Alt-crypto has gained people’s attention worldwide, which has spawned more cryptocurrencies in the global circuits. A very recent addition to this world is the community-driven meme coin- Saitama Inu.
Saitama Inu may have existed for only a hot minute compared to its other counterparts but has risen as one of the most secure blockchain-based ecosystems to exist.
So in today’s article, we will take a look at the young and potent Saitama Inu cryptocurrency at length.
Table of Contents
- 1 What is Saitama Inu?
- 2 Why Was Saitama Inu Created?
- 3 Who Created It?
- 4 How Does It Work?
- 5 SAITAMA’s Awareness In Public
- 6 Saitamask
- 7 Is Saitama Safe?
- 8 What’s In Store For The Future
- 9 Saitama Inu Market Analysis
- 10 Conclusion
What is Saitama Inu?
The name Saitama Inu draws inspiration from the legend of a ghost dog roaming the mountains in the Saitama region of Japan. In Japanese, Inu means ‘dog,’ which is also inspired by other meme coins like Shiba Inu.
Saitama Inu is a new crypto token built on the ERC-20 blockchain (Ethereum). Launched in June 2021, the coin has made quickfire progress that rivals that of seasoned altcoins.
Not just that, the $SAITAMA altcoin has also succeeded in creating a hospitable environment for budding investors, which aligns with their objectives.
Why Was Saitama Inu Created?
SAITAMA started as just a fight for a noble clause – the young should be able to take control of their money and achieve their dreams. This fight ultimately led to the creation of the cryptocurrency in June 2021 during the CoVID-19 global pandemic.
The team at Saitama strictly believes that everyone should have an opportunity to attain financial freedom. However, to be able to do that, the up-and-coming generation needs to learn to wade through countless technological and financial adversities.
Thus, the spectrum of SAITAMA’s services is not limited only to the crypto tokens but also includes education about the latest financial trends and the potential of earning wealth through cryptocurrency.
Education About Finance And Investment
The team behind Saitama claims that Gen Z has been given a broken world that can be saved only by taking holistic measures. Most youths do not get any formal education about finance management.
To change that, SAITAMA offers education in this field and opportunities to apply that education in a community-driven market.
SAITAMA’s mission is to encourage human connection across the world. To turn that dream into actuality, they have created various financial tools to create opportunities for people to earn and connect with each other.
These include a range of side projects and community-based forums and marketplaces, all using the $SAITAMA monetary system.
Who Created It?
Well, like many altcoins out there, the founder of Saitama Inu has chosen to remain anonymous. However, due to unforeseeable personal circumstances, the creator left the currency to a community of like-minded individuals fed up with the complexities of the crypto investment processes.
Thus their aim was to make investing easier for ordinary people and make cryptocurrency more accessible. They wanted to create a platform where people could invest a minimal amount of money and make remarkable gains with it.
Until the last week of January, the token was being developed by seven core members, including Manpreet Kohl, Max Hernandez, Russell Armand, Nam Tram, Aaron Mansur, Gabriel Klein, and Steve Rocket Crypto.
On January 25, the team announced that Steve Rocket wouldn’t work with them anymore due to personal reasons.
How Does It Work?
The steep climbs that the token has made can be attributed to its deflationary nature, burning a certain percent of tokens with every transaction made on its ecosystem.
This means its tokens reduce in number regularly. For every transaction, 2% of the total amount of transactions is burnt, and another 2% is redistributed among current token holders.
In this way, SAITAMA can create a passive income for the holders even if they are not engaging in any substantial activity with their tokens.
The price of a crypto token is dependent on the relationship between supply and demand. If the demand is more in relation to the supply, its value will also increase.
According to official data, at the time of the article’s writing (Jan 2022), 45% of the total tokens are currently in circulation, with around 54% already burnt.
SAITAMA’s Awareness In Public
Public awareness is an essential factor in increasing the demand for a crypto token. So, appropriately, the developers of $SAITAMA have established their online presence on various social media, including Twitter and Tiktok.
Their Twitter handle is very interactive with its 340k followers, which has helped the developer team develop quick solutions to any problems users are facing.
Well, Saitama also seems to have taken care of public awareness with the launch of various ventures. From educational platforms to NFT launchpads, the token has done well to accomplish the objectives on its roadmap.
In January 2022, the developers launched the SaitaMask wallet. This application not only acts as a secure cryptocurrency wallet allowing you to buy, sell, swap, or stake a host of cryptocurrencies through a single application, but it also serves as an edutainment platform for new investors.
Saitamask has also spawned three other facets of the Saitama Inu ecosystem, the Saitama Edutainment platform and SaitaMaker.
The developers of Saitama claim that they are not just about the crypto and that content is the central core of their project. To facilitate that claim, they have launched the Saitama Edutainment platform, which hosts a multitude of educational content training budding investors.
The educational venture will allow all token holders to access high-value content based on awareness about investing, finance management, and cryptocurrencies.
Saitamarket is another tool to connect $SAITAMA holders. On this medium, people will be able to sell their goods and services with the help of DeFi-based peer-to-peer payments using their Saitama tokens.
The Saitamaker is meant to be an NFT (non-fungible tokens) platform, where people can buy, sell and promote their intellectual property using the Saitama monetary system.
Is Saitama Safe?
Saitama was audited safe by rigorous security auditor Certik in December 2021, 6 months after the coin was launched. With an all-time high score of 93/100, Certik has also verified that the SAITAMA ecosystem is hacker-resistant and devoid of any significant bugs or issues.
However, questions were raised on their security standards after a DDoS attack was carried out on its recently launched platform SaitaMask, which rendered the application unusable for most users.
The dev team had consequently clarified that the attack was not a breach of security but just a harmless attempt to delay the launch of the multi-functional app.
What’s In Store For The Future
The Saitama token has undoubtedly achieved all the milestones on its whitepaper and has already taken ambitious steps towards growth.
The core company has launched the Saitama Studios division, which already has third-party games and original franchises in the works.
Furthermore, a live-action multiplayer video game called Wolfcaster is also in the making, as claimed by their official website. Another retro-game of the same name is also being used as a P2E (Play-To-Earn) platform, where players can play the game and obtain collectibles and game items in the form of NFTs.
In September 2021, Saitama LLC also announced a $50 million multi-year partnership with Blaze Fire Games encompassing exploding fields like gaming, e-sports, blockchain education, and NFTs within.
The company also plans to hold major charity events and donate to causes like global education and upliftment of children.
Saitama Inu Market Analysis
On CoinMarketCap, a popular crypto analysis and statistics website, SAITAMA’s market cap was $1,213,340,946 at the start of February 2022. Its Fully Diluted Market Cap stood at $2,810,978,506.
Saitama’s Performance In The Past
According to CoinMarketCap, the initial price of Saitama at launch was $0.000000000066, with a 24-hour trade value of 241,605.56 dollars.
Within six months, the price was soaring high at the cost of $0.000000173 as recorded on 13th November 2021, which is a whopping 2621 times its original price. At this point, the 24-hour trade value of SAITAMA was seen to be $225.4 million.
Although its heydays were short-lived, its value gradually descended to a price of $0.00000007533 by the end of the month.
On Dec 4, a large-scale crypto theft took place at the Bitmart cryptocurrency exchange, a portion of which was also $SAITAMA assets. Reportedly, $28.5 million in SAITAMA tokens were stolen from the platform.
The token also saw a consequent decline in price, with the price hovering as low as $0.00000003636 on Dec 6, 2021.
Since then, it has seen a series of small gains and consequent, bigger falls in its pricing.
While there are speculations that Saitama will repeat its November heroics soon, it is wise to conduct in-depth market research before investing.
Saitama Inu is a reasonably young coin to make predictions about but has shown promise in its performance on the charts and its core mission: to provide the youth with safe, stable, future-defining investment opportunities.
It may be a meme coin, but the token seems to be working for far more noble causes to be generalized so soon.
While its ecosystem has been deemed safe, a detailed study of its market should be done before plunging in.