Overview of Satoshi Nakamoto (SATOSHI)
Satoshi Nakamoto (SATOSHI) is an Ethereum-based cryptocurrency token launched in October 2023. It is distinct from Bitcoin's creator but shares the iconic name. The token operates on the Ethereum blockchain, leveraging its security and infrastructure.
The project remains relatively niche, with specific market dynamics and a dedicated holder base. Understanding its structure and performance helps investors make informed decisions.
Current Market Performance
As of the latest data, SATOSHI is trading at approximately $0.0244. The token has experienced a slight decline of 0.52% over the past 24 hours. Market activity remains limited, with a 24-hour trading volume of around $59.
Price fluctuations have been significant over various periods. Weekly performance shows a decrease of about 21.03%, while monthly charts indicate a substantial drop of 80.30%. These metrics highlight the token's high volatility and speculative nature.
Historical Price Context
SATOSHI reached its all-time high of $3.00 on March 3, 2024. Since then, the price has corrected dramatically, reflecting broader market trends and token-specific factors. The 52-week price range has been between $0.0233 and $0.8442, indicating considerable volatility.
Market sentiment appears bearish based on technical indicators. Multiple moving averages suggest a selling trend, while oscillators like RSI and Williams Percent Range indicate neutral to oversold conditions.
Market Capitalization and Supply
Calculating the exact market capitalization is challenging due to uncertainties in circulating supply. Using the total supply approximation, the market cap is estimated around $51.3 thousand. This places SATOSHI in the lower spectrum of crypto assets by valuation.
The token's fully diluted valuation (FDV) would be identical if total supply equals circulating supply, given the current price. However, investors should verify supply metrics from reliable sources for accuracy.
Trading Availability and Liquidity
SATOSHI is currently traded on a single exchange, NovaDAX, with a trading pair against the Brazilian Real (BRL). Liquidity is limited, with average daily trading volume around $1,424 over the past month.
Low liquidity means executing large orders without significant price impact is difficult. Traders should use limit orders and monitor order book depth when transacting. For broader market access, explore more trading strategies to navigate low-volume assets effectively.
Wealth Distribution Analysis
Wealth distribution data reveals concentration among top holders. The top 10 addresses control approximately 29.45% of the total supply, while the top 100 hold about 73.60%. This indicates significant centralization, common in many newer tokens.
Such concentration can impact price stability and governance. Potential investors should consider these dynamics when evaluating investment viability.
Technical and On-Chain Metrics
On-chain data shows over 2,060 unique holder addresses and more than 43,665 total token transfers. Transaction activity averages about 30.9 daily transfers over the past month, indicating moderate network usage.
Technical analysis signals are predominantly bearish across multiple timeframes. Key indicators like SMA and EMA for periods from 10 to 200 days all suggest selling pressure. The RSI reading of 32.69 approaches oversold territory but remains neutral.
Comparative Performance
Compared to other tokens launched in 2023, SATOSHI underperforms in trading volume. The average volume for similar assets is around $3 million, while SATOSHI struggles near $59. This low activity reflects limited market interest or awareness.
In meme token rankings, SATOSHI occupies position #799, highlighting its minor presence in a highly competitive category.
Frequently Asked Questions
What is the current price of Satoshi Nakamoto (SATOSHI)?
The live price is approximately $0.0244 USD. Prices fluctuate constantly due to market conditions, so check real-time data for updates. The token has declined slightly over the past day.
What was the highest price ever reached by SATOSHI?
SATOSHI achieved its all-time high of $3.00 on March 3, 2024. This peak occurred during broader crypto market enthusiasm, but the token has since retraced significantly.
Where can I buy Satoshi Nakamoto tokens?
Currently, NovaDAX is the primary exchange listing SATOSHI, trading against BRL. Always verify the official contract address (0xcbf4d5efa82e32a9187385480a7c74cb062b956c) to avoid scams when purchasing.
How volatile is SATOSHI compared to other cryptocurrencies?
SATOSHI exhibits high volatility, with quarterly metrics exceeding 500%. This makes it riskier than established cryptocurrencies, suitable only for investors with high risk tolerance.
What does the wealth distribution indicate about SATOSHI?
Wealth is concentrated among top holders, with the top 10 addresses holding over 29% of supply. This can lead to price manipulation risks and reduced decentralization.
Is SATOSHI a good investment?
Investment suitability depends on individual risk appetite and research. SATOSHI has shown significant price declines and low liquidity. Always conduct thorough due diligence and consider consulting financial advisors before investing in volatile assets.
Investment Considerations
Prospective investors should note SATOSHI's high-risk profile. Limited exchange availability, low liquidity, and significant holder concentration increase investment risks. Technical indicators currently suggest bearish trends across multiple timeframes.
Performing independent research and understanding tokenomics is crucial. The crypto market is inherently volatile, and smaller cap assets like SATOSHI can experience extreme price swings.
Conclusion
Satoshi Nakamoto (SATOSHI) presents a case study in niche cryptocurrency dynamics. Its performance reflects both market cycles and token-specific factors. While past performance shows dramatic peaks and troughs, future trajectories remain uncertain.
Investors should prioritize risk management, use reliable exchanges, and stay informed about market developments. Understanding underlying blockchain metrics and wealth distribution provides valuable insights beyond price alone.