Will Saitama Inu Reach 1 Cent

Saitama Inu
Source: Laptopmag

Meme coins are increasingly becoming famous, especially in the year 2021. Coins like Shiba Inu, which started a year ago, have surged over one million percent, making many investors reach.

Now, many investors are busy looking for a coin with potential profitability regardless of its utility. Saitama happens to be one of these coins, and investors are eyeing it covetously. Is Saitama a good investment, and can it continue the uptrend and beat the odds to reach $0.01? we will be discussing this in this article

What Is Saitama Inu?

Saitama Inu is a token that uses the Ethereum blockchain and smart contracts. Just like others before, it also gets the name ERC-20 Token. Many meme coins use the ERC-20 standard because it is easy to use, and developers can create as many new coins as possible.

Saitama stores value using a specific burning system to retain this value, taking them completely out of circulation. 2% is burned, and 4% is distributed to its holders. Developers are also hoping to add several DeFi functions that will support the token’s value to follow an uptrend, including the SaitaMask wallet. According to them, this will be a safe way to store Saitama Inu and ease acquiring and selling the token.

Currently, Saitama Inu sits on a Market Cap of over $4 billion with a revolving supply of 44,611,512,201, 223,700 tokens. At writing, SAITAMA is trading at $0.000000061363 with a 638% increase in the past month. The big question still lies. Will the token be able to reach $0.01?

Can the Token Still Hit $0.01?

The token holders are still hoping for the price to make a surge soon, one of the targets being $0.01. However, this is far from reach in the short term because if the price were to reach $0.01, it would mean that the market cap has to surge 170 times the size of the entire crypto market. This will likely crash the market, causing a lot of damage.

Even though 2% of the transaction is burned, it is an extremely high target to reach in a short-term period. The 2% represents about $1 million tokens burn per day. This will help increase the value but not enough to make it reach $0.01.

How Can You Buy Saitama?

Saitama Inu is a relatively new project on DEXs. Therefore to access it, you have to visit exchanges like Uniswap. To acquire it, you have to follow the following procedures or steps.

  1. Open an account on the broker platform. You will only require an email and a password and verification of personal information. Some brokers include eToro, Coinbase, and Gemini.
  2. Move to Ethereum, buy your desired amount, and send it to your wallet linked to Unsiwap exchange.
  3. Navigate to ETH/SAITAMA pair and trade. SAITAMA will then be stored in your wallet. A fee of between 10-15% will apply during the transaction.

You should, as a routine, do your own research before making the decision to invest your money in this coin.