on the crypto
Cardano has proven to be an exciting crypto project, capable of offering investors high returns. But the collapse of the cryptocurrency market has made some Cardano investors bearish. Tamadoge is a new NFT game that investors are bullish on about its usefulness and rewards.
Can Cardano go down again?
Bear markets in cryptocurrencies can be brutal, and Cardano (ADA) investors have seen the coin lose 87% of its value after hitting an all-time high of $ 3 in August 2021. But many investors are wondering: Can ADA get off again?
The Cardano rally
ADA has provided investors with returns of 7.000% thanks to a rally that started in late 2017 and lasted until early 2018. And just recently, Cardano recorded another rally in early 2021, climbing just over 1.600. %.
As if that weren't enough, ADA retraced and then ran another run to reach all-time highs. Since then, ADA buyers have run out and cryptocurrency bears have taken over. Although ADA has lost 87% of its value, it is possible that it may lose even more.
After Ethereum and Bitcoin peaked during the 2018 rally, both major cryptocurrencies lost just over 90% of their value in the following years. It is therefore possible that the ADA may go down before starting to go up again.
Bearish market sentiment
It is not easy for investors to observe different red candles for a few weeks in a row. Many cryptocurrency investors have lost hope in another ADA rally, and the worst of it is that many believe the bottom hasn't been hit yet.
Financial markets can be a self-fulfilling prophecy as panicked investors sell because they believe the price will drop. But eventually the ADA price will hit bottom and it will be time to buy Cardano.
Why is Tamadoge (TAMA) bullish?
Tamadoge is anything but another meme coin. It aims to outperform Dogecoin because it offers utilities, entertainment and rewards.
A successful TAMA presale
The Tamadoge token is currently holding one of the best cryptocurrency presales, raising more than $ 13 million in a month since its launch. The Tamadoge presale is still ongoing and will end in the fourth quarter of 2022, so investors need to get involved right away, as the price of the token progressively increases as certain stages of the presale are reached.
Listing on exchange
The most successful cryptocurrency projects are listed on major centralized exchanges. Tamadoge will soon be listed on LBank, a centralized exchange. But supporters of decentralized exchanges will also be able to buy TAMA on Uniswap.
Listing on these two exchanges means that more investors will be exposed to the currency and its liquidity will increase. The imminent arrival of more investors on TAMA could cause an increase in demand.
Utility, rewards and combustion
Scarce goods are more valuable than readily available ones. TAMA developers burn 5% of all transaction tokens and capped the supply to 2 billion. The demand for this deflationary coin is expected to grow after each burn.
Players can use TAMA cryptocurrency to raise digital pets and compete with other players to reach the top of the leaderboard and earn the highest rewards, which can be redeemed in other currencies.
An alternative to Cardano to invest in
While many cryptocurrency investors have gone bearish on Cardano, NFT investors are excited about buy Tamadoge. Thanks to the fact that TAMA is a deflationary asset that provides utility and rewards, it is proving to be one of the best crypto futures.
TAMA's presale raised nearly $ 5 million in just a few weeks and its listing will help draw attention to the coin and give it further exposure.
