After a great run for Bitcoin over the past week, the price plummeted 9.3% shortly after the August inflation data was released.
BTC is currently priced at $20,316, having previously traded at $22,400 – the asset’s one-month high.
Apparently the biggest catalyst for this sudden decline is the release of the US CPI (Consumer Price Index) for August.
The data showed that inflation rose much more than expected, which investors took as a sign that the Federal Reserve will continue to tighten financial conditions. This will very likely affect trading of digital assets.
Ethereum was also impacted by the CPI report, posting a 6.6% drop, taking the price down to $1,606.
Interestingly, while the overall crypto market is struggling, the pre-sale for TAMA tokens is still going strong with no signs of a drop in demand.
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Tamadoge Presale Unaffected – Huge wins still on the radar
Even though the vast majority of cryptocurrencies are currently trading in the red due to the inflation data, Tamadoge’s pre-sale remains intact.
Demand is growing day by day and investors are fist-buying tokens over the past few weeks.
Tamadoge (TAMA) is a meme-crypto that combines NFT technology, P2E gaming, real-world utilities, and its own metaverse – the Tamaverse.
In the Tamaverse, players can explore different platforming opportunities and mint NFTs in the form of digital Tama pets.
If cared for and trained properly, players can later use these pets in battles and completing missions, earning them Dogepoints. Each month, those with the most Dogepoints win exciting platform prizes.
This combination of different technologies is one of the main reasons why the presale was so successful.
So far, 80% of the released tokens have been sold out and it seems that the pre-sale will only last a few more weeks.
At the time of writing, traders can buy 40 TAMA tokens for 1 USDT, but the price will increase with every 100 million TAMA sold.
Specifically, early investors who purchase $100 worth of TAMA coins can participate in the project’s exciting $100,000 giveaway.
Tamadoge could see a 100x return by the end of 2022 given the hype surrounding the project, according to numerous industry experts and analysts.
Additionally, LBank has just confirmed that it will list Tamadoge once it goes viral, and several more major CEX listings are expected.
Real-world utility, metaverse and NFTs, a P2E game, CEX listings…it’s no big surprise that so many investors believe Tamadoge will dethrone SHIBA and DOGE in 2023.
There is currently no meme coin on the market that comes close to offering the same features and benefits as TAMA.
Tamadoge poses no “rug pull” risk as the crypto is KYC verified by CoinSniper and audited by SolidProof – it is 100% secure.
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How to buy Tamadoge
Here is the exact guide to follow for your first TAMA token purchase.
First, make sure you have a MetaMask wallet installed in your browser, or use one of the wallets supported by Wallet Connect (we recommend Trust Wallet).
Purchasing through a desktop browser ensures a smoother shopping experience. We recommend MetaMask for this.
If you’re shopping on mobile, we recommend using Trust Wallet and connecting via the built-in browser (just copy https://buy.tamadoge.io into the Trust Wallet Browser).
Once you have your preferred wallet provider ready, click “Connect Wallet” and select the appropriate option. For mobile wallet apps, you must select “Wallet Connect”.
You then have three options: Buy ETH with a card. This option allows you to buy ETH sent to your wallet from our partner Transak.
You can then use this ETH to buy TAMA. Click Buy Eth With Card to get started and follow the on-screen steps. We recommend buying at least $15 worth of ETH to cover the TAMA minimum purchase. Buy TAMA with ETH.
Once you have enough ETH in your wallet (if you don’t have ETH or USDT, please choose option 1 to buy ETH first), you can now exchange your ETH for TAMA. Enter the amount of TAMA you want to buy (1,000 minimum) then click “Convert to Eth”.
Your wallet provider will ask you to confirm the transaction and will also show you the cost of gas. Buy TAMA with USDT. Please make sure you have at least $15 USDT in your wallet before beginning the transaction.
Enter the amount of TAMA you wish to purchase (minimum 1,000). Click Convert USDT. You will then be prompted TWICE to approve the purchase. The first approval is for the USDT contract and the second for the transaction amount. Please make sure you go through both approval steps to complete the transaction.
Once the pre-sale is complete, you can claim your TAMA tokens. We’ll post details at a later date, but you’ll need to visit the main page https://tamadoge.io and click the gold Claim button.
Use the contract information below to add the TAMA token to your wallet.
token icon: TAMA
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New inflation data causes BTC and ETH to plunge – what’s next?
According to CoinMarketCap, Bitcoin is down 9.3% in the last 24 hours, bringing an end to its great weekly run.
The entire crypto market is currently struggling as August’s CPI print came in 0.2% higher than initially expected.
This could very well lead to a 75 or 100 basis point rate hike by the Federal Reserve in the following week, which will only put more pressure on the volatile crypto market.
While bitcoin has been viewed as one of the best anti-inflation assets, this situation suggests otherwise as crypto and tech stocks are currently the top sells by investors.
Just a few days ago, Bitcoin surpassed its $22,000 target, creating a lot of positive sentiment around the token, but it didn’t last long.
Nonetheless, it is still trading above the $20,000 level, which is a key target to hold at the moment.
Ethereum is also down 6.6%, but the upcoming merger could change things for the better.
The long-awaited merger, which will transform ETH from a proof-of-work model into a proof-of-stake model, is scheduled to take place on June 15th September and will ultimately improve the transaction speed and scalability of the token and reduce network fees.
While some analysts are certain that the merger will boost Ethereum’s value, others expect a bearish trend due to the Fed’s rate hike.
Overall, only one more volatility can be guaranteed.