Valuations have always been a big problem in the cryptocurrency sector. Concerns over Bitcoin (BTC) trading at a premium of over $2,000 in the US on Binance rattled the markets forcing investors to look elsewhere for gems trading at discounts. DigiToads (TOADS) is one of the tokens eliciting strong interest as a highly undervalued token with tremendous potential as it seeks to eclipse Dogecoin (DOGE) and Pepe (PEPE) as the next meme king.
DigiToads Fast Rising Meme King
Recently launched DigiToads has managed to grab the attention of crypto enthusiast’s worldwide thanks to an array of unique features that affirm its real-world application. Its presale raising over $4.8 million also affirms the strong interest in the market as the revolutionary project plots to redefine the meme coin sector dominated by hype and social buzz. It is one of the best tokens to watch in 2023 thanks to a unique economic model based on the play-to-earn (P2E) mechanism, NFT staking and trading. Monthly trading competitions have also set the project apart from other meme coins offering traders an opportunity to earn in the ecosystem.
Traders with the highest monthly trading volume will walk away with platinum Toads as the reward. The token will come with exciting perks, including access to the Toads treasury and a share of profits generated in the ecosystem. DigiToads’ Decentralized Finance ambitions do not stop with trading competitions. Similarly, it has established a staking platform. The platform is to offer users in the ecosystem an opportunity to stake their non-fungible tokens (NFTs). By staking, users can earn some passive income on DigiToads, redirecting 2.5% of every Toads transaction tax into the pool.
DigiToad’s prospect as a full-blown utility meme coin goes beyond DeFi features and into the play-2-earn ecosystem. Consequently, it has established an exciting Web 3 game that continues to attract more gamers into the ecosystem. In the P2E game, gamers have to purchase and nurture DigiToads to breed, nurture and grow them to be the biggest and strongest in the ecosystem. By simply purchasing food and training equipment, gamers stand to ensure their avatars are the biggest and strongest for an opportunity to win some TOADS tokens.
TOADS token is the native deflationary token powering the DigiToads ecosystem that acts as a medium of exchange and for settling transaction fees. While its total supply is capped at 585M, each transaction using the token will trigger a token burn of 2%, designed to trim the supply even further over time. The token burning mechanism seeks to ensure TOADS supply reduces over time to fuel artificial scarcity amid high demand. The actions are expected to have a significant impact in propping up the TOADS token value.
Bitcoin Hurt by Valuation Concerns
Even As DigiToads continues to explode in presale, Bitcoin has found the going tough after struggling to power and find support above the $30,000 a coin level. The flagship cryptocurrency has been trading at a premium of up to $2,000 recently, which continues to take a toll on its sentiments in the market.
The premium valuation is one of Bitcoins’ undoing, as very few people can buy the token at the current levels. In contrast, most are switching their attention to gems like DigiToads, with tremendous room for growth while trading at highly discounted levels.
Bitcoin has been losing its allure among investors for being highly susceptible to regulatory crackdowns worldwide. The crypto has always tanked on any suggestions that regulators plot massive crackdowns on some of the biggest exchanges.
Bottom Line
DigiToads’ tremendous success in presale, with over $4.8 million generated, underscores the project acceptance in the burgeoning sector. Its innovative approach around P2E gaming, NFT staking and trading continues to strengthen its prospects against Dogecoin and Shiba Inu that purely trading on social buzz and hype. As the focus shifts towards projects with real-world applications, DigiToads stands to be one of the biggest gainers, with experts confident it could rally by more than 1000%.
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Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here.