As we slowly move out of the crypto winter, people have started to pay attention to memecoins. And as memecoins have begun to once again generate interest, with Dogecoin’s trading volume up to 35%, lesser-known doge-themed tokens are also pumping.
But are they worthy investments? In this article, we explore what ShibaNova is and why it is pumping. And based on some facts that are available about this token, we make potential ShibaNova price predictions.
What is ShibaNova?
ShibaNova is a decentralized exchange – DEX and an AMM automated marketplace maker built on top of the Binance Smart Chain. The project aims to solve one of the biggest issues with Decentralized Finance, pumping the tokens’ value for a finite time to decrement it later until the price hits zero.
To resolve that issue, ShibaNova aims to turn the token holders into investors. That is, whoever holds the token is eligible to get up to 75% of the transaction fees. The holders also contribute to the liquidity ShibaNova’s liquidity pool and earn passive income. These features combine to make, as ShibaNova puts it, DeFi 2.0. Underpinning these features is NOVA, the native crypto of this platform.
ShibaNova claims to use this “revolutionary” idea to make the crypto worthy of both the whales and the small investors.
In addition to the NOVA token, the ShibaNova farm also distributes staked NOVA or sNOVA among those holders who provide liquidity. Holding an sNOVA means that the holder also owns the liquidity shares.
To become an investor in the ShibaNova project, one doesn’t need to stake their tokens but only needs to hold sNOVA in their crypto wallets. In return, the protocol offers 75% of the swap fees paid in BNB or BUSD.
Needless to say, the project has some very big ideas that are sure to attract the crypto crowd that is only going by the token’s current value on CoinMarketCap.
At the time of writing, ShibaNova is up by 57.89% and is trading at $0.012. For many, it is a sign of hope that this token is doing good. However, since this token is one of the lesser-known cryptos in the market, it is wise to look a bit deeper before considering it a wise investment.
Why is ShibaNova pumping?
One thing that becomes outright apparent is the lack of a clear website for this crypto. We were only able to find the website once we got to ShibaNova crypto Twitter channel and even that wasn’t easy to find. It is concerning because the token has been making a lot of waves since August 5th, 2022.
After experiencing relatively, no price action from July 2022, NOVA started to make repeated bullish patterns in the price chart. Then, on August 16th, 2022, to August 19th, 2022, the NOVA price graph formed a straight line before pumping again.
From the graph below, you can argue that it is not forming a standard pattern. There have been many spikes which makes it difficult to make any discernible ShibaNova price prediction.
However, one bullish development might be the only redeeming factor about this token – the P2E game. NOVADEX, the official name of ShibaNova’s decentralized exchange, speaks of the Legend of Novaria. It is an MMO space shooter that users can play by swapping BNB for NOVA.
So far, the official video of the game has gained more than 21k views since January. The game hasn’t launched yet, but if it does, we can see an uptrend forming. But the last comment on this video was six months ago – which can be seen as a red flag for many.
That said, there are some issues with this crypto that you might want to look into before investing.
Difficult to find Website
The website is not readily searchable. There is a ShibaNova.io, but it has just been recently parked.
The Marketing is Low
Even though there are over 15k followers on Twitter, ShibaNova hasn’t gotten much engagement right now. Also, there is no Reddit, no GitHub profile, and no traceable features about the trade on trading view.
There is Hardly Any Talk about The Token’s Play2Earn Ecosystem
We already mentioned the last comment on the Legends of Novaria official video was six months ago. And the dev team behind this token has not provided further updates about the play2earn game – which is weird because the game looks good from what we have seen until this point.
With these factors in mind, we consider that ShibaNova might have potential. But the background info about this crypto is very little so we can’t recommend this cryptocurrency to most just yet – perhaps if there is more information about this crypto on mainstream news outlets may give us some confidence. But that day isn’t today.
What we can recommend instead is one of the best cryptocurrencies out there, with a far better use case and amazing doge aesthetics. It is one of the best memecoins to launch this year, and you can find all info about this crypto on the official website. This crypto is Tamadoge.
Tamadoge: A Trustworthy Memecoin
Memecoins often come off as a joke – because they are. But due to that, even the most avid crypto watchers recommend against it. However, Tamadoge is of a different breed. Hidden under the guise of memecoin is utility crypto powering a great P2E ecosystem with many rewards and utilities.
Below are why we think Tamadoge is a safer and better alternative to ShibaNova.
Well Defined Roadmap
Tamadoge has a well-defined roadmap. The devs are planning to create a Tamaverse in which 3D versions of Tamadoge Pets – the NFTs of the Tamadoge ecosystem – can live.
Better Play-to-earn Mechanics
ShibaNova’s play-to-earn mechanics aren’t clear and cut. In Tamadoge’s case, however, the rules are simple. You buy the Tamadoge Pets as puppies, feed them, breed them and raise them. And once they grow, you can put them to battle in a PvE ecosystem and earn Dogepoints based on skills. Players with the most Dogepoints by the month’s end will earn TAMA tokens as rewards.
Transparent Developers
We weren’t able to find anything about the developers behind ShibaNova. Tamadoge, on the other hand, is transparent about most developers that are important to the ecosystem.
Tamadoge is based on the Ethereum Blockchain
Tamadoge is based on the Ethereum blockchain, a tried and trusted chain to build play2earn applications. Binance Smart Chain, although not far behind, still has much to prove to the people.
CEX launch is coming soon
At the speed at which TAMA’s presale is going, we believe it will meet its presale target before the end of this year. And when it comes, LBank will become the first CEX to list it.
Great Marketing
One of the biggest reasons we prefer Tamadoge to ShibaNova is that the crypto crowd is watching Tamadoge. Major publications, like us and others, have covered Tamadoge. Also, the Twitter following of Tamadoge is much bigger and more organic. A genuine crowd of crypto lovers is backing this token and talking about it.
Tamadoge is the Best Memecoin to Invest in Right Now
Memecoins have gotten a bad rep because of a lack of utilities, and Tamadoge is here to change that. While ShibaNova has been trying to do the same thing – its progress is slow – and we don’t know when major players will talk about it. That is why Tamadoge is the best coin to invest in right now. The sixth phase of the TAMA presale is live. Better get your hands on it before the TAMA price increases, again.
Read More
Tamadoge – Play to Earn Meme Coin
- Earn TAMA in Battles With Doge Pets
- Capped Supply of 2 Bn, Token Burn
- NFT-Based Metaverse Game
- Presale Live Now – tamadoge.io
Source: https://insidebitcoins.com/news/what-is-shibanova-and-why-is-it-pumping-shibanova-price-prediction