top altcoins are rising today

Investors appear to be embracing risk again in the past few weeks as indicated by the performance of several altcoins and following what could be an early sign that inflation has peaked in the United States.

This morning, the most prominent altcoins in the space such as Ethereum (ETH) and Polygon (MATIC) are ripping while certain promising under-the-radar projects like Tamadoge (TAMA) are experiencing high demand on their pre-sale.

The native token of the smarts contracts invented by Vitalik Buterin is leading the pack today with gains of almost 12% in the past 24 hours at $1,911 per coin after the Ethereum Foundation ran one of the final tests before going live with the so-called Merge – the widely-expected pivot of the network to a proof-of-stake (PoS) mechanism.

In a tweet published last night, Ansgar Dietrichs, a researcher of the Foundation, mentioned that despite a few “hiccups”, the test could be considered a successful one.

Ethereum’s top developers are scheduled to convene next Thursday to set a date for the launch of the 2.0 mainnet. The consensus is that the merge of the Beacon chain should occur somewhere in September after the team has performed all the appropriate tests.

Other Altcoins Surge After the US’s Latest Inflation Report Excites Investors

Most assets in the crypto space are surging this morning including top altcoins such as Solana (SOL), Avalanche (AVAX), and Polygon (MATIC) after last month’s inflation reading in the United States came out below the market’s expectation.

In July, the country’s consumer price index (CPI) rose 8.5% compared to the same period a year ago. The figure was slightly lower than the consensus estimate of 8.7% from economists. However, the most relevant aspect of the report was that, on a month-to-month basis, inflation went flat as the index was unchanged compared to June.

A drop in gasoline prices contributed to this downtick in the CPI and investors greeted the news by rushing to buy risky assets such as equities and cryptocurrencies with the expectation that the Federal Reserve may adopt a more dovish stand if prices stop climbing.

Higher liquidity toward risky assets is good news for altcoins. Even though it is too early to tell if inflation does have peaked in the US, market participants appear to be optimistic about this and that could lead to a short-term rally in this segment of the crypto market.

Early-stage Crypto Projects Stand to Gain During Alt Season as Well

Projects in the crypto space that are currently in the earliest stages of their development can benefit if altcoins enter a full-blown bullish cycle in the near term.

One project in particular appears to be attracting investors’ interest and that is the case of Tamadoge (TAMA). This meme coin is the native token of an interactive game that consists of raising virtual pets.

Virtual pets were a thing in the 90s and the developing team of Tamadoge is using blockchain technology, non-fungible tokens (NFTs), and a virtual community to bring back that fun to the virtual world.

The project just raised $2 million during its first pre-sale after selling as much as 200 million TAMA tokens. The team plans to sell a total of 1 billion TAMA to raise funding to move forward with the project’s roadmap.

Every 100 million tranche of TAMA tokens will be sold with a corresponding 0.0025 USDT price increase. Right now, the pre-sale price stands at 0.0125 USDT and 67.85 million tokens have to be sold for this tranche to be fully allocated. Once that happens, the price will rise to 0.0150 per coin.

Interest in the project has been growing rapidly as indicated by how fast the first tranche was sold. In addition, Tamadoge’s social media has been attracting a significant following as well with the project’s Twitter account currently racking 38,000 followers while 20,000 people have joined Tamadoge’s official Telegram group.

Other Related Articles:

Tamadoge - The Play to Earn Dogecoin

Our Rating

  • '10x - 50x Potential' - CNBC Report
  • Deflationary, Low Supply - 2 Billion
  • Listed on Bybit, OKX, Bitmart, LBank, MEXC, Uniswap
  • Move to Earn, Metaverse Integration on Roadmap
  • NFT Doge Pets - Potential for Mass Adoption