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The Bonfire cryptocurrency is one of the newest additions to the markets. It launched in early 2021, and it's now on its way back up after the crypto crash of 2022. It's one of the rare cryptos that experienced a much lower dip than where it started. Bonfire's early investors bought the token for $0.00000068, and it's currently priced at $0.000000007813. In other words, they lost 99% of their original investment, but things might look up in the next few years.
The question is – what is the latest Bonfire price prediction for the next few years? Does it have the utility and value needed to survive in the unforgiving world of altcoins? Are coins like Tamadoge really going to get where they promised? Find out more information below
Here's a quick overview of the Bonfire price prediction for the next few years. We'll explain everything in more detail below.
No Tracking on Coinmarketcap: Due to the huge price dip in the past few months, Bonfire is no longer tracked on Coinmarketcap. It's currently the 5836th best-ranked crypto.
Massive Drop in Daily Trading Volume: Bonfire's daily trading volume dropped below $5,000, less than a third of the 24-hour trading volume in Q1 2022.
Bonfire Twitter Recovers: The project's PR team is returning to Twitter, but the rest of the community is still dormant.
Bonfire On Reddit: Bonfire is still active on Reddit, posting monthly updates and other details, but the response rate is practically zero.
Before we get to the details about Bonfire, we have to mention the best meme coin presale in 2022, which could be one of the highest gainers in the next few years. Tamadoge is the latest edition to the Doge universe, and it uses the success of meme coins like Dogecoin and Shiba Inu as leverage to attract new investors. The project is still in its earliest stages, but it's already showing a lot of promise for the future.
Namely, Tamadoge is a meme coin blockchain project built according to the best industry practices. It aims to change how the world thinks about meme coins forever by creating a metaverse platform with high token utilization. However, the project also uses the Play-to-Earn formula to reward active users with extra tokens and a dedicated NFT store. Furthermore, the project is entirely built on the Ethereum blockchain, which means that the platform's native currency, TAMA, can be listed on CEXs such as Crypto.com, Binance, Coinbase, and others.
The team behind Tamadoge has put a lot of time and effort into developing a flexible platform that could explode in the next few years. For example, it uses scarcity to drive token prices higher and a total supply of 2 billion tokens. 50% are available in presale, 5% will be burned, and the rest will be used to improve liquidity. As a result, Tamadoge has the potential to surpass not only popular meme coins such as DOGE but also many other altcoins and blockchain projects. It's turning out to be one of the most exciting crypto projects of the year, and since it combines a diminishing supply with growing exposure, it has the chance to become one of the highest gainers on the market.
As mentioned above, Tamadoge takes place in the Tamaverse, a vibrant virtual world where users can meet, hang out, and train their digital pets called Tamapets. It's loosely based on a popular hand-held digital game from the 90s called Tamagochi, and like the original game, users have to take care of their Tamapets and ensure that they are happy, healthy, and fed at all times.
All pets and in-game items double as NFTs, allowing users to buy, sell, and exchange them using the TAMA tokens. The tokens work as the platform's native currency. There are no transaction fees involved, which is always a great addition. You need TAMA tokens to buy pets, accessories, food, and other items in the Tamaverse and the Tamadoge NFT Petstore. As you play the game, your pets will grow and become stronger, giving you an edge over competitors in the arena.
The Tamaverse will offer plenty of fun activities and challenges for you to enjoy. As you complete levels and upgrade your pets, you win Dogepoints, and the users with the most points at the end of the month get TAMA tokens from the prize pool. 65% of all tokens used within the metaverse are sent to the prize pool so that the rewards can be massive.
Tamadoge is created according to the best industry practices and is currently undergoing a security audit by Solid Proof. It's also fully KYC'd on CoinSniper already, even though it's still in its earliest stages. The project should launch in Q4 2022, expanding its features and games throughout 2023. You can buy TAMA tokens in presale right now and become one of the earliest investors since there are no private sales. If you buy the tokens right now, you could get some incredible returns by the end of the year.
The Tamadoge presale is available until October 2022, giving you a perfect chance to buy your TAMA tokens at a considerable discount. Half of the 2 billion tokens on presale and over 50% have already been sold. So you have to act quickly and buy your tokens as soon as possible before they run out.
You can purchase TAMA tokens for $0.01, with a minimal investment of $150. The tokens are available on the official Tamadoge website that accepts payments through debit/credit cards, USDT, or ETH. If you purchase the tokens before the supply runs out, you could get 100x gains once the project goes live. Considering that it's one of the best crypto projects in the past few years, it could explode in the next few years.
Beta presale of this token started on 25th July 2022. The Beta presale should end on 2nd September, and the general presale – following the presale- will end in Q4 2022.
Everyone interested can buy TAMA with ETH or USDT, and there is no minimum amount of money required for the purchase. However, the Tamadoge team advised everyone who wants to buy the tokens to make the purchase of a minimum of $150 worth of ETH or USDT.
The price is $0.01 for 1 TAMA or $100 for 10,000 TAMA.
Here is a short guide on how to buy TAMA tokens:
Bonfire was one of the promising crypto projects in 2021. It reached the markets in April and showed great promise over the next few months. However, in June, Bonfire's price dropped, losing close to 99% of its original value.
It seems that Bonfire shares its faith with many other poorly-designed altcoins. Unfortunately, it can also turn out to be a scam or a "rug pull," so its future is not looking great. The BONFIRE token has been at its lowest point for over nine months, and that alone is enough to give you a hint that there's definitely something wrong with the project.
In short, Bonfire doesn't have enough use cases to compete with other crypto projects. Moreover, it has been underperforming from day one, even during the crypto bull run in late 2021. It was advertised as a way to protect your investments from volatility in a bear market. However, that seems like an empty promise. Even if you go to the official website and read through the whitepaper, you'll see that "Bonfire provides users with shelter in an uncertain crypto market."
However, if you broaden your search and talk to crypto investors on Reddit, they all agree that Bonfire is one of the worst investments they ever made. The project used the massive crypto hype in 2021 to practically steal investors' cash and run. It's far from a good investment, especially for beginners who should stick to CEXs when buying cryptocurrencies.
Bonfire was initially advertised as a safe haven for investors seeking shelter in volatile crypto markets. It promised to give investors a part of the transaction taxes on all token sales. The approach was supposed to increase their profits tenfold.
But when you look at things more closely, red flags are everywhere. For example, the project uses informal language as it advises investors to hold on to their tokens, hoping that the situation will turn into profits, while early investors are dumping tokens far and wide.
That said, the project started on the right foot. It had over 100,000 investors within the first few weeks after the launch, leading to 1,700% gains in the first month. However, once the investors sold their tokens at the highest price, the project entered a downturn, and it's not looking like it will rebound soon.
Apart from poor advertising and no token utilization, the project is also surrounded by many other problems.
The main problem with the project is that it doesn't have anything to offer when compared with countless other altcoins on the markets. It tried to copy some features of more successful tokens, but since all of them have been seen before, Bonfire doesn't have what it takes to attract investors.
You don't have to be a crypto expert to see through the poorly written whitepaper with unrealistic promises of high gains. All of the information on the site also feels generic and general. It can be applied to any other crypto project without a problem. Lack of specific information is never a good sign, and most crypto communities didn't buy the story.
The description says that Bonfire is run by an experienced team of passionate developers trying to build a flexible, decentralized finance platform ideal for short and long-term traders alike. That's literally the description of thousands of altcoins on the market. If it launched in 2016, Bonfire could have evolved into a real digital asset by 2022. However, since it became available in 2021, the competition was far stronger, and Bonfire couldn't stand next to many other popular cryptocurrencies.
Bonfire couldn't deliver on its promises like many other crypto projects that failed before. The project's roadmap promised a lot of new features by 2022, but the developers started falling behind the objectives less than two months after release. The biggest issue was the Bonfire app, which was supposed to reach the markets in Q2 of 2021 but never did.
The roadmap also promised to hold weekly AMA events and put more effort into billboard ads. As you can probably guess, none of that happened, except for a few AMA videos that failed to answer any questions. In short, Bonfire didn't meet its goals, couldn't launch the app, and didn't communicate with the community at all. If the developers fail to deliver simple promises, such as weekly AMAs, they can't possibly deliver on much more complex objectives.
Sadly, it's not the only blockchain project that lasted only a few months, and even though BONFIRE tokens are still in circulation, they have lost 99% of their value and entire reputation.
Sadly, Bonfire is one of the worst altcoins on the markets. Everything about the project is shady, to say the least, and the lack of support, new features, and communication resulted in a 99% price loss after only two months on the markets. Therefore Bonfire is not a good investment at all.
If you want to invest your money in a blockchain project that has the potential to outgrow all expectations, the Tamaverse is the best option in 2022. It's designed according to the best industry practices, and it's got the potential to become the next big thing in the meme coin ecosystem. So buy TAMA tokens today and watch your investment grow steadily in the next few years.
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Disclaimer: Analytics Insight does not provide financial advice or guidance on cryptocurrencies and stocks. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. This article is provided for informational purposes and does not constitute investment advice. You are responsible for conducting your own research (DYOR) before making any investments. Read more about the financial risks involved here.
