There is a wave of younger investors getting involved in cryptocurrency, but the majority are confused and frustrated by the industry. At least, that is the claim from Saitama, a new token and platform designed, it says, to educate this generation.
Following the release of its mobile wallet, Saitama has gained a lot of attention. Its aim is to bring educational and easy-to-use platforms to the crypto world. But Saitama has run into problems along the way and its token is struggling to make a dent in the busy crypto market.
What's the Saitama coin price prediction? Does Saitama coin have future? This article will show you the answer.
What is Saitama (SAITAMA)?
The goal of Saitama is to inform younger investors by making crypto simple, safe and easily accessible. Its target market is Generation Z (people born between 1997 and 2012), 93% of whom feel confused and frustrated with regard to cryptocurrencies, according to the Saitama whitepaper.
Saitama plans to release an ecosystem of products to drive education and adoption for crypto’s younger userbase. This includes a smart wallet, marketplace, NFT platform and educational content platform.
Its ERC-20 token, SAITAMA, was built for transactions on the platform, with tokenomics that benefit its holders. From every transaction, 2% is deducted and given to a pool of its holders as a form of passive income. Another 2% of every transaction is burned, a deflationary tokenomic system designed to make it more valuable.
Saitama argues that, unlike most meme tokens, it has real value, which is derived from this ecosystem. If the token’s price history is anything to go on, there certainly seems to be a strong community and demand for it. But can it keep its users engaged and reach $0.01?
Saitama’s bullish beginnings
SAITAMA is a relatively new token, as it only launched on 18 June 2021. The name comes from an alleged ghost dog that roams around the Saitama prefecture in Japan, and the founders have remained anonymous. It opened at $0.00000000004 (four billionths of a cent) and stayed around that level for the next couple of months. However, it was not long before the token saw its first price surge.
On 24 September, Saitama revealed the beta test for its SaitaMask wallet, a mobile app that is accessible for any level of investor and allows its users to keep track of their investments, and by 27 September 2021, the price had climbed to $0.000000015 (1.5 millionths of a cent).
SAITAMA climbed even higher in October, following multiple announcements that excited its community, which likes to be known as the Wolfpack. Willie Dennis, a member of the rap group Geto Boys, joined Saitama on 12 October. His role was to secure high-level partnerships in several industries, including entertainment. The SAITAMA price reached $0.00000002 (two millionths of a cent) on 17 October 2021.
One day later, the cryptocurrency exchange BitMart announced it was listing SAITAMA. It only paired the token with USDT. But by 26 October 2021, the day the listing went live, the token had raced to $0.00000007 (seven millionths of a cent).
The momentum stuck with SAITAMA and the token continued to grow. Early November saw a bullish market for meme tokens, including dogecoin, and the educational coin was no exception. On 3 November 2021, SAITAMA ballooned to $0.0000001 (one hundred-thousandth of a cent).
There was another potential cause behind SAITAMA’s growth at the beginning of November: it had revealed a launch date and event for its wallet. The launch event of SaitaMask took place in the Hakkasan Nightclub in Las Vegas on the evening of 13 November.
According to a press release, the event featured former NBA and NFL players, along with hip-hop artists and Hollywood stars. Following the party, SAITAMA reached its all-time high of $0.0000002777 (2.777 hundred-thousandths of a cent) on 16 November 2021.
Saitama turns bearish
The token quickly plummeted after the party, which was driven by a number of factors. First, Saitama delayed bringing its wallet to the masses, and said it would not be released for several weeks.
Even worse news hit Saitama’s self-described Wolfpack community later that month. Dennis’s previous conviction for wire fraud from 2010 came to light, and a warning was placed on Saitama’s CoinMarketCap profile, which has since been removed. By 26 November, the SAITAMA price had fallen to $0.00000006.
The price did see a momentary spike on 29 November, after a listing on crypto exchange LAToken. Like Bitmart, it only listed a pair with USDT. Still, SAITAMA continued crashing into the next month, stooping to $0.00000003 (three millionths of a cent) on 17 December.
The beginning of January 2022 proved to be a more successful moment for the educational token. While many cryptocurrencies were on a bearish trend, SAITAMA was soaring. On 3 January, Saitama revealed a five-day countdown to the release of its mobile wallet. The price climbed to $0.00000008 (eight millionths of a cent) the following day.
SaitaMask finally launched on 8 January, but there were still setbacks for the native wallet. Several listings on the platform were delayed, which resulted in many tokens deciding not to go through with it, including Lilly Finance.
SAITAMA was on a bearish trend for most of February 2022. But it started climbing again on 28 February after an update to the wallet, with a closing high that day of $0.00000001799. However, on 4 March the coin went on a stark downturn, opening that day at $0.00000001789, but falling to $0.00000001089 on 18 March 2022.
The token witnessed another surge on 28 March 2022 as it was listed on the OKX exchange with a USDT pair. It peaked even higher this time at $0.000000018. The following month it also revealed it was going to be listed on the Hotcoin exchange.
In May, Saitama announced major news that its token was undergoing a drastic migration to a version two update. The reason behind this move was to improve security with multi-sig wallets, become more exchange-friendly and move away from the ‘meme token’ category.
This upgrade will dramatically reduce the supply, in the hope of improving its price. One million original Saitama tokens can be traded for one Saitama version two token.
It wrote in a PDF: “Saitama started as a meme token inspired by a popular anime series and was part of the INU dog-themed sub-group…The V2 contract will see INU finally gone for good and will classify Saitama as a utility token, helping us with our objective to become a top project in this space.”
At the time of writing, on 27 May, Saitama is trading at $0.000000003. Will the migration see this rally continue for the new utility token?
Saitama coin price prediction
A wide range of Saitama price predictions are available, with some analysts expecting huge rises and others forecasting a downward trend.
CoinCodex has a mixed view on the potential of Saitama. It expects it to rise 5.57% by next month, but its Saitama price prediction for 2022 forecasts the coin will be bearish – which, it says, “could be an indication that Saitama Inu is a bad buy”.
Meanwhile, PricePrediction.net expects steady growth for the cryptocurrency. It forecasts the price to reach $0.00000001in 2023. It expects the token to break past the $0.00000003 barrier in 2027, while its Saitama price prediction for 2030 is $0.00000010.
DigitalCoinPrice has a similar prediction for Saitama, with the token expected to have an average price of just $0.00000000657 in 2022. Its Saitama price prediction for 2025 is a marginal increase to $0.00000000949, and it forecasts the coin to reach $0.0000000228 in 2030.
Crypto Academy gives a much more bullish Saitama coin price prediction and said it can soon reach $0.000001. It argues that SaitaMask could flourish in 2023, and that this could see its token grow.
Saitama has ambitious plans, with the arranged 2022 release dates of its NFT platform, marketplace and the second version of its token. The network’s previous launch event has seen its token soar and then subsequently plummet after multiple delays to its wallet. It could be an exciting year for SAITAMA, but the project still has a lot to deliver.
How many Saitama coins are there?
According to CoinMarketCap, there is a total supply of over 44 quadrillion SAITAMA. The token uses a deflationary mechanic, with 2% of every transaction being burned. This means the supply will shrink over time.
Is Saitama a good investment?
It might be. Saitama only launched in 2021 and saw its token skyrocket that November. However, the price has since dropped and is currently hovering around $0.000000003.
Saitama, like every cryptocurrency, can be volatile, so you should never invest more than you can afford to lose.
Does Saitama coin have future?
Most price predictions think SAITAMA will increase over the following years. Crypto Academy forecasts the token to reach $0.00001 in 2023 as its platforms become widely adopted. However, CoinCodex predicts a bearish market for the cryptocurrency.
What's the Saitama coin price prediction? Does Saitama coin have future? You must have found the answer now.
