Traders predict this new cryptocurrency to 83x by 2024 with the range of uses
Heading into October, expert traders are speculating that the best crypto to buy right now may be a new coin listing set to launch on a tier-1 exchange.
New cryptocurrency to watch
The OKX exchange – known as OKEx until early 2022 – will list Tamadoge (TAMA) on September 27 at 11:00 UTC.
OKX will also support TAMA swaps on its DEX aggregator across chains from 17:00 UTC – OKX is both a centralized and decentralized exchange, open to traders worldwide.
Bullish Case for Tamadoge
Tamadoge will be listed at a price of $0.03 with a circulating supply of 1 billion – allocated to the now sold-out pre-sale – and a total maximum supply of 2 billion coins.
Tamadoge is the play-to-earn (P2E) reward token and the native currency of a new crypto gaming app, with additional features for move to earn (M2E). Alongside other arcade games, part of the roadmap allows players to walk their NFT dog in an augmented reality metaverse, the “Tamaverse”.
Our expert traders have compared it to another popular cryptocurrency that exploded earlier this year, STEPN (GMT) – the original token of an M2E app for walkers and joggers.
Our analysts reported this month on the Tamadoge presale that raised more than the STEPN ICO – which raised $9.2 million – in four weeks. During the entire eight weeks of the token sale, Tamadoge raised $19 million.
After the initial coin offering, GMT went on to achieve a live market capitalization of $2.5 billion at its peak – the bull run lasted from early March (its Binance listing) to late April.
For TAMA to potentially be the next cryptocurrency to explode to that valuation after its ICO, it would need to increase its market cap – which will be $30 million at launch – by 83.3x.
Deflationary cryptocurrency
Our analysts noted on our “is Tamadoge the next GMT” analysis that unlike STEPN, TAMA is deflationary.
A token burn of 5% is applied to all Tamadoge Shop transactions, the in-game marketplace where players purchase goods, food, and accessories to train and upgrade their Tamadoge pets (represented by dynamic NFTs), all of which have unique strengths, traits, and rarity.
In recent weeks, Terra Classic has shown that crypto-investors support assets with some form of deflation rate – the news of the 1.2% LUNC burn sent Terra Classic up over 1400% from its 2022 low.
GMT’s retracement from its April high of $4.18 was partly due to GST – the other native token of the STEPN ecosystem, the Green Satoshi Token – being inflationary.
Meme Coin Apple
In addition to being an app to earn free crypto like STEPN, the Tamadoge app also leverages the mass appeal of meme tokens, its tagline for TAMA is ‘the game to earn Dogecoin‘.
Shiba Inu rose over 50 million percent in its price history, largely due to retail investor FOMO.
While some criticize meme cryptocurrencies for their lack of utility, they are undeniably the most popular crypto assets next to Bitcoin itself. DOGE and SHIB are both still in the top 20 cryptos even after a 90% correction, DOGE at #10 and SHIB at #14.
STEPN is also currently down over 85% from its peak and now has a market cap of $370 million – which would only be a 12x gain for TAMA to reach, with a similar use case and utility.
Having deflationary tokenomics, and the meme crypto aesthetic, makes it a strong contender to be one of the top cryptocurrencies after its launch on OKX this Tuesday, until the next crypto bull run that crypto experts predict will take place around the 2024 Bitcoin halving.
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