in ,

Can Saitama Inu Reach $0.01? • Benzinga Cryptocurrency


Decided you want in on the action? You can transfer ETH from eToro to a crypto wallet to buy in Saitama Inu on Uniswap!

Memecoins have become increasingly popular in the past year. Tokens like Shiba Inu (SHIB) have risen over 100,000,000% and have made many investors rich. Many are hoping to find the next coin to have exponential gains, regardless of the token’s utility. One of these tokens that recently gained traction is Saitama Inu. Many wonder if SAITAMA can continue to trend upwards. Specifically, many wonder if the token can beat the odds and reach $0.01. 

What is Saitama Inu?

Saitama Inu is an ERC-20 token. This means it uses the Ethereum blockchain and uses smart contracts to power the token. ERC-20 is a standard that many memecoins use as it is fairly easy for developers to create new coins. 

The coin claims to be a store of value and uses a unique burning system in order to retain this value. 2% of all transactions are burned, meaning they are permanently taken out of circulation. This limits the supply and allows each token to be worth more. 4% of all transactions are also redistributed to holders.

The project also hopes to deploy an “anti-whale” feature. This would prevent large holders from influencing the price by buying or selling large amounts of the token. However, this feature is not yet available and is largely unclear. 

The project also hopes to add multiple DeFi features to support the value of the token. One of these features is the SaitaMask wallet. The developers hope the wallet will be a safer way to store SAITAMA, as well as making it easier to buy and sell the token. They are also hoping to create an NFT marketplace where users can buy and sell NFTs. However, both of these projects still have a long way to come and may not be released for some time, if ever. 

Saitama Inu Market Capitalization

Saitama Inu currently has a market cap of just over $4 billion, with a supply of 44,611,512,201,223,700 tokens. It is currently trading at $0.00000009224 per token. It is up 637% in the last month and was up 1,600,000% at its all time high in late September. 

Can Saitama Inu Hit $0.01?

Many SAITAMA holders are hoping for a price increase. One of the major price targets for the token is $0.01. However, a price this high is extremely unlikely. At the current supply, a price of $0.01 would make the market cap $446,115,122,012,237. This is approximately 165 times the size of the entire crypto market. A price this high would most likely crash the economy and cause irreparable damage.

Even though 2% of all transactions are burned, this is extremely miniscule when compared to the market cap. The average volume is around $50 million. 2% of this is burned, or approximately $1 million per day. Compared to the increasing market cap of over $4 billion, this is almost nothing. Burning tokens does help hold the value, but not nearly enough for the price to reach $0.01.

How to Buy Saitama Inu

Saitama Inu is a very new project, so it is not listed on any centralized exchanges. Because of this, you will need to obtain the token through a decentralized exchange (DEX) such as Uniswap

The first step in purchasing SAITAMA is to open an account on a crypto brokerage. This typically requires an email and password and basic personal information. Some great options are eToro, Coinbase, Voyager and Gemini. On the centralized exchange, navigate to Ethereum (ETH) and purchase the desired amount. Then send it to a wallet that is linked to Uniswap. 

Once you have ETH on a wallet linked to Uniswap, you can navigate to the ETH/SAITAMA pair and execute the trade. From there. Your SAITAMA will be stored in your wallet. You may need to set the slippage to 10-15% in order to cover the fees associated with the transaction. 

If you are looking for more detailed instructions on how to purchase the token, consider taking a look at our guide on How to Buy SAITAMA Inu. 


get started

securely through eToro’s
website

Disclosure: eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.

1 Minute Review

eToro, headquartered in Cyprus, England and Israel, has provided forex products and other CFD derivatives to retail clients since 2007. A major eToro plus is its social trading operations, including OpenBook, which allows new clients to copy trade the platform’s best performers. Its social trading features are top notch, but eToro loses points for its lack of tradable currency pairs and underwhelming research and customer service features

Best For

  • U.S. based cryptocurrency traders
  • Social and copy traders
  • Simple user interface
  • Community engagement and following other traders
Pros

  • 25 cryptocurrencies
  • Expansive network of social trading features
  • Large client base for new traders to imitate
Cons

  • U.S. traders can only buy cryptocurrency

1 Minute Review

Coinbase is one of the Internet’s largest cryptocurrency trading platforms. From Bitcoin to Litecoin or Basic Attention Token to Chainlink, Coinbase makes it exceptionally simple to buy and sell major cryptocurrency pairs. 

You can even earn cryptocurrency rewards through Coinbase’s unique Coinbase Earn feature. More advanced traders will love the Coinbase Pro platform, which offers more order types and enhanced functionality.

Though Coinbase doesn’t offer the most affordable pricing or the lowest fees, its simple platform is easy enough for complete beginners to master in as little as a single trade.

Best For

  • New cryptocurrency traders
  • Cryptocurrency traders interested in major pairs
  • Cryptocurrency traders interested in a simple platform
Pros

  • Simple platform is easy to operate
  • Comprehensive mobile app mirrors desktop functionality
  • Coinbase Earn feature rewards you with crypto for learning about available coins
Cons

  • Higher fees than competitors

1 Minute Review

Gemini is a cryptocurrency exchange and custodian that offers investors access to 26 coins and tokens. Founded in the US, Gemini is expanding globally, in particular into Europe and Asia. Offerings include both major cryptocurrency projects like Bitcoin and Ethereum, and smaller altcoins like Orchid and 0x.

Gemini is 1 of the only brokers with multiple platform options based on skill level. New investors will love the streamlined interface of Gemini’s mobile and web apps, while advanced investors might appreciate all the tools that come with ActiveTrader. 

In addition to a host of platform choices, Gemini users also have access to insured hot wallets to store tokens without worrying about digital asset theft. Learn more about what Gemini can do for you in our review.

Best For

  • New investors looking for a simple mobile and web app
  • Experienced investors who need a more advanced platform with more tools
  • Users looking for a 1-stop-shop to buy, sell and store all of their coins
Pros

  • Easy and quick signups — can get started in as little as a few minutes
  • Multitude of platforms to accommodate traders of all skill levels
  • Hot wallets include insurance to protect your from theft and hacking attempts
Cons

  • Charges both a commission and a convenience fee for users buying and selling through the desktop or mobile app

There’s an Easier Way To Invest: Dharma

To many, using a decentralized exchange can be intimidating. These applications can be hard to navigate, and it involves sending cryptocurrencies between different wallets to complete your transaction. Dharma is a mobile app for iOS and Android that makes buying cryptocurrency from decentralized exchanges easy. Simply download the app, fund your account, and you’re ready to invest in any cryptocurrencies available on decentralized exchanges. No need to transfer your funds across wallets –– you can complete the entire transaction through Dharma’s mobile app!

1 Minute Review

Dharma is a mobile application that makes interacting with decentralized applications on Ethereum’s network easier than ever before. You can fund your account with a debit card, unlike any other Ethereum Wallet. By seamlessly connecting your wallet to decentralized applications, you can start earning interest on your cryptocurrency within minutes. Sign up today to get access to trade over 70,000 altcoins.

Best For

  • Those looking to immediately purchase crypto with fiat (USD)
  • Those looking to purchase altcoins, memecoins, etc.
  • Those looking to immediate price action to a long list of tokens
Pros

  • Users can buy crypto directly from bank accounts
  • Only takes 5-10 minutes to begin buying crypto from fiat
  • No network fee trading on Polygon
Cons

  • Does not support some major tokens (Bitcoin, Litecoin, etc)

Are Memecoins a Bubble?

Many opponents of memecoins say that they are bubbles and prices will eventually fall. They cite the lack of uses to back up the value. Many memecoins are simply poor stores of value with no other projects or uses. They say that this lack of projects cannot justify billion dollar market caps. They believe that the bubble will eventually burst and investors will be left with nothing. 

Conversely, supporters of memecoins can form strong communities that can help raise the price. This was shown with Floki Inu (FLOKI), whose price rose drastically due to an active twitter community. These communities can have huge impacts on the prices of memecoins.

Some projects are also hoping to create projects to back up the value. Shiba Inu has a DEX called ShibaSwap and Saitama Inu is hoping to build an NFT marketplace. These projects may attract more users and investors.

What are Memecoins?

Memecoins are token projects based on internet memes or satire. Arguably, the first memecoin was Dogecoin (DOGE), which is based on a dog meme. The use of these popular images and memes can be used to attract investors and boost the price.

Some memecoins have risen dramatically in the past year, while others have lost all value. They are often extremely volatile and very risky investments. If you plan on investing in memecoins, make sure you are aware of the risks. 

What’s a Realistic Price Target For Saitama Inu?

Saitama Inu hopes to set itself apart from other memecoins by creating projects to retain the value of the token, ranging from a wallet to an NFT marketplace. If these projects are deployed successfully, they may positively impact the price. The burning mechanism can also help raise the price as it increases the value of each token. However, these positive aspects of the coin are reliant upon the release of projects and volume. If 1 or both of these does not work in favor of the Saitama Inu, then the value may depreciate. Conversely, if there is high volume and the projects are successfully released, a price of $0.00000014, or around a 50% increase, may not be out of the question.

Benzinga crafted a specific methodology to rank cryptocurrency exchanges and tools. We prioritized platforms based on offerings, pricing and promotions, customer service, mobile app, user experience and benefits, and security. To see a comprehensive breakdown of our methodology, please visit see our Cryptocurrency Methodology page.



Source link

What do you think?

Written by Shiba Inu

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

      Cardano Active Addresses Increased by Over 200% Despite ADA Price Slip

      Mr Beast vs. Netflix Squid Game Reaction Gets Completely Roasted On Twitter