Why Safuu (SAFUU) crypto is seeing a sudden volume rally?

Highlights

• Safuu (SAFUU) crypto stands for Sustainable Asset Fund for Universal User. It provides a decentralised financial asset, which rewards users with a sustainable fixed compound interest model.
• On 7 June, SAFUU crypto was down by 17%, according to CoinMarketCap.
• SAFUU crypto, at the time of drafting, was trading at US$12.10 with a trading volume of US$28,86,260 over a day.

Safuu (SAFUU) crypto stands for Sustainable Asset Fund for Universal User. It practically provides a decentralised financial asset, which rewards users with a sustainable fixed compound interest model.

Dubbed as the industry’s highest fixed APY, the SAFUU crypto, according to its website, boasts of paying the users every 15 minutes with a simple buy-hold-earn system. Besides, the SAFUU crypto boasts of an array of features such as automatic burn, auto-liquidity insurance fund, etc.

On 7 June, SAFUU crypto was down by 17%, according to CoinMarketCap. However, it was witnessing a volume rally of over 172%.

Related read: Why is Kusama (KSM) crypto trailing today?

Why is SAFUU crypto trailing?

The reason for the slump is still not clear, but going by the technical analysis, it seems the token is down due to the sell-off pressure, which SAFUU crypto has witnessed.

According to the analytics, the RSI currently stands at 39.60 suggesting that the market participants are quite keen to make the most from the sell-off. The MACD also is indicating with little or no momentum.

The SAFUU crypto, however, is trying to do its best to peg back the losses and on 6 June, it announced the increase of the Fire Pit burn on every transaction with an aim to make a shift in price momentum to the upside. The SAFUU protocol increased Fire Pit burn on every transaction from 2.5% to 6.5%.

Related Read: Why did UNFI Protocol DAO (UNFI) crypto zoomed by 26%?

How is SAFUU crypto's price faring?

SAFUU crypto, at the time of drafting, was trading at US$12.10 with a trading volume of US$28,86,260 over a day. The token was down by 17.66% in the last 24 hours, with a fully diluted market cap of over US$39,362,459,159 and a maximum supply of 3,250,000,000 SAFUU coins.

But there was cheer for the investors as the volume did receive an uptick of 172.79%, according to CoinMarketCap.

SAFUU investors will hope for a quick turnaround but when it will happen remains to be seen. But, while they hope, they must do their market research to ensure that they don’t make any investment decisions in haste.

Risk Disclosure: Trading in cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory, or political events. The laws that apply to crypto products (and how a particular crypto product is regulated) may change. Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading in the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. Kalkine Media cannot and does not represent or guarantee that any of the information/data available here is accurate, reliable, current, complete or appropriate for your needs. Kalkine Media will not accept liability for any loss or damage as a result of your trading or your reliance on the information shared on this website.