5 Reasons to Be Bearish on Cardano Price and Bullish on Tamadoge
08 Setembro 2022 - 2:28PM
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Cardano has proven to be an exciting crypto project, yielding
investors high returns. But the crypto market crash has made some
Cardano investors bearish. Tamadoge is a new NFT game that
investors are bullish on because of its utility and rewards. Can
Cardano Drop Lower? Crypto bear markets can be brutal, and Cardano
(ADA) investors watched the coin lose 87% of its value after
reaching an all-time high of $3 in August 2021. But many investors
are wondering, can ADA go lower? Cardano Rallies ADA has provided
investors with 7,000% returns because of a rally that started at
the end of 2017 and lasted until the beginning of 2018. And just
recently, Cardano had another rally at the beginning of 2021,
climbing up just over 1,600%. If that wasn’t enough, ADA retraced
and then went for another run to reach its all-time high. Since
then, ADA buyers have run out of steam and the crypto bears have
taken over. Although ADA has lost 87% of its value, it’s possible
that it can lose more. After Ethereum and Bitcoin topped out during
the 2018 rally, both of these top cryptocurrencies lost just over
90% of their value in the subsequent years. So it’s possible that
ADA can dip lower before it starts climbing up again. Bearish
Market Sentiment It’s not easy for investors to watch several red
candles a few weeks in a row. Many crypto investors have lost hope
in another ADA rally, and the worst part is that many believe that
the bottom isn’t yet in. The financial markets can be a
self-fulfilling prophecy because panicked investors sell as they
believe that the price will go lower. But eventually, the ADA price
will bottom, and it will be time to buy Cardano. Why is Tamadoge
(TAMA) Bullish? Tamadoge is anything but another meme coin. It aims
to outcompete Dogecoin because it offers utility, entertainment and
rewards. A Successful TAMA Presale The Tamadoge token is currently
holding one of the best crypto presales, raising more than $13
million in a month since its launch. The Tamadoge presale is still
underway and ends in Q4 2022, so investors need to get in now as
the token’s price is increased incrementally as certain stages of
the presale are reached. Exchange Listings The most successful
crypto projects are listed on major centralized exchanges. Tamadoge
will soon be listed on LBank, a centralized exchange. But
proponents of decentralized exchanges will also be able to buy TAMA
on Uniswap. Being listed on these two exchanges means that more
investors will have exposure to it and the coin’s liquidity will
increase. With more investor eyes on TAMA imminent in the near
future, it may cause demand to increase. Utility, Rewards and
Burning Scarce assets are more valuable than ones easily available.
TAMA’s developers burn 5% of all transaction tokens, and they have
limited the supply to 2 billion. This deflationary coin’s demand
should grow after each burning. Players can use the TAMA
cryptocurrency to raise digital pets and compete against other
players to reach the top of the leaderboard and earn the highest
rewards, which can be redeemed for other currencies. A Cardano
Alternative to Invest In While many crypto investors have turned
bearish on Cardano, NFT investors are excited about Tamadoge.
Thanks to TAMA being a deflationary asset that provides utility and
rewards, it’s turning out to be one of the best future crypto.
TAMA’s presale has raised almost $5 million in a few weeks, and its
listing will only help to draw more attention to the coin and give
it additional exposure.
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