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:

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.

Bitcoin is down more than 60% year-to-date, and Ethereum and the broader crypto markets have also largely followed suit.

One crypto coin, however, has been attracting a lot of attention in recent weeks due to its strength compared to other projects.

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.

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