The Saitama Inu crypto logo is attached to a rising arrow on a green background.
Is Saitama Inu a MemeCoin
YES. Saitama Inu (SAITAMA) is yet another memecoin that operates on Ethereum’s blockchain. While it offers big promises, its price appreciation is due to the social media hype around meme coins. It’s been around for some time but is only recently gaining traction with traders.
Saitama Inu started to pick up momentum in October. As a result, the coin reached an all-time high in November. Since then, the crypto has cooled off and is still only trading for fractions of a penny. As a result, price predictions point out that it may be before major growth comes to the digital asset.
Saitama Market Position
At writing, the current market cap of Saitama is about $3 billion, with a price of $0.000000047 per token. Saitama is a community-driven ERC-20 token built on the Ethereum network.
Saitama’s goal is to educate the next generation of investors on simpler and safer crypto investments, thus opening opportunities for wealth creation. To do this, Saitama plans to develop its ecosystem. This plan will include a marketplace, a software wallet and a non-fungible token (NFT).
The token’s utility remains low because most of these features are not released. Saitama has a protocol to burn 2% of an investor’s tokens with every transaction. This protocol is an attempt to increase the value of the Saitama Inu token. It also claims to have an “anti-whale” mechanism. This systemic procedure will prevent large investors from affecting token prices. This feature is not yet functional and is speculation.
The current value of the entire crypto market is roughly $2.6 trillion. Market sentiment stays bullish as Bitcoin begins its rally and Ether breaks all-time highs. Short-term market sentiment will depend on what Bitcoin decides to do next.
Where To Buy Saitama Inu
There are many different options when it comes to purchasing altcoins like Saitama. You can buy 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 and Coinbase Global Inc. (NASDAQ: COIN).
Conclusion
In November 2021, Saitama has no current use cases, and the project is speculative at this point. As a result, Saitama may be a good investment for you if you are looking to take a risk and diversify your portfolio into speculative altcoin projects.
Saitama may not be a great investment for you if you are looking to invest in projects that will shape the future of decentralized finance (DeFi). Make sure never to invest more than you can afford to lose because altcoins are volatile assets. This investment strategy is a golden rule in cryptocurrency.