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With the increasing popularity of cryptocurrencies, new altcoins are gaining traction every day. Saitama Inu (SAITAMA) is yet another memecoin that operates on Ethereum's blockchain. While it offers big promises, its price appreciation is massively due to hype around memecoins on social media. Let's take a look at a few Saitama Inu price predictions and see where the price is potentially headed.
What Is Saitama?
Saitama is a community-driven ERC-20 token, which means it was built on the Ethereum network. Saitama claims its goal is to educate the next generation of investors to make crypto investments simpler and safer by providing content that teaches traders how money works while they invest, opening opportunities for wealth creation. To do this, Saitama plans to develop its own ecosystem, including a marketplace, a software wallet and a non-fungible token (NFT)-based launchpad platform. However, most of these features haven't been released, and the token's utility remains low.
Saitama has a protocol in place to burn 2% of an investor’s tokens with every transaction in an attempt to increase the value of the Saitama Inu token. It also claims to have an “anti-whale” mechanism that will prevent large investors from drastically affecting token prices. These kinds of features are found in many memecoins and extremely few serious projects.
Saitama recently made major upgrades and updates, forcing it to migrate to a new contract. This means that the old Saitama Inu coins turned into Saitama Inu V2 tokens. The price is Saitama Inu V2 tokens is much larger because the supply was drastically reduced. Other changes included more token burning and the implementation of a marketing wallet which a small percentage of transaction taxes goes towards. This migration, like essentially every other token migration, is a bit controversial but it seems to have gone much smoother than many others. Many more bullish Saitama Inu price predictions are cropping up after these important changes.
Saitama Market Position
Using its team's figures, Saitama V2's market cap is just under $100 million, with a price of $0.0016 per token. Although the price of the token is a fraction of a cent, the total market capitalization is quite large. Some influencers give absurd Saitama Inu price predictions, saying that the market cap would grow to absurd prices that would increase its market capitalization roughly $400 billion. This would make Saitama a top 3 coin behind Bitcoin (BTC) and Ether (ETH). Of course, this isn't realistic.
Where To Buy Saitama Inu
There are many different options when it comes to purchasing altcoins like Saitama. You can purchase Saitama on Gate.io or use a decentralized exchange (DEX) like Uniswap to swap another crypto for Saitama. A decentralized exchange is a great alternative for traders looking to avoid fiat or wishing to exchange a different altcoin. To use a DEX, you’ll need to buy Ether on a cryptocurrency exchange. Some great choices are eToro, Gemini.
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Saitama Inu Price Prediction: When Will Saitama Inu Reach $0.0000008?
Just like nearly every other memecoin, it's hard to find anything other than a bullish Saitama Inu price prediction. Everyone who owns it wants to constantly sing its praises, hoping for a pump and everyone else doesn't care enough to weigh in. Influencers have thrown out various Saitama Inu price predictions but one of the most common is that it will soon reach $0.0000008. For Saitama to reach this price target would require over 30 times growth from the current market value. This increase is completely dependent on trader volume as well as project growth. If the community continues to grow and Saitama launches all the features it claims it will, Saitama could see 10 times gains in the future. However, this would mean the market cap of Saitama Inu would have to reach $10 billion, which is highly unlikely.
In November 2021, Saitama has no current use cases, and the project is widely speculative at this point. Considering all the other altcoins available to investors, users face a real possibility that Saitama Inu may never reach $0.0000008.
Where To Store Saitama Safely
When considering how to store your Saitama, there are 2 paths to choose from: software wallets and hardware wallets.
- A software wallet is an application on your computer or mobile device.
- A hardware wallet is a special type of wallet that stores the user’s private keys in a secure hardware device — keeping your private key information off your computer and on the external device.
Best Hardware Wallet: Ledger
Ledger is the most recognized and most credited hardware wallet currently available. The device is primarily an offline hardware wallet. Ledger also connects to Bluetooth and USB depending on if you want to use your computer or mobile phone. Ledger also has an app to make it much easier to secure, store and manage your assets.
Best Software Wallet: Metamask
Metamask is the largest decentralized software wallet currently available. Metamask offers a desktop application as well as a very nice mobile app for traders. It also has built-in integration with hardware wallets like Ledger or Trezor, which ensures a maximal level of security for investors.
Pay close attention to the roll out of the features Saitama is claiming to launch as real utility will provide value to the project.
Current Crypto Prices
The cryptocurrency markets have been generally bearish in 2022, but many long-term investors are still bullish on the market as a whole. However, the market has been in a downtrend since Q4 2021, so there still be more downside before we see new all-time highs. Unlike the stock market, cryptocurrencies trade 24 hours a day, 7 days a week. For the most up-to-date cryptocurrency prices, check out this table below.
So, Is Saitama a Good Investment?
If you are looking to take a risk and diversify your portfolio into speculative altcoin projects, then Saitama may be a good investment for you. If you are looking to invest in revolutionary projects that will shape the future of decentralized finance (DeFi), then Saitama may not be a great investment for you. Make sure to never invest more than you can afford to lose, as altcoins are extremely volatile assets.
Frequently Asked Questions
How many Saitama Inu holders are there?
Theres around 325,000 holders of Saitama Inu.
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