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The rebooted Terra LUNA was having one of the greatest cryptos runs in history, surging 247% on Friday. The token hit its all-time high at $6.72, but then it lost steam and collapsed to just $4.17. That is a 38% drop in value, amid renewed fears of surging inflation in the U.S.
Other coins in the Terra ecosystem aren't faring much better. LUNC has recorded a 43% drop, while TerraClassicUSD (USTC), which lost its US dollar peg in May, lost 10% of its value. It would seem that Terra is crashing back to Earth in a hurry.
The reasons behind LUNA's recent surge are still unclear, stoking rumors of speculation and insider trading. These only add fuel to the investors' panic, causing them to sell whatever LUNA they have in their portfolios.
As investors started dropping LUNA, they were looking for a safe place to park their money and one of the most popular destinations was Tamadoge. One of the most fascinating projects in 2022 has been gaining a lot of traction lately due to a highly successful presale and the buzz it created.
With the crypto market in renewed turmoil, predicting asset prices is a highly speculative task. The end of the war in Ukraine is still nowhere in sight, the energy crisis is worsening as winter approaches, and now the Consumer Price Index has revealed that the August inflation in the United States has surpassed the expected level, reaching 8.3%.
The investors fear that another major crash, similar to the one in May, is coming and are in bearish mode, selling off their assets. Only tokens like Tamadoge, whose value isn't necessarily tied to the financial sector, are faring better than the rest of the herd. However, their supply isn't infinite and it may soon run out, leading to a huge price surge..
When Tamadoge first appeared, many assumed it was just another memecoin trying to capitalize on the success of Dogecoin. However, it was soon revealed that the project is much more than that and the team behind the Tamadoge project has managed to create an amazing platform.
During the first 6 weeks of the presale, Tamadoge raised more than $16 million. Judging by the tempo of the token sale, it can be safely assumed that the original goal of raising $19 million for future development through presale will be easily surpassed. As the allocated supply of one billion tokens is almost at the end, it is getting harder and harder to buy TAMA, leading to an increased price.
Once the presale ends in Q4 2022, TAMA will begin a drive for CEX listing. The team is in negotiations with several major exchanges and we can expect to hear news about the first listing soon. With half of the total supply sold during the presale, we can safely assume a price surge once that happens.
Tamadoge combines meme power with a popular Play-to-Earn (P2E) concept, allowing players to earn real money in-game. The basic principle of the game is simple and based on the iconic Tamagotchi game, hence the name. TAMA is the native token of the Tamadoge ecosystem and the in-game currency.
Players are tasked with breeding, feeding, and training Tamadoges digital pets. Tamadoges come in a form of NFTs, just like all the accessories and upgrades players can buy for them. These NFTs can be bought and sold on the in-game marketplace, creating an additional income stream for the players.
As Tamadoges battle each other, their owners climb the leaderboard with each win, earning Dogepoints in the process. Dogepoints can be exchanged for TAMA, providing players with a steady income. This utility is what clearly sets TAMA apart from tokens like Dogecoin and Shiba Inu.
Terra Classic and Terra LUNA had a magnificent run during the last few weeks, but it would seem that it is now over. Investors are unloading LUNC at an alarming rate, which will only drive the price even lower than it is today. At the same time, they are looking for new investments and Tamadoge appears a logical solution, as one of the best cryptos to invest in during the crash.
