As Pound Crashes to Record Low, Will Investors Flock to This New Crypto Coin?
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The price of the British pound (GBP) has fallen to a new record low against the dollar after a new mini-budget threatened to undermine confidence in the UK economy.
With the pound in freefall, some investors are looking at Tamadoge as an alternative.
The pound plunged to $1.0327 just a day after the UK Chancellor, Kwasi Kwarteng, announced a new mini-budget that outlined new tax cuts and spending measures.
Some economists have suggested that the sell-off could force the Bank of England (BoE) to step in and take measures to support the currency.
Scottish MP, Ian Blackford tweeted:
With bond yields rising and £ falling this is a demonstration that UK assets being dumped as the markets give their judgement on the UK budget. The Bank of England will have no option but to step in to attempt to restore order on a problem created by @trussliz and @KwasiKwarteng— Ian Blackford 🇺🇦🏴 (@Ianblackford_MP) September 26, 2022
Social media platforms are rife with speculation about a potential emergency rate hike by the BoE by as much as 100-150bps.
This recent price action by the pound follows a long list of national currencies and assets which have lost value against the USD.
One crypto coin, however, has been attracting a lot of attention in recent weeks due to its strength compared to other projects.
Tamadoge Prepares to Launch on OKX After Successful Presale
Tamadoge, the deflationary meme coin with utility, is preparing to list on OKX exchange following a successful $19 million presale.
According to the official Twitter page, OKX will list $TAMA on Tuesday, 27 September 2022, at 12 PM BST.
#NewListing Announcement 🔔— TAMADOGE (@Tamadogecoin) September 23, 2022
We Are Proud To Announce That @okx Will Be The ONLY Primary Exchange To List $TAMA! 🚀
Listing Date 🗓️ Tuesday, 27th Of September
Listing Time ⏰ 12pm BST
Sign Up Now!- https://t.co/6UigD4Xq2d #memecoin #crypto #listing #okx pic.twitter.com/06q2FqiVyG
OKX is one of the leading cryptocurrency exchanges on the market, consistently ranking in the top 3 in terms of daily trading volume.
The announcement has created a frenzy on social media as crypto enthusiasts prepare to trade the newest coin on the block.
Shiba Inu did 50x after being listed on a top exchange… will $TAMA do the same?