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  • Writer's pictureSarah Dixon

Dogecoin And Meme Tokens Rally is Not Over and May Continue in 2023

If there’s one type of asset that has been doing particularly well in the past week, it’s meme coins. Nearly all assets have picked up, but meme coins are far and away the best performers. Just take a look at Dogecoin (DOGE), which is up by over 150% in the past week – largely thanks to Elon Musk’s purchase of Twitter.

But that’s not the only meme coin that has been doing well. One other project, Tora Inu (TORA), is proving to be a dark horse with enormous potential as we head into 2023. In fact, next year may just be the year for meme coins in general.

2023 Shaping Up to Be Massive for Meme Coins

Dogecoin has had a remarkably successful week because Elon Musk is such a big supporter. Musk even tweed a picture of a dog on November 1, which helped sparked a 22% rally in four hours. Leading up to the news of the acquisition, DOGE kept rising and broke past the $0.10 mark.

Tora Inu might not seem like much compared to that – but it has the potential to be as well-known or perhaps even more. It’s one of the most unique meme coins to come out of the market in recent times and could help spur a meme coin revolution in 2023.

What makes Tora Inu such a strong contender as we head into the new year is the fact that its tokenomics really rewards its holders. The tokenomics features a burn mechanism where, as more transactions take place, more rewards get distributed. This reduces supply which further increases demand and positive price pressure. Simply holding the TORA token should also boost the price.

The idea of what meme coins can be has changed in 2022 and it’s looking like 2023 will be when they take off. Tora Inu is a perfect example as it offers additional features on top of the burn mechanism. The project will launch a P2E game and metaverse that uses NFTs. Players can battle each other or the environment with their NFTs, which can be leveled up. They are rewarded in NFTs.

The TORA presale implements an incremental price increase method which will see the price of the TORA increase as it is sold across its various phases. The project has not hosted a private sale, with there being only the beta sale until phase 3.

Could Tora Inu Dominate in 2023?

The truth is meme coins look like they’re here to stay. Dogecoin has proved that this kind of asset can survive many years in the market and still continue to rise. However, there’s also no doubt that meme coins need to evolve and that’s precisely what Tora Inu is doing. 2023 is looking like it could be dominated by meme coins and TORA in particular.

Disclaimer: This is a paid release that was not written by Crypto Online News. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Crypto Online News. Crypto Online News does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.

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