Crypto News

Why Crypto Memecoin Whales Are Accumulating Tamadoge

What crypto are the whales buying? After the ongoing crypto market crash in 2022, users are looking for the best meme crypto to buy now. Currently, many whales and investors are looking to buy TAMA – a new NFT project that is aiming to change the gaming sector by introducing DeFi (decentralized finance) protocols. This guide will review one of the best new crypto meme coins and why whales are accumulating Tamadoge. Why Tamadoge has Gained the attention of Memecoin Whales in 2022 The sections below look at 5 reasons why Tamadoge is gaining attention among the meme coin whales in 2022. 1.    Affordable Pricing On the 25th of July 2022, TAMA launched its beta presale phase. Investors can buy Tamdoge for $0.01 per token, with a minimum purchase of 1,000 tokens ($10). To buy TAMA, investors can either purchase ETH or USDT, and convert their holding to TAMA coins. On the other hand, users can buy TAMA with fiat currency via credit/debit card payment methods. Currently, early investors have bought over $100,000 of TAMA in the first two weeks of the Tamadoge beta sale. The low token price can potentially make TAMA one of the best low-cap crypto gems to buy in 2022. 2.    Deflationary Token One of the benefits of buying Tamadoge is that it aims to be a deflationary token. For example, coins like Doge and Shiba Inu are not inflation-proof – since they provide an increase in the number of tokens supplied over time. Dogecoin has increased its total supply cap from 100 billion to 132 billion, making the supply increase compared to the demand. On the other hand, TAMA provides a decreasing token supply over time. Firstly, TAMA has a maximum supply of 2 billion tokens. Moreover, 5% of all TAMA tokens spent on the platform will be burnt. This will ensure that the number of tokens reduces over time, increasing the demand in the long run. Therefore, the developers hope that the token can increase in value and potentially provide investors with higher returns. 3.    No Transaction Tax Another key feature of the Tamadoge cryptocurrency is that it charges no transaction tax to users who buy, sell and trade the tokens. For example, many crypto ecosystems will take a cut from users’ transactions to maintain the rest of the network. However, the TAMA developers state that the ecosystem itself will generate revenue. This benefits the network users since they can retain a higher amount once their transactions are completed. 4.    Long-Term Investment One of the main weaknesses of meme coin investments is long-term stability. While Bitcoin and Ethereum do experience price corrections, they have always provided profits in the long term. However, meme coins experience rapid pump and dump movements, making it a risky bet. The unique feature of TAMA is that it is positioned as both a meme coin as well as a utility token. It functions as the Tamaverse – the P2E ecosystem where users can earn in-game rewards. Players can purchase Tamadoge pets – which are unique NFT avatars. They are used in competition against other players to earn TAMA tokens from P2E prize pools. TAMA is also the payment method to purchase these NFTs from the Tama store. Therefore, there is long-term utility in the token. With the development teams’ plans to list the tokens on multiple crypto exchanges, users can buy TAMA now and hold it for the long term. Thus, TAMA is gearing up to become one of the best utility tokens in 2022. 5.    Future Roadmap Plans Finally, a good cryptocurrency investment involves researching the project and its future plans. Many whales will see TAMA as an exciting opportunity due to the promising updates the ecosystem will look to deploy. Firstly, TAMA is expected to be listed on decentralized (DEX) and centralized exchanges (CEX). For example, a notable DEX, TAMA will be deployed on the popular CEX – LBank and UniSwap. Apart from the web-based P2E platform, Tamadoge is also looking to release an Augmented-Reality (AR) by the final quarter of 2022. This app will retain the P2E dynamics as the web-based platform but offers easier access to Tamadoge. With several new metaverse apps coming up, this can potentially become one of the best NFT apps in the market. Next is the platforms’ plans for an upcoming P2E arcade – which will feature several Tamadoge-related games and physical Tamadoge rewards to players. What is Tamadoge? Tamadoge (TAMA) is the native cryptocurrency and utility token of the Tamaverse. This is a decentralized crypto project which will boast several P2E gaming features – allowing players to earn rewards while participating in community-driven competitions. Tamadoge pets are at the centre of the P2E universe – since these NFT avatars can be bought, created and bred to participate in games. Users will battle other members and compete for points on a monthly leaderboard to earn TAMA from various “dogepools”. Apart from buying Tamdoge pets, users can buy items such as accessories and foods which can be used on their NFT pets. All these items will be purchased with TAMA, and the tokens collected will be split among three pools. Firstly, 5% of the tokens spent will be burnt to increase the demand against the supply. Secondly, 30% of tokens will be used for marketing purposes so that the platform gains social media presence and becomes more mainstream. Finally, 65% of the tokens spent are re-distributed to the P2E prize pools and given to the top performers on the Tamadoge platform. A Closer Look at Tamadoge Apart from providing several P2E features and NFT-centred protocols, the TAMA token displays strong tokenomics. TAMA is trading for beta presale for only $0.01 per token. The Tamadoge team has made 50% of the total supply available for this first token round. 20% of the total token supply has been reserved for future listings on centralized and decentralized exchanges, such as LBank and UniSwap. The remaining 30% will be available in the next 10 years via minting operations. Currently, the Tamaverse is only at its infancy stage. Apart from the Tamadoge pets, this metaverse environment envisions a place for several AR-based apps, exciting earning opportunities with arcade games and even virtual dog parks in the plans for the future. Users interested in learning more about the project can subscribe to the official Telegram group and stay updated. Admins will never DM you first, beware of scams where impersonators copy the profile pic and name of admins or moderators. Min Investment 1,000 TAMA (∼$10 + gas fee) Max Investment N/A Purchase Methods ETH, USDT, Debit / Credit Card (via Transak) Chain Ethereum Beta Sale Ends 2nd September 2022 Presale Ends Q4 2022 How to Buy Tamadoge (TAMA) The sections below provide users with a step-by-step breakdown of how to buy Tamadoge in 2022. Step 1: Set up a Crypto Wallet Users need to download a crypto wallet when looking for where to buy Tamadoge. For example – users can use MetaMask – one of the best crypto wallets, which will allow users to purchase TAMA during the ongoing beta presale. Users can head over to MetaMask and click on ‘Download’. Step 2: Buy ETH or USDT Users can buy Tamadoge with ETH or USDT by purchasing it from a crypto exchange and transferring the tokens back to their Metamask wallets. It’s also possible to buy TAMA using a debit/credit card via the popular fiat on-ramp Transak. Step 3: Link MetaMask to Tamadoge Presale Platform The next step is to go on the Tamadoge website and click on ‘buy’. Users can then click ‘Connect Wallet’ and choose their wallet provider to connect with the presale platform. Follow the instructions to officially link the wallet. Step 4: Buy TAMA Tokens The final step is to buy TAMA. Simply enter the amount of TAMA you would like to purchase and select ‘Convert ETH’ or ‘Convert USDT’. Users need to purchase a minimum of 1,000 TAMA. Buy Tamadoge on Beta Presale Finally, users can claim their TAMA tokens once the presale ends. Once the presale period is over, click on ‘claim’ on the Tamadoge website’s homepage.      

Bitcoin Crypto News

This On-Chain Indicator Suggests Bitcoin Still Only 1/3rd Into Bear Market

The Bitcoin long-term holder SOPR may suggest that the crypto has still only gone one-third of the way through the latest bear market. Bitcoin 20-day SMA Long-Term Holder SOPR Has Only Been 86 Days Into Bottoming Zone As pointed out by an analyst in a CryptoQuant post, the crypto is still only 1/3rd of the way into the 260 days average historical bottoming period. The relevant indicator here is the “Spent Output Profit Ratio” (or SOPR in brief), which tells us about whether the average Bitcoin investor is selling at a profit or at a loss right now. The metric works by looking at the history of each coin being sold on the chain to see what price it was last moved at. If this previous selling price was less than the latest BTC value, then the coin has just been sold at a profit. While if the last value was more than the current one, then that particular coin realized some loss. When the value of the SOPR is greater than one, it means the market as a whole is selling at a profit right now. Related Reading: Bitcoin Funding Rates Turn Positive, Why The Rally May Not Be Over On the other hand, the indicator being less than one implies the average holder is moving coins at a loss at the moment. The “long-term holders” (LTHs) is the Bitcoin cohort that includes all investors who have held onto their coins for at least 155 days without selling or moving them. Now, here is a chart that shows the trend in the BTC SOPR (20-day MA) specifically for these LTHs over the the last several years: Looks like the value of the metric has been pretty low recently | Source: CryptoQuant As you can see in the above graph, the Bitcoin LTH SOPR (20-day SMA) dipped below the “one” mark a while back. Also, in the chart the quant has marked all the relevant zones of trend for the indicator in relation to the bear market. Related Reading: Here’s What Bitcoin Institutional Inflows Says About The Month Of July It seems like historical bottoming periods have lasted whenever the metric has been stuck below the breakeven point. On average, past bear markets have lasted around 260 days based on the LTH SOPR. In the current cycle, the coin has so far been 86 days into the bottoming zone. This would suggest that if Bitcoin ends this bear market in about the same time as the average, then the crypto is still only one-third of the way through. BTC Price At the time of writing, Bitcoin’s price floats around $23k, down 2% in the last week. Over the past month, the coin has gained 13% in value. The value of the crypto seems to have been moving sideways during the last few days | Source: BTCUSD on TradingView Featured image from mana5280 on Unsplash.com, charts from TradingView.com, CryptoQuant.com

Crypto News

Cardano (ADA) Regains Some Support But Rate Stuck Below Vital $0.50 Level

Cardano (ADA) price according to CoinMarketCap registered a jump of 3.96% or $0.5148 as of this writing.   CoinMarketCap hourly chart shows how ADA trades midway slicing in between the support zone of $0.4899 and the $0.5035 resistance level. In addition, ADA’s average transaction value is now 0. As of press time, the 8th largest coin in terms of market cap is in the gray or neutral area which means the coin is neither bullish nor bearish. TradingView’s daily chart on the ADA/USD price shows that it was able to rebound successfully to $0.4885 on the daily chart. But, ADA/USD price was not able to revert to the crucial $0.50 point which shows that the bulls are slowing down. If the bulls can’t push the price to the target zone, then the coin could dangerously plunge to $0.48. ADA Transaction Value Sees Uptrend In Past 116 Days TradingView’s midterm chart on ADA/USD has breached $0.4930. However, if the bulls fail to hold on to this level, the bull run ends right here. This perspective is said to be relevant for August. Currently, ADA trades at $0.5020. Notably, there is an inconsistency in the daily time frame of 20, 50,100, and 200 because the timeframes are misaligned which could be beneficial for traders. Divergence is spotted midway between the RSI and the price of ADA which hints trend reversal. Also, the average transaction value of Cardano showed an uptrend in the last 116 days, which is having a growth spurt of around 2332.44 daily. 3,015 Smart Contracts For Cardano Since August 2 In other news, the Cardano network currently has over 3,015 smart contracts as of August 2. It was only in September 2021 that Cardano rolled out an update on adopting smart contracts to speed up and increase performance. With the Vasil Hard Fork nearing its launch, Plutus Scripts peaked at over 3,000 smart contacts. With the looming launch of Vasil Hard Fork, Charles Hoskinson, Cardano founder, refuted claims that Vasil Hard Fork can impede the functionality of smart contracts in the network. Hoskinson believes that these fake news were started by trolls whom he calls “stupid” while repeating himself that smart contracts will not be affected and will operate like usual. Further, Hoskinson gave a confirmation and assurance on August 1 that the Vasil Hard Fork launch will push through and not experience delays as it’s currently going through final tests. More so, Sygnum Bank has also announced that their clients can start staking Cardano and earn rewards from their pools. ADA total market cap at $17.25 billion on the daily chart | Source: TradingView.com Featured image from Changelly, chart from TradingView.com

Altcoins Analysis Bitcoin Blockchain

The Bottom Is Near As Data Shows Market Makers And Institutions Have Resumed Accumulation: CryptoQuant

Elon Musk Riles Up Dogecoin Bulls After Coinbase Listing: Why The Meme Coin Could Go Sky High Or Hit Rock Bottom From Here

In a blog post on Wednesday, CryptoQuant analyst Dan Lim writes that market makers and institutions have once again started accumulating Bitcoin at levels similar to May 2021, indicating that the end of the current bear market is near. “After the peak in May 2021, accumulation for a new cycle has begun, and now, the […]