The cryptocurrency market has so far failed to extend its profits in August after a rise in July.
Indicators of an economic slowdown and an increase in geopolitical tensions between the US and China have also affected the market.
All top crypto tokens were trading down a few days ago.
Despite this, the decentralised finance (DeFi) token Saudi Shiba Inu (SAUDISHIB), which is available on the Binance Smart Chain (BSC), rose by more than 450 per cent and captured the attention of the crypto community.
But this had left everyone wondering if Saudi Shiba Inu was a wise investment and if the upward trend would continue.
Many different meme coins are available, each claiming to offer something unique, but far too often, the uniqueness is limited to the name and little else. There is little to no information about the Saudi Shiba Inu project.
Saudi Shiba Inu has promised NFT collecting and decentralised exchange for listing meme cash.
Additionally, it has no utility and charges transaction fees, both immediate caution signs. Saudi Shiba Inu is, thus, merely another vaporware meme money, according to analysts.
So, it's better to look into other meme coins, such as Tamadoge, instead of putting your hard-earned money into an unproven meme coin that delivers no utility or rewards.
What is Tamadoge?
It's an intriguing new meme coin available and has utility. Tamadoge, the native governance token for the in-game Metaverse 'Tamaverse', is a deflationary meme cryptocurrency.
The name cleverly combines doge fever and Tamagotchi, a well-known computer game from the 1990s. You can raise your own NFT Tamadoge Pet through the play-to-earn system known as Tamadoge.
If you choose, you can keep many Tamadoge pets, give them any food you want, and watch as they get more powerful over time.
Users receive rewards for spending time with and taking care of their pets from birth to age. Adult animals can compete to be crowned the leader on the leaderboard.
To engage with the realms of the metaverse project, they will also have a unique 3D avatar.
Additionally, an app with an augmented reality viewer is built in, so you can always be just a swipe away from your pet.
This play-to-earn game promises fun and requires fighting skills, unlike other play-to-earn games, which may be tedious affairs centred on repeated duties with little talent.
Different from Saudi Shiba Inu
Tamadoge appears to be a metaverse setting that could be addictive. There is no tax on transactions using the TAMA coin with Tamadoge, unlike Saudi Shiba Inu.
Instead, revenue is produced through fees on purchases made in the Tamadoge shop, where players can buy and sell in-game goods.
Tamadoge is your chance if you're looking for a meme currency with a traditional business plan that emphasises gaining more users to increase revenue rather than playing purely to earn money.
In total, 2 billion Tamadoge tokens have been created, which is the token supply.
This is the ideal opportunity to invest in the project early and start counting your income once Tamadoge is live because it is predicted to take off as soon as it is released.
(Disclaimer: "the above content is non-editorial, and NDTV hereby disclaims any and all warranties, expressed or implied, relating to it, and does not guarantee, vouch for or necessarily endorse any of the content. Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Readers to exercise caution/due diligence and comply with all applicable laws, including but not limited to taxation laws. The above content does not constitute investment advice nor promotes, suggests or presents Crypto products/NFTs to solve financial difficulties/achieve financial security/act as an alternative to employment/income opportunity.”)