic.twitter.com/yyrHTMRQz2

— Bitcoinminetrix (@bitcoinminetrix) October 17, 2023

However, they are recommended not to wait too long, as the project already saw one price increase, with another coming in around two weeks.