As October approaches, expert traders are speculating that the best crypto to buy right now could be a new coin listing set to launch on a tier one exchange.
New cryptocurrency to watch
The OKX exchange – known as OKEx before the start of 2022 – will list Tamadoge (TAMA) on September 27 at 11:00 UTC.
OKX will also support TAMA swaps on its cross-chain DEX aggregator 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 its now exhausted presale – and a maximum total supply of 2 billion coins.
Tamadoge is the play-to-earn (P2E) rewards token and native currency for a new crypto gaming app, with added move-to-earn (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 expert traders compared it to another popular cryptocurrency that boomed earlier this year, STEPN (GMT) – the native token of an M2E application for walkers and joggers.
Our analysts reported this month that the Tamadoge presale raised more than the STEPN ICO – which 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 early March (its Binance listing) to late April.
For TAMA to potentially be the next cryptocurrency to explode at this valuation after its ICO, it would need to increase its live market capitalization – which will be $30 million at launch – by 83.3x.
Deflationary Cryptocurrency
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 transactions in the Tamadoge store, the in-game marketplace where players purchase items, food, and accessories to train and upgrade their Tamadoge pets (represented by dynamic NFTs) , all of which have unique strengths, attributes, and rarity. .
Over the past few weeks, Terra Classic has shown crypto investors supporting assets with a sort of deflation rate – news of 1.2% LUNC burning has led Terra Classic to rally over 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.
Meme Coin Call
Apart from being an app to earn free crypto like STEPN, the Tamadoge app also harnesses the massive appeal of meme tokens, its tagline 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 cryptocurrencies themselves for their lack of usefulness, they are undeniably the most popular crypto assets alongside Bitcoin itself. Both DOGE and SHIB are still in the top 20 cryptos even after a 90% correction, DOGE at #10 and SHIB at #14.
STEPN is also currently down more than 85% from its peak and now has a live market cap of $370 million – which would only be a 12x gain for TAMA to reach, with a case in point. similar use 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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