🐶 IguVerse (IGU): Project Review & Analysis

What is IguVerse (IGU)?

IguVerse is a blockchain project that aims to connect social media users and advertisers through a decentralized ad platform. It is designed to introduce blockchain to millions of users in a gamified way, combining high-end AI/ML and blockchain solutions within a cross-platform mobile application.

The project's core component is Reptile, a scalable, low-cost, and fast EVM-compatible blockchain developed specifically for GameFi and DeFi applications. Reptile is built on an improved Proof of Stake (PoS) technology that encourages decentralization. It utilizes the IGU token, which allows for minimal fees due to an enhanced EVM. In terms of speed, Reptile is designed to be on the higher end of EVM-compatible blockchains. The blockchain is also designed for the efficient onboarding of GameFi and DeFi apps.

Within the IguVerse application, users can generate unique NFTs either from photos of their real pets or with the help of Artificial Intelligence. The IGU token has several uses in the IguVerse ecosystem, including NFT minting, ranking up and leveling up NFTs, restoring unusable NFTs, and purchasing mystery boxes. The IGUP token, another token within the ecosystem, is used for feeding pets and is deflationary due to token burn.

The IguVerse app offers various activities for its users. They can monetize their daily online activities by posting content on social media and being a part of a new pet-centric community. The app features a reaction-based mini-game where users can compete and aim for the top of the leaderboard. Users can also earn rewards through physical activities like jogging, running, and walking, as the app promotes fitness through the user's digital pet.

The platform also has a referral program that allows users to invite others and earn more rewards. Users can compete in player-vs-player (PvP) games and earn generous rewards, with PvP gameplay increasing rewards from the main tasks.

According to their website, the IguVerse app has been downloaded over 600,000 times across the App Store and Google Play, with a community of over 800,000 and daily active users exceeding 100,000.

More than $4 million worth of NFTs have been minted by IguVerse users, and over $50,000 has been donated to animal welfare organizations through the platform.

Current Price:

The chart above provides the current trading price for this project and can be set to display various time frames, including the entire price history for the project:

Should You Invest in IguVerse (IGU) Now?

The indicator below is provided by Trading View and is an algorithm that includes many commonly used technical indicators such as trendlines, moving averages, and momentum indicators, aggregated into an all-in-one "Buy or Sell" indicator for this project.

This is the current buy/sell sentiment based on technical indicators:

Was it a Good Investment?

This article was published on June 30th, 2023 when the trading price for IGU was $0.16.

A $1,000 investment in this project would have bought 6,250 tokens.

Today that $1,000 investment is now worth:

IguVerse Project Links:

Website: https://iguverse.com/
Twitter: https://twitter.com/i/flow/login

Before Investing in any Crypto Project

It is important before making any decision to purchase any cryptocurrency, to research and analyze the project as well as Do Your Own Research (DYOR). This can include performing both a technical and fundamental analysis of the project.

If you are a crypto investor considering this project, here are some initial factors to consider before making an investment.

Initial factors to consider:

Historical performance: How has project the performed? Examine both the short-term and long-term performance to better understand the stability or volatility within the price. Look at where the price is trending, both in the short-term and long-term.
Volume: Analyze the trading volume of the cryptocurrency to see if there is sufficient liquidity and market demand to be able to sell when needed. This is especially important when dealing with low-capitalization altcoins.
Market cycles: Be conscientious of market cycles and how they may impact the price of the cryptocurrency, this can include the overall market trend (bull/bear market) as well as the cycle for the specific project.
Market sentiment: Observe the general sentiment of the market regarding the project and assess if it is positive or negative towards the future market price of the project.
Market events: Search for any major current or near future events that may have an impact on the future price of this project. This can include upcoming new releases, public partnerships, or even regulatory developments.

It is important to note that past performance is not a guarantee of future performance. This is especially true for cryptocurrency projects as this is a highly volatile (and speculative) market.

If you have decided to move forward on the project, it is worth conducting both a technical and fundamental analysis of the project (especially if you are considering holding for the longer term).

If you are looking to make a quick return on your investment, it's possible to just look at the technical analysis to determine your buy-in and selling price. If however, you are looking to hold for the longer term, it's necessary to also take into consideration the fundamental analysis.

Technical Analysis (When to Buy or Sell)

Technical analysis is a method used to evaluate the price movement and trends of a cryptocurrency by analyzing its historical price data and chart patterns to determine the probable future price movement..

The aim of technical analysis is to identify buying and selling opportunities by analyzing market trends and making predictions about future price movements and is one of many tools used to determine probable future movement by analyzing data and statistics gathered from historical trading activity, such as price movement and volume.

Technical analysis is important because it can help investors to identify potential buying and selling points based on past price movements and market trends.

When conducting technical analysis for purchasing a cryptocurrency, the following factors should be taken into consideration:

Charts: Analyze the price charts of the cryptocurrency to identify trends, support and resistance levels, and chart patterns
Indicators: Use technical indicators, such as moving averages, volume, and oscillators, to gain insights into market sentiment and potential buying and selling points.
Trends: Identify the long-term and short-term trends of the cryptocurrency, including bull and bear markets, and make predictions about future price movements.
Volatility: Observe the volatility of the cryptocurrency and assess if it is suitable for your risk tolerance and investment strategy.
Market events: Consider any market events that may impact the price of the cryptocurrency, such as news, partnerships, or regulatory developments.

Fundamental Analysis

Fundamental analysis helps in determining the long-term success of a cryptocurrency project and this is especially important if you are looking to hold the cryptocurrency for a long period of time. If you are only interested in short-term gains, you may ignore this can go straight to the technical analysis.

Fundamental analysis is a method to evaluate the "intrinsic value" of the crypto project and the following factors should be taken into consideration:

Technology: Evaluate the technology behind the cryptocurrency, including its security, scalability, and potential for future developments.
Adoption: Assess the level of real-worldwide adoption and usage of the cryptocurrency, as well as its potential for future growth.
Competition: Analyze the competition in the market and how it may impact the demand and value of the cryptocurrency.
Team and leadership: Look at the team behind the cryptocurrency and their experience, track record, and plans for future development.
Partnerships: Consider any partnerships or collaborations that the cryptocurrency has established, as they may impact its future growth and adoption.
Regulatory environment: Analyze the regulatory environment and legal status of the cryptocurrency in your country, as it may affect its future value and adoption.
Financials: Examine the financial health of the cryptocurrency, such as its revenue, expenses, and market capitalization.

Conclusion:

Before investing in any cryptocurrency project, it's important to perform your own research and due diligence. In doing so, you will help to minimize your risk and maximize your gains on the investment.

If you would like to learn more about investing in cryptocurrency, read our investors guide: