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Rich Quack (QUACK) is up 11% in the last 24 hours, beating the market as a whole, which is down 1.5% today. At $0.000000001695, it’s also up 90% in a week, 100% in a month, and just over 1,900% in a year.
This makes QUACK one of the best performing coins in the top 300 (by market cap), with the deflationary meme token seeing a particularly significant rally since Saturday. Investors are also apparently attracted to the staking and incubation platform, which allows holders to invest in early blockchain projects.
However, despite the performance of recent days, QUACK is still 89% lower than its all-time high of $0.000000015463 last November. As such, it may not be as good an investment as it may appear at first glance, with other newer tokens arguably offering better opportunities for better returns.
This new meme token is up 11% while everything else is selling
Early Friday morning, QUACK was at $0.000000000926775, but it rose to a seven-day high of $0.000000001722 early this morning. This represents a gain of 85%, which is pretty much where the altcoin’s impressive statistics over various time units are in the short to medium term.
It is worth pointing out that QUACK is one of the best performing tokens in the top 300 on the market, but the volume remains very small. For example, when it reached its highest level in seven days early this morning, it rose to 24-hour trading volume of just $7.7 million compared to $24 billion for Bitcoin.
Still, QUACK is one of the trending coins today and it seems that at least some investors have been attracted to the coin’s deflationary tokenomics.
Based on the BNB Chain, QUACK has a maximum total storage of 100 quadrillion. 50% of this was seeded as liquidity, while the remaining 50% will be burned over time.
Rich Quack not only provides a deflationary coin but also acts as a staking and incubation platform. On the one hand, users who implement QUACK receive rewards (from transaction fees) while also being able to invest their QUACK tokens in early blockchain projects.
This combination of deflation, strike and venture capital seems to be gradually attracting investors. That said, it’s worth keeping in mind that QUACK is still down 89% from its November ATH, meaning it’s still working to regain its previous level of interest.
Another new deflationary coin hits the market
However, QUACK is not the only new deflationary token with interesting fundamentals. Another to add to this list is Tamadoge, an Ethereum-based play-for-earn gaming metaverse that recently saw its own TAMA token listed on OKX, as well as the OKX DEX (which is open to traders worldwide) .
TAMA rose just over 1,800% from its initial pre-sale price in the days following this listing, and other exchanges added it soon after. It continues to rise from the listing price, although it has been overtaken by underlying negative market sentiment.
Investors have switched to TAMA since its launch for various reasons. Most importantly, it has compelling fundamentals, with the meme token operating in a gaming metaverse where players can raise, battle and trade NFT-based Tamadoges digital pets.
The core game will be launched in the last quarter of this year, followed by a series of arcade games. In the short term, the company has rolled out its NFT-based Tamadoges digital pets, with an initial collection of 100 ultra-rare Tamadoges up for auction on OpenSea on October 6.
Like QUACK, TAMA is a sign of deflation, with a total supply of 2 billion. It also has a built-in burn feature where the protocol destroys 5% of the revenue from Tamadoge shop transactions, which include in-game items such as food and accessories for Tamadoges.
Together with its interesting platform, such tokenomics undoubtedly make TAMA one of the most promising new altcoins in 2022. It has already built a significant community, with its Twitter account alone reaching more than 77,000 since opening in July of this year. has followers.
Time will tell how successful it and Rich Quack can be. But for investors disillusioned with the broader cryptocurrency market, the early momentum of both altcoins at least suggests a few alternatives to gradually falling prices.
Anyone interested in hearing more about TAMA’s OKX listing can attend the scheduled OKX AMA with Carl Dawkins (Head of Growth for Tamadoge) on October 14 at 8:00 UTC.
Buy Tamadoge at OKX
Buy Tamadoge at OKX DEX