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One month ago, analysts seemed certain that by now Bitcoin wouldn't have any problems maintaining the $20,000 target.
However, as the first week of September comes to an end, it's evident that bears are still in control as Bitcoin drops down to $19,748 once again.
The exact catalysts still remain a mystery, while some investors speculate that the Ethereum Merge is to blame.
Other crypto assets have also been underperforming in the last 24 hours, with some meme coins like Tamadoge being an exception.
In fact, Tamadoge is one of the rare currencies at the moment that experts believe could bring huge profits towards the end of 2022.
Crypto whales (large volume investors) seem to be unaffected by the latest updates and continue investing their money into to the largest crypto in terms of market cap.
According to several sources, there are currently 92 wallet addresses that hold between 10,000 and 100,000 BTC. For comparison, there were 79 addresses at the beginning of March 2022.
As long as whales keep supporting the asset, there is a good chance that a turnaround will come in the upcoming weeks.
From what we've seen so far in the crypto market, a rise in demand is typically followed by a bullish trend.
What's more, the MVRV (Market Value Realized Value) suggests that Bitcoin is already back in the 'buy zone', which indicates that the current price is significantly undervalued.
Whales might push for even lower BTC prices and will then go for the ultimate swing that will not only surpass the $20,000 mark, but start a strong bullish trend.
Considering this information, it's very possible for Bitcoin to recover, but it's essential for it to first maintain the $19,600 mark.
In case the demand suddenly plummets, investors have to be ready for another bearish run that could lead to a price below $19,000.
Interestingly, some analysts have pointed out that we're seeing the so-called "September" phenomenon once again.
Over the past few years, we've always seen Bitcoin's value slightly decline at the beginning of September, and it seems that this year is no different.
We already mentioned that the upcoming Ethereum Merge could be one of the catalysts, but there are a few other possibilities that should be explored.
For starters, the energy crisis is rapidly unfolding all over Europe as the war in Ukraine continues with no foreseeable end.
Additionally, the euro just recorded a new twenty-year low in comparison to the United States dollar and the stock market is still facing a strong greenback.
All of these factors combined could be responsible for Bitcoin's slow September start.
While Bitcoin is still struggling to regain its form, certain meme coins have been taking over the crypto market – and Tamadoge is leading the pack.
This project successfully closed out its beta sale a few weeks ago, while the presale ended on September 1st with an astonishing $11 million raised in funding.
One of the main reasons why Tamadoge is so attractive to investors is that it offers something that not even Dogecoin and Shiba Inu can compete with – cutting-edge tokenomics and real-world utility.
Unlike other meme coins that have nothing to offer aside from a cute dog picture, Tamadoge incorporates a variety of elements that make it a profit time bomb.
Tamadoge is essentially a crypto meme coin that utilizes NFT, Metaverse, and P2E elements. Its native token is TAMA, which is also used for all platform activities like transactions and staking.
Notably, there are no tax fees imposed on TAMA fees, which is a huge plus for traders looking to capitalize on the token.
This cryptocurrency was inspired by Tamagochi, the pet game that was immensely popular in the 90s and revolved around preparing pets for battle.
The gameplay in Tamadoge is fairly similar. Players acquire Tama pets (in form of NFTs) and take care of them as they grow up. Once they mature, they use them in battles for a chance to win exclusive rewards from the Dogepool.
Even though the presale ended a few days ago, it's still not too late to capture the low price of TAMA and count profits in the next few months.
Crypto analysts are calling Tamadoge the next "100x return" token and the possibility of it eventually dethroning DOGE and SHIBA is looking more realistic by the day.
Lastly, investors should know that there's no "rug pull" danger with Tamadoge – the project was KYC'd by CoinSniper and smart contract audited by SolidProof.
Here is the exact guide you can follow for your first TAMA token purchase.
STEP 1
To begin, make sure you have a MetaMask wallet installed on your browser, or use one of the wallets supported by Wallet Connect (we recommend Trust Wallet).
Purchasing on a desktop browser will give you a smoother purchasing experience. For this we recommend MetaMask.
If you are purchasing on mobile, we recommend using Trust Wallet and connecting through the in-built browser (just copy https://buy.tamadoge.io into the Trust Wallet Browser).
STEP 2
Once you have your preferred wallet provider ready, click "Connect Wallet" and select the appropriate option. For mobile wallet apps you will need to select "Wallet Connect".
You will then have three options: Buy ETH With Card. This option will allow you to purchase ETH that will be sent to your wallet by our partner, Transak.
You will then be able to use this ETH to purchase TAMA. Click "Buy Eth With Card" to begin and follow the on screen steps. We recommend purchasing a minimum of $15 worth of ETH to cover the minimum TAMA purchase. Buy TAMA With ETH.
Once you have sufficient ETH in your wallet (if you do not have ETH or USDT, please select option 1 to purchase ETH first), you can now swap your ETH for TAMA. Type in the amount of TAMA you wish to purchase (1,000 minimum) and then click "Convert 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 ensure you have at least $15 of USDT in your wallet before commencing the transaction.
Type in the amount of TAMA you wish to purchase (1,000 minimum). Click "Convert USDT". You will then be asked to approve the purchase TWICE. The first approval is for the USDT contract and the second is for the transaction amount. Please ensure you go through both approval steps in order to complete the transaction.
STEP 3
Once the presale has concluded, you will be able to claim your TAMA tokens. We will release details closer to the time, however you will need to visit the main site https://tamadoge.io and click on the gold "Claim" button.
Use the contract information below to add the TAMA token to your wallet.
Address: 0x12b6893cE26Ea6341919FE289212ef77e51688c8
Decimals: 18
Token symbol: TAMA
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
