Whenever a new memecoin arrives, the question always becomes, “will it hit $1′? The question that people now have in their minds is, “Will Shiba INU reach $1?”. And like always, the experts and the people are divided.
In this article, we are going to discuss why Shiba INU might not reach $1, but there is a new memecoin on the block that has the potential.
Shiba Inu won’t reach $1 anytime soon – Here is why
As we said before, the experts and the crowd are divided about Shiba Inu.
On one side, you have the ultra-bullish – people who hang on to Elon Musk’s every word and, through sheer will, have tried to maintain the value of Shiba Inu even in the bear market. They rallied behind this memecoin after it bottomed in response to Bitcoin’s plunge and quickly pushed it upwards.
And on the other hand, you have experts, people who have watched the crypto markets closely and who are too familiar with the same cryptos rising and falling at a rapid pace.
And the reason is simple – a massive market capitalization is required for Shiba Inu to reach a penny, let alone a dollar. And if you take the current supply into account, the market cap behind Shiba has to be more than Bitcoin’s to reach the dollar level. And since it is not happening anytime soon, we don’t have high hopes for it.
That said, Shiba Inu developers have done a lot for the crypto community in general, including the creation of ShibaSwap, which is a fork of Sushi Swap. It is slowly getting more utility and getting more value, but it is still far from reaching the dollar level.
Your capital is at risk
But there is another memecoin in the market that holds the potential, due to the sheer fact that it adopts the identity of a “memecoin” only for marketing purposes. What’s hiding inside are many utilities that rival many altcoins in the market. Its name is Tamadoge.
What is Tamadoge, and Why it has the potential to reach $1?
Tamadoge of the cryptocurrency of the Tamaverse, a crypto gaming platform that has players adopt NFTs known as Tamadoge Pets, pet them, battle them and earn Dogepoints.
Tamadoge tokens are rewarded to players if they collect the highest number of Dogepoints by the month’s end.
Hailed as a Dogecoin of the future, Tamadoge adopts the aesthetics of doge but gives it utility from the get-go. It has a robust roadmap that includes an Augmented Reality app that will land sometime in 2023, allowing players to play with their Tamadoge Pets in the battling arena.
The developers are also priming Tamadoge Pets to be a part of other metaverses. Once the NFTs start to drop and the project is well into its roadmap, the team will begin working on #D renditions of these virtual pets. Development of Tamaverse is also on the horizon.
In addition to these exquisite features, another reason we believe will put many supporters to rally behind this token and take it to $1 is the absence of transaction tax. A transaction tax is what many crypto developers add to the project – taking a percentage of the earnings to fund the project for the long term.
The crypto projects take this route because of the lack of any innate utility. Tamadoge, on the other hand, does. And that is why the developers decided to drop the transaction tax – having complete faith in the ecosystem to generate wealth for the players and the developers.
These reasons make it possible for Tamadoge to reach $1 soon.
Tamadoge is currently in its beta presale on the website. It will last till 2nd September 2022, followed by the start of a general presale that will end sometime in Q4 2022 – presenting a huge opportunity for the early movers.
Shiba Inu is one of the world’s first memecoins and has a lot of backing behind it. There are organizations and even DEX dedicated to the Shiba Inu ecosystem. However, the token’s current value limits its market cap, and the trends around it are not generally bullish.
Tamadoge, on the other hand, has utility from the very beginning and has the interest of the crowd. The current beta presale is also going well. It is highly likely that by the time the general presale ends, many people will rally around Tamadoge, clearing the way for it to reach $1.
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