Why crypto prices are exploding today
So, crypto prices are shooting up in bounds and leaps and the biggest investors are profiting from this price movement. Who wouldn’t? They are constantly looking for all the indications that the market will enter an uptrend and which crypto is likely to explode in price next.
There has recently been a boost of up to $50 billion in the crypto market. Many investors are concerned. Is this a sign that the next stage down is about to begin? Why the recent explosion in crypto prices?
First, there are no more depleting activities as the events seem to have peaked and dominoes cannot fall again because they are exhausted. No other shoe has dropped since Celsius, Terra, Three Arrows Capital and Voyager dropped.
Read on to find out the reason for the recent price explosion and which promising crypto you can buy now.
Whales accumulate as the prices of the major cryptos flash oversold.
Sellers appear to be exhausted, with bitcoin and other major coins holding oversold positions. Another closely related reason is that the big whales want to position themselves differently in the market and buy new assets as they believe that the cryptocurrency market is currently at or near a low.
Furthermore, after waiting for a palliative offer from European decision-makers, the prices of gas in Europe have taken a fall. Consequently, the prices of bonds also fell even though the prices of gold and oil rose.
But since the stock market is good, it has caused a ripple effect that has affected other risky assets, and what other asset is riskier than the crypto market? But the main factor leading to the recent bullish trend seems to be the decline in the dollar since there is a strong negative association between the dollar and bitcoin. The fall in the value of the dollar exposed the risk asset bulls.
In addition, the analysis and actions of the financial institutions have also contributed to the rise in the crypto market. As information broke that Franklin Templeton was to provide institutional dependent cryptocurrency accounts, DBS, Singapore’s largest bank, had earlier this week released a statement saying it would provide trading and digital asset services to 300,000 of its wealthiest. clients. The Whampoa group did the same a few days later. This cascade of events was because BlackRock, the largest global asset manager, declared that they would invest for their clients in crypto.
Another reason for this positive market cap is the Ethereum merger. The proposed merger will make business transactions in the crypto space cost-effective and insanely scalable, meaning businesses can transact on an industrial scale.
Besides the major crypto coins, there are positive vibes in other projects as well. Tamadoge (TAMA) is the prime example, as it has achieved 400 percent pre-sale growth.
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Tamadoge: The Buzzing Meme Coin with x10 growth potential
Tamadoge is the latest meme coin with growth potential that you should not ignore. It is a pioneer meme coin that has a metaverse and real exploitation. The developers built the Tamadoge ecosystem to have Play-to-Earn dynamics, where active enthusiasts can get TAMA tokens through well-organized avenues.
The Play-to-Earn game features virtual pets that act as NFTs and are called TAMA pets. Players are required to nurture and grow their digital pets into mature forms in order to compete with other players in tournaments and other in-game missions. TAMA pets can also be bought, sold and traded in the Tamadoge Pet Store. The TAMA token is used for all transactions.
The potential for this exciting project exceeds expectations. The beta sale generated more than $2 million in two weeks, and it performed better than expected. An additional $9.5 million was also raised during the general presale, and this was less than four weeks.
The best crypto minds predict that the growth potential will be in the range of 10, 20 and 50 times when the project starts. It is already being called the hottest crypto of 2022.
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The ongoing pre-sale of the TAMA token
The pre-sale isn’t closed yet, which means you can still invest. For 1 USDT you can get 40 TAMA tokens. The total token supply is two billion, and the pre-sale accounts for 50 percent of this. 70 percent have already been sold. Don’t drag your feet on this one. Visit the presale page and become an early investor in the king of all meme coins. At the time of writing, Tamadoge has already generated around $15 million.
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Conclusion
While the recent price explosion may be a sign that the crypto market is bottoming out, it may not be there yet. With the volatility in the market, one coin that has recently stood the harsh market tests is Tamadoge. Top financial analysts have predicted an increase in the TAMA token price following the recent Tamadoge pet store burn rate of 5 percent. That’s why it’s a good idea to jump in on this project while the pre-sale is still available.
