SNM Trades Over $4 After Rallying Over Past 24-48 Hours By CoinEdition

SNM traded over $4 after rallying in the past 24-48 hours
  • A project that was thought to be dead has risen more than 20-fold.
  • SNM’s official website hasn’t been updated for a long time.
  • The project is currently ranked 218th in terms of market value.

The cryptocurrency project thought to be dead, SONM (SNM), is up 1,870.15% in the past 24 hours according to cryptocurrency market tracking website, CoinMarketCap. As a result, the price of SNM stands at $4.02.

Compared to the cryptocurrency (BTC) and (ETH) market leaders, SNM price strengthened against both leaders by 1,891.79% and 1,879.67%, respectively. In addition, SNM price recorded a daily high of $4.63 and a daily low of $0.1976.

The daily trading volume of the project, which was also believed to be dead, increased by 20,946.91% in the past 24 hours – bringing the total to $323,179,681. This statistic is the main indicator of how inactive the project is for low trading volume.

Ranked #218 by market cap according to CoinMarketCap, SNM’s ICO launched in 2017 and hasn’t updated its official website in a very long time.

There is speculation circulating in the market that the rapid rise in the price of SNM is likely to be the result of counter trading involving stolen coins, or a lack of liquidity due to the withdrawal of market makers.

The latter will enable the trader to significantly push the price of the token with much less capital than would be required for the price movements of the tokens with larger amounts of liquidity.

SNM/USDT Daily Chart Source: CoinMarketCap

As can be seen in the daily chart of SNM/USDT, the last two days have seen SNM price rally to near an all-time high of $5 from a low of $0.1999 just before the move.

Disclaimer: Opinions and opinions, as well as all information shared in this price analysis, are published in good faith. Readers should do their research and due diligence. Any action taken by the reader is at their own risk. Coin Edition and its affiliates will not be liable for any direct or indirect damage or loss.

Post SNM trading over $4 after rallying in the past 24-48 hours showed up for the first time in coin issuance.

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