As October approaches, speculation is rife about the best crypto to buy. According to several traders, this is a new crypto that was launched on a tier 1 exchange.
New cryptocurrency to watch
The OKX exchangestill known as OKEx before the start of 2022, first listed the Tamadoge (TAMA) cryptocurrency on September 27 at 11:00 UTC.
OKX also supported TAMA swaps on its DEX aggregator cross-channel from 17:00 UTC. For indication, OKX is both a centralized and decentralized exchange, open to traders from all over the world.
Bullish case for Tamadoge
Tamadoge was listed at the price of $0.03 with a circulating supply of 1 billion, allocated to its presale now closed, and a maximum total supply of 2 billion tokens.
Tamadoge is the play-to-earn (P2E) rewards token and native currency for a new crypto gaming application, with additional M2E functionality. Alongside other arcade-style games, part of its roadmap sees players walking their NFT dog through an augmented reality metaverse, the “Tamaverse”.
Our experienced traders compared it to another popular cryptocurrency that boomed earlier this year: STEPN (GMT). This is the native token of an M2E application for walkers and joggers.
Our analysts reported this month that the presale of Tamadoge has raised more funds than STEPN’s ICO. The latter raised $9.2 million in the space of four weeks. In the full eight weeks of its token presale, Tamadoge raised $19 million.
After its initial coin offering, GMT reached a live market cap of $2.5 billion at its peak. Its bull run spanning from the beginning of March (its Binance listing) to the end of April.
For TAMA to potentially be the next cryptocurrency to explode at this valuation after its ICO, it would have to increase its market capitalization live, which will be $30 million at launch, or 83.3x.
Our analysts noted on our analysis article “Is Tamadoge the next GMT“that unlike STEPN, TAMA is deflationary.
A 5% token burn is applied to all Tamadoge store transactions. For reference, this is the in-game marketplace where players buy items, food, and accessories to train and upgrade their Tamadoge pets (represented by dynamic NFTs), all of which have strengths, attributes, and a unique rarity. .
Over the past few weeks, Terra Classic has shown that cryptocurrency investors are supporting assets with some sort of deflation rate. The news of 1.2% LUNC burning has led Terra Classic to rally more than 1,400% from its 2022 lows.
GMT’s retracement from its April all-time high of $4.18 was partly due to the fact that the GMT, the other native token of the STEPN ecosystem, Green Satoshi Token, was inflationary.
Coin Call Meme
Apart from being an app to earn free crypto like STEPN, the Tamadoge app also taps into the massive appeal of meme tokenshis catchphrase for TAMA being “the game to earn Dogecoin“.
Shiba Inu is up more than 50 million percent in its price history, driven primarily by retail investor FOMO.
While some criticize cryptocurrency memes for their lack of usefulness, these are undeniably the most popular crypto assets alongside Bitcoin itself. DOGE and SHIB are still in the top 20 cryptos even after a 90% correction. DOGE is 10e in the standings while SHIB at 13e position.
STEPN is also currently down over 85% from its peak, and now has a live market cap of $370 million. This would not miss than a 12 times gain for TAMA to achievewith a similar use case and utility.
The deflationary tokenomics and meme crypto aesthetics make it a strong contender to be one of the top cryptocurrencies after launching on OKX on Tuesday, until the next crypto bull run which crypto experts say will take place around the Bitcoin halving in 2024.
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Traders Predict This New Cryptocurrency Will Grow 83x By 2024 Thanks To Its Use Case
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