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5 Reasons to Be Bearish on Shiba Inu Price and Bullish on Tamadoge

Out of several ecosystems in the cryptocurrency industry, the meme Shiba Inu sub-sector is one of the best performings, having surpassed the $10 billion market estimate. Shiba Inu, launched in mid-2020 on the Ethereum network, dubbed itself the Dogecoin killer. According to a report, Shiba Inu’s unknown creator stated that the meme currency would replace the previous funny digital asset.

According to a report, the unknown creator of Shiba Inu stated that the meme coin would replace the previous amusing digital asset. Many updates have been released since then, including ShibaSwap and Shiboshi NFTs, a non-fungible token (NFT) game.

5 Reasons to Be Bearish on Shiba Inu Price

The Terra collapse precipitated a recent bearish trend in the cryptocurrency market. It shook crypto investors’ confidence and raised concerns about the volatility of the coins. Such investor skepticism has resulted in a massive bearish trend in the market, particularly in the meme-crypto segment. The market sentiment for Shiba Inu continues to be bearish amid a lack of trust in cryptocurrencies negatively impacting SHIB prices.

Following are the top 5 reasons to back up bearish bias in the Shiba Inu price:

1. Lack of Utility

One of Shiba Inu’s most serious problems is that it lacks distinguishing characteristics when compared to the thousands of other cryptocurrencies on the market. As a result, it has received little acceptance, particularly from businesses, which would give SHIB exposure outside of the cryptocurrency industry.

By 2022, SHIB, for instance, had been used as a payment mechanism by less than 100 firms. This may reduce Shiba Inu’s value, particularly when competing with high utility cryptocurrencies such as Bitcoin and Ethereum.

2. A Slowdown in Potential Growth

During the 2020/21 bull run, Shiba Inu was one of the most successful cryptocurrencies. This was after it had increased by 48,000,000%. While this was beneficial in that it brought Shiba Inu to the forefront of public attention, it complicates Shiba Inu as an investment for someone purchasing today. This is because a large number of customers purchased in 2020/21.

Despite the current downturn, many investors are still making huge profits and have an incentive to sell. This means that, even at current levels, Shiba Inu could fall further if whales decide to sell their holdings and invest in newer cryptocurrencies or other assets.

3. ERC-20 Token

Shiba Inu is based on the Ethereum network. While this has advantages due to Ethereum’s dominance, it is not without risks. One of them is that as the value of Ethereum falls, the value of ERC-20 tokens falls as well.

As a result, as an investor, you should keep an eye on the Ethereum ecosystem as a whole. It’s a compelling case for considering Shiba Inu alternatives as part of a well-rounded cryptocurrency strategy.

4. Tokenomics 

One of the primary factors in determining an asset’s future worth is the number of tokens in circulation. The Shiba Inu currency appears to have 590 trillion tokens in circulation and a total supply of 1 quadrillion in the case of the Dogecoin killer. Because there is too much of an asset on the market, the token is designed to be inflationary, resulting in low purchasing power.

5. Infinite Competition

Shiba Inu is a straightforward breed, and It lacks a solid infrastructure. Thus it contributes nothing to the crypto financial industry. That is, it can only be used for transactions.

In contrast, popular transactional currencies with high usage rates include Bitcoin, Litecoin, Bitcoin Cash, Ether, Monero, ZCash, Dash, XLM, and Dogecoin. As a result of the infinite competition in the transactional currency space and the lower usage of SHIB in this field, the SHIB token remains bearish.

Tamadoge – The Best Shiba Inu Alternative

Now let’s have a look at few arguments why Tamadoge might be the next big thing in the crypto and meme space:

1. Tokenomics of Tamadoge (TAMA)

The meme coin will have a maximum ceiling of 2 billion from the start, and around 5% of every Tamadoge retail purchase will be burned utilizing the burning process. TAMA is a cryptocurrency that is deflationary. One of the reasons behind a bullish trend in TAMA could be the 30% of tokens spent will be utilized for marketing and development.

Whereas, the remaining 65% will be added to the prize pool. Furthermore, around 30% of the total tokens will be released and utilized to support the project over the following decade.

2. Tamaverse

Each Tamadoge NFT comes with a fully rigged and animated 3D pet model. Tamadoge NFTs will be able to be integrated into existing metaverse environments as a result of this.

Tamadoge is committed to looking for partnership opportunities that will allow you to walk your Tamadoge pets in the metaverse as soon as the token is available. A Tamadoge augmented reality app will also allow you to stroll your Tamadoge in real life. Tamaverse will create a virtual cocoon in which Tamadoge NFTs will be able to merge with current metaverse surroundings.

3. Play-To-Earn (P2E) Dogecoin

Tamadoge will also have a TAMA battling arena in the style of Axie Infinity. Tamadoge pets will compete for experience points here. The top Doge on the Tamadoge scoreboard for the week will be the greatest earning.

In addition, the winner will get benefits from the weekly play-to-earn (P2E) pool. Tamadoge is a multi-utility token that offers traders a variety of use cases, as opposed to Dogecoin, which has acquired popularity because of its strong social media backing.

For future postings on decentralized and managed exchanges, a 20% reservation has been established. Tamadoge is also a deflationary asset since 5% of all tokens spent are burnt. This ensures supply never surpasses demand, increasing the coin’s long-term value.

4. TAMA is Anti-Rugpull

Rugpulling is a form of fraud committed by a broker or dealer in securities when the securities are sold to an unsuspecting purchaser for less than their current market value. The term rug-pulling comes from the television series “Doctor Who,” where the villain, The Doctor, would pull out a rug from under his opponents, causing them to fall over.

Crytpo scam schemes abound in the crypto world, with unknown entrepreneurs taking consumers’ monies once the presale is over. As a result, credible projects and the top cryptocurrency presales are often validated on the CoinSniper platform. Tamadoge has also successfully passed the CoinSniper KYC verification procedure. Tamadoge has also examined its smart contracts on the Solid Proof platform to ensure they are secure.

5. Functionality for Mobile Devices

In addition to the metaverse, the Tamadoge team will release a standalone smartphone app dubbed the Tamadoge augmented reality (AR) app. To make it easier for consumers to interact with their digital Tamadoge pets, the mobile experience will allow them to buy, feed, care for, and combat other Tamadoge NFTs. Aside from acting as a bonding tool for owners and their dogs, the app will also include social elements and prizes, allowing for a full social experience.

Where to Buy Tamadoge?

Tamadoge (TAMA) is still on beta sale, which will last until September 2, 2022, at a reduced price. TAMA has already raised $196,016.59 USDT. If you are looking to invest in altcoin, it could be a good opportunity to buy Tamadoge

Check out how to set up a crypto wallet to buy Tamadoge.

Tamadoge Socials

Website – tamadoge.io
Instagram – @tamadogecoin
Telegram – t.me/tamadogeofficial (admins will never DM you first)
Twitter – @tamadogecoin

Related:

Altcoin Season Soon as Bitcoin Dominance Set to Drop
5 Reasons to Be Bearish on Shiba Inu Price and Bullish on Tamadoge
Fastest Growing Cryptocurrency 2022

Tamadoge (TAMA) – Next Big Meme Coin

Our Rating

Beta Sale Ends Sept 2022 – tamadoge.io
Deflationary, Low Supply – 2 Billion
Move to Earn, Metaverse Integration on Roadmap
NFT Doge Pets – Potential for Mass Adoption
Play to Earn Utility – Rewards Token

The post 5 Reasons to Be Bearish on Shiba Inu Price and Bullish on Tamadoge appeared first on Business 2 Community.

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Written by Ali B

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