TL;DR Breakdown
• The Saitama Inu token among current favorite cryptos on CoinMarketCap.
• The crypto price has risen by over 70 percent in just 24 hours.
The new crypto Saitama Inu, launched at the beginning of June, gives a lot of room for discussion due to its rise in price. In less than 24 hours, the cryptocurrency rose by over 76 percent of its value, leaving Dogecoin investors worried.
Like most tokens, Saitama Inu is a decentralized currency and optimized payment system. The token was built with Ethereum technology making it excellent for investments and financial systems.
Will Saitama Inu be the new crypto to cause a boom in the market?
Saitama Inu was created on ERC-20 and is available to crypto companies. Even the website intuits that SAITAMA can be used for online payments and as an investment source.
Although Saitama Inu is trending due to its rise in the last 24 hours, it has gained participation since the recent weeks. For now, the token price has risen by one thousand percent since inception.
The crypto is capitalized at the moment at $0.00000003521, according to CoinMarketCap. With that rise in its price, the cryptocurrency ranks at #2591 among the most popular tokens.
As the crypto is only within one month of launch, large exchange platforms such as Robinhood or Coinbase do not have it in their crypto list. However, people can buy it on Uniswap and Metamask by exchanging them with other higher value tokens.
Will the new token be able to outperform Dogecoin?
Undoubtedly, Saitama Inu is a cryptocurrency with a beneficial upward trend, and several investors agree. However, the token is a long way from surpassing Dogecoin for its price and ranking in popularity. Similarly, the ETH-based cryptocurrency appears to be a very lucrative source of short-term investment.
DOGE, the meme cryptocurrency, remains at No. 8 with a price of $0.2037. For now, the crypto is in a downtrend, losing 0.11 percent in the last 24 hours. However, the DOGE price has been very stable for over a week.
If you compare Saitama Inu with Dogecoin, you can see divergences in its price. Although both currencies are volatile, Doge has a greater chance of profit when pitted against the Saitama Inu. Perhaps Saitama can outperform Dogecoin, but this would be short unless the meme token magically loses its value.
The Saitama Inu website also motivates people who buy it, hoping they will earn easy money. Similarly, Saitama also works for simple transactions where investors do not want to pay high interest rates. This cryptocurrency may increase its value; we will only have to wait to see its results in the market.
