- SafeMoon price is targeting a rally back to at least $0.001500000, the high of April.
- SAFEMOON breaks its downtrend and turns higher.
- The token price action is torn between scam accusations and technicals with relatively big bullish potential.
UPDATE: Safemoon price keeps coming back from the dead, closing in on a key horizontal resistance at $0.0008000, where it set daily candlestick highs both on April 20 and on the frenzy May 12 price action. SAFEMOON current price action chart only goes back to January 2022 as the Safemoon contracts were updated on a 1000:1 consolidation in the transition from V1 to V2. The goal of this consolidation was to reduce the number of tokens without affecting the value, but the move to V2 was not well received by the market as SAFEMOON went from trading at a $0.002188 high on January 22, the second day after the transition, to touching a low of $0.0002870 on May 11, losing 88% of its value in the process. This led to many questioning the validity of the project, including accusations of this cryptocurrency being "a scam" like the one made by the popular Youtuber "Coffezilla."
