Heading into October skilled merchants speculate the most effective crypto to purchase proper now may very well be a brand new coin itemizing set to launch on a tier one change.
New Cryptocurrency to Watch
OKX exchange – referred to as OKEx previous to early 2022 – will record Tamadoge (TAMA) on September 27 at 11:00 UTC.
OKX will even assist TAMA swaps on its cross chain DEX aggregator as of 17:00 UTC – OKX is each a centralized and decentralized change, open to worldwide merchants.
Bullish Case for Tamadoge
Tamadoge shall be listed at a worth of $0.03 with a circulating provide of 1 billion – allotted to its now bought out presale – and a complete most provide of two billion cash.
Tamadoge is the play-to-earn (P2E) rewards token and native foreign money of a brand new crypto sport app, with added transfer to earn (M2E) options. Alongside different arcade model video games, a part of its roadmap permits gamers to stroll their NFT canine in an augmented actuality metaverse, the ‘Tamaverse’.
Our skilled merchants have in contrast it to a different widespread cryptocurrency that exploded earlier this yr, STEPN (GMT) – the native token of a M2E app for walkers and joggers.
Our analysts reported this month on the Tamadoge presale raising more than the STEPN ICO – which raised $9.2 million – inside the house of 4 weeks. Over the complete eight weeks of its token presale, Tamadoge raised $19 million.
Following its preliminary coin providing, GMT went on to realize a $2.5 billion dwell market cap at its peak – its bull run lasting from early March (its Binance itemizing) to late April.
To ensure that TAMA to probably be the subsequent cryptocurrency to blow up to that valuation after its ICO, it will want to extend its dwell market cap – which shall be $30 million at launch – by 83.3x.
Our analysts famous on our ‘is Tamadoge the next GMT‘ evaluation piece that in contrast to STEPN, TAMA is deflationary.
A 5% token burn is utilized to all Tamadoge retailer transactions, the in-game market the place gamers purchase gadgets, meals and equipment to coach and improve their Tamadoge pets (represented by dynamic NFTs), all of which have distinctive strengths, attributes and rarity.
In current weeks Terra Basic confirmed that crypto buyers assist belongings with some form of deflation price – the 1.2% LUNC burn information led to Terra Basic rallying by over 1,400% from its 2022 lows.
GMT’s retracement from its April all time excessive of $4.18 was partially as a result of GST – the opposite native token of the STEPN ecosystem, Inexperienced Satoshi Token – being inflationary.
Meme Coin Attraction
In addition to being an app to earn free crypto like STEPN, the Tamadoge app additionally faucets into the mass attraction of meme tokens, its tagline for TAMA being ‘the play to earn Dogecoin‘.
Shiba Inu rose over 50 million % in its worth historical past, principally as a result of retail investor FOMO.
Whereas some criticize meme cryptocurrencies for his or her lack of utility, they’re undeniably the most well-liked crypto belongings alongside Bitcoin itself. DOGE and SHIB are nonetheless each within the prime 20 cryptos even after a 90% correction, DOGE at #10 and SHIB at #14.
STEPN can be at present down over 85% from its prime and now has a dwell market cap of $370 million – which might solely be a 12x achieve for TAMA to succeed in, with an identical use case and utility.
Having deflationary tokenomics, and the meme crypto aesthetic, make it a robust contender to be one of many prime cryptocurrencies after its launch on OKX this Tuesday, via to the subsequent crypto bull run which crypto specialists predict will happen across the 2024 Bitcoin halving.
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