Jacob Bury
DeFiChain crypto has surged in price over the last two weeks resulting in an increase of price by over 89%. At the time of writing this article it seems DeFiChain is now harshly correcting following its parabolic move.
Coinmarketcap claims that DeFiChain crypto has a market capital of $591 million and is ranked #214 amongst other cryptocurrencies.
What could the rest of 2022 entail for DeFiChain and are there rival cryptos that could offer more potential?
DeFiChain Crypto Price Prediction 2022
Over the last 24-hours the price of DeFiChain has rocketed from $1.16 to $1.45. Unfortunately the thrill and euphoria is already wearing off as the price of DeFiChain (DFI) is retracing below a critical support level of $1.21 and currently trades at $1.13.
This could just be a transient pull back followed by sideways consolidation and another move to the upside over the next few days, though I would remain risk averse following so many green candles.
On the 21st of August 2022 DeFiChain crypto traded at a modest $0.77, the move up to the recent $1.45 high offered potential returns of up to 89% for investors who scooped up the bottom.
An impulse wave of this magnitude is likely to be followed by a short-term correction before seeing more continuation to the upside.
Dfi/Usdt – Daily Time Frame.
We can also see the yellow resistance trendline has been an area where we have seen multiple rejections for the price of DeFiChain crypto. This is unfortunately exactly where we have been rejected again.
The Fibonacci retracement tool suggests that we have corrected to the 0.5 level now, which could mean that the retracement is almost over, the relative strength index climbed up to 78 which is typically overbought and we are quite over extended on the 20-day moving average.
If DeFiChain crypto can close the current daily candle at around the $1.13 price level, there might be a chance that we see a bullish reversal and retest the resistance level of $1.21. If we break through this resistance and past $1.50 there is a good chance we might be able to see a $1.78 DeFiChain in 2022.
Of course this would depend on the sentiment of the entire cryptocurrency market and the current trend that Bitcoin is following.
The issue with failed masternodes seems to been resolved and infrastructure is stable.
The negative interest rate for $DUSD loans and revised DEX stabilization fees are in effect as of block 2212150
https://t.co/ndAO9Icsxl— DeFiChain (@defichain) September 6, 2022
It seems that the recent price pump for DeFiChain was due to the recent news around the failed masternodes that have now been fixed. There are also many large investors in the industry who are currently extremely bullish on the price action of DeFiChain right now, such as the ceo of CakeDeFi @Dr. Julian Hosp.
DeFiChain Crypto Video Analysis
It is difficult to say exactly what is going to happen with DeFiChain crypto over the next few months, we have seen a lot of volatility in the market and many black swan events such as the Terra Luna crypto crash which caused unexpected upheaval in the crypto market.
September is a notoriously bad month for all crypto assets in terms of overall returns for the month, but historically September has proved to be a good month for accumulation if holding through to the end of Q4 of any given year.
Tamadoge Alternative to DeFiChain Crypto?
Upon navigating the crypto bear market I’ve discovered a new high-growth potential play-to-earn meme coin known as Tamadoge which oozes with excitement and utility. Why am I bullish on Tamadoge?
Firstly, Tamadoge has been in a presale now for just over 5 weeks and they’ve already raised an incredible $11,985,857, this reflects huge interest in the ICO – especially in a bear market.
Secondly, Tamadoge is a crazy unique deflationary meme coin which has a small maximum supply of 2 billion coins. In addition to this, Tamadoge is completely tax free and every transaction is 0%.
Tamadoge also explores the metaverse and it will implement augmented reality where you will be able to play and interact with the Doge NFTs that you mint. These cute little Doge NFTs can also be nurtured and looked after which will help you climb the Tamadoge leaderboards.
Looking into the future, Tamadoge has a bullish long-term roadmap. For example Q3 2022 will entail play-to-earn arcade games where players can enjoy play-to-earn activities and capitalize more of the native token TAMA.
Security is important for any blockchain entity. This is why Tamadoge is also verified by Coinsniper ensuring no rug pull can take place and is audited by Solid Proof which shows that they are 100% secure.
Meme coins have been trending over the last few weeks and we have seen many popular meme coins such as Catecoin, Shiba Predator, Vita Inu, Shiba Inu and more perform very well through the bear market.
Tamadoge has not yet had its chance to hit the crypto markets and the presale is also showing signs of great performance. Once Tamadoge goes public it will be deployed on Uniswap and then listed on the Lbank exchange where holders anticipate a pump is likely to happen.
Investors who wish to participate in the Tamadoge presale can head over to buy.tamadoge.io and purchase TAMA using Ethereum or USDT by connecting their MetaMask or TrustWallets to the official site.
Should you wish to learn more about the Tamadoge white paper and road map, please click here.
Related
- How to Buy Tamadoge – Beginner’s Guide
- Best Meme Coins to Buy Right Now
- 12 Best Cryptocurrency to Invest in 2022
Tamadoge - The Play to Earn Dogecoin
- '10x - 50x Potential' - CNBC Report
- Deflationary, Low Supply - 2 Billion
- Listed on OKX, Bitmart, LBank, MEXC, Uniswap
- Move to Earn, Metaverse Integration on Roadmap
- NFT Doge Pets - Potential for Mass Adoption
This article was written for Business 2 Community by Jacob Bury.
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