SafeMoon sees limited 5% gains between November 17 and November 23 as the market cools down.
The upward movement of the SafeMoon price last week indicates the chosen market is. SAFEMOON was caught in a period of medium volatility, which was reflected in its price action. The price action on the coin's market translated to the decline of market capitalization. The price action of the crypto coin from last week stemmed from the decreasing trading volume.
The situation on the SafeMoon market allows us to characterise its volatility as mild. During the reviewed period, the volatility of SAFEMOON was in the middle register, averaging at 6%. The most significant volatility occurred on November 17 and reached 7.42%. The asset has been the least volatile on November 21; at this time, the volatility stood at 0.39%. Since the volatility of 6% can be deemed as mild, the crypto coin's market can be characterised as composed.
On November 17, the SafeMoon market opened at $0.0003, preceded by a period of neutral action. On November 17, the first trading session of the reviewed time period, the market participants saw SAFEMOON moving down by 2%. November 18 saw the coin going another 1% since the open, supported by the corresponding trading volume. The price range of SafeMoon formed between $0.00026 and $0.00027 on November 19 as the price traveled 2% down. SAFEMOON ’s performance during November 20 was the following: the price declined by 2% in conjunction with the acceptable trading volume. The price oscillation of SafeMoon on November 21 was in the $0.0003 - $0.0003 range; at the same time, the price stretched out to reach the 24H low at $0.00024 and the 24H high at $0.00026. No changes were observed on the crypto coin's market on November 22. Most trading activity on November 23 occurred in the space between $0.0003 and $0.0003; during this time span, the immediate selling pressure forced the coin to drop to the 24H low at $0.00025, though the bulls had also staged the rally to the 24H high at $0.00029. The asset posted the weekly low at $0.00024, while the top of the weekly trading session was registered at $0.00029. The difference between the lowest and the highest price points for the week was 5%, as the price moved in the $0.00001 wide corridor.
In the period November 17 - November 23, the trading volume of SafeMoon went from $455 263 on the first day of the reviewed period to $399 501 on the closing day. During the week before November 17, the trading volume of SAFEMOON flowed from $457 236 to $1 326 084. The 60% trading volume fluctuation between November 17 and November 23, as compared with the previous period, served as a basis for a 5% price move.
Bitcoin began the observed period November 17 - November 23, with the market capitalization of $150 108 527 and finalized it at the market capitalization level of $143 334 691. The percentage change in the total market capitalization of SAFEMOON amounted to 5%. The price of the coin changed by 5% on the back of the 5% shift in its total market capitalization. During the week before the analyzed time frame, the market capitalization of SafeMoon moved by 5% as it went from $150 879 412 to $158 861 587, and gave a better understanding of the general direction in which this market is flowing.