Following a solid increase in July, the cryptocurrency market has failed to extend profits this month.
The market has been also hurt by signs of an economic slowdown and a rise in geopolitical tensions between the United States and China. As a result, trade volumes were lower than in the previous month.
On Tuesday, all the leading crypto tokens were trading downward. The worldwide cryptocurrency market cap was trading lower at $1.05 trillion, down more than 3% in the last 24 hours. However, total trade volume increased by nearly 8% to close at $76.49 billion.
Despite this, the Saudi Shiba Inu increased by more than 450%. However, the current state of the cryptocurrency market tells a different narrative to potential investors.
Your capital is at risk.
What is Saudi Shiba Inu?
Saudi Shiba Inu (SAUDISHIB) is a Decentralized Finance (DeFi) token available on the Binance Smart Chain (BSC). This decentralized Meme Token has its own NFT Platform and NFT Collections.
Since this is an automatic staking option, the Saudi Shiba Inu holders profit from the reflections on each transaction.
As part of Automatic Staking, SAUDISHIB distributes 2% to all holders. The most apparent advantage of Auto staking is that it has the shortest technical learning curve and the least bothering of any staking approach.
Unlike initiatives that are primarily focused on farming Liquidity Pool, this meme cryptocurrency strives to prevent price swings as much as possible. According to the developers, “The Saudis will buy a lot of Shiba Inu and Bitcoins, and hence we decided to make the official Saudi version of Shiba Inu hence the name Saudi Shiba Inu.”
CoinMarketCap Rating: #2801
Official Website: https://saudishibatoken.com
Is Saudi Shiba a Good Investment?
Saudi Shiba Inu promises to establish NFT collections as well as a decentralized exchange for listing meme currency.
It levies taxes on purchases and sales to cover auto-reflections and support the liquidity pool.
There are hundreds of meme coins available, each attempting to provide something unique – but all too often, that uniqueness is limited to the name and little else. Saudi Shiba Inu seems to be one of them.
According to experts, SAUDISHIB is simply another vaporware meme currency.
Better Alternatives – Tamadoge
To put it bluntly, one has no use of Saudi Shiba Inu, but with Tamadoge, it’s different.
The name is a clever mix of Tamagotchi (a famous video game from the 1990s) and doge fever, but it is much more. Tamadoge is a play-to-earn mechanism in which you raise your very own NFT Tamadoge Pet.
You can have quite a few Tamadoge pets if you like, dress them up as you want, feed them anything you want, and watch them get more robust and more potent over time.
Users are rewarded for spending time with and caring for their pets from infancy through adulthood. Adult pets will be able to fight for the title of the top dog on the leaderboard. They will also have their own 3D avatar for interacting with metaverse project realms. And an app that includes an augmented reality viewer, so you are never more than a swipe away from your pet.
Unlike other play-to-earn games, which may be dull affairs based on repetitive chores with minimal skill, this one promises fun and need battling abilities.
Overall, Tamadoge looks to be a possibly addictive metaverse setting in a positive sense. It should be noted that, unlike Saudi Shiba Inu, there is no tax on transactions utilizing the TAMA coin with Tamadoge. Instead, fees on purchases in the Tamadoge shop, where in-game goods may be purchased and sold, generate money.
Tokenomics are deflationary by design, which supports the token price. The Tamadoge beta sale only began this week but has already raised more than 109,000 USD. TSmart investors are rushing to get in on the beta sale before the price rises.
If you want a meme currency with a good old-fashioned business model that centers around acquiring more users to raise income by emphasizing fun to develop engagement, rather than playing for the sake of earning, Tamadoge is your shot.
Tamadoge Contract
Use the contract information below to add the Tamadoge token to your wallet.
Address: 0x12b6893cE26Ea6341919FE289212ef77e51688c8
Decimals: 18
Token symbol: TAMA
Website link: https://buy.tamadoge.io
Your capital is at risk.
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Source: https://insidebitcoins.com/news/what-is-saudi-shiba-inu-and-is-it-a-good-investment