Moving forward, you’ll first get to learn what Osaka Protocol is. To start, we’ll cover this crypto project’s basics, serving as a fundamental analysis (FA). Using our FA, we’ll do our best to determine if the Osaka Protocol crypto project is legit or not. With the basics under our belts, we’ll be ready to focus on the OSAK token and its price action. As such, we’ll go over the asset’s complete price activity. We’ll also use the basics of technical analysis (TA) to outline significant price levels. We’ll also speculate on a future OSAK crypto token price forecast
As for the concern regarding whether you should buy the OSAK crypto or not, you’ll get to use the ultimate on-chain analysis tool – Moralis Money. The latter will help you come up with a valid answer at any given moment. Plus, with this tool in your corner, you’ll also get to buy $OSAK without breaking a sweat or the bank!
What is Osaka Protocol (OSAK)?
The Osaka Protocol crypto project is a sort of meme/DeFi hybrid project. As you can see in the above screenshot, the project has its own dog mascot (a black Shiba Inu dog). The latter goes by the name “Osak”. Evidently, this portrays the project’s “memetic” side, which pays tribute to the Shiba Inu project. Interestingly, the protocol even uses the same smart contract as SHIB
Exploring the Osaka Project
The project’s official website uses the tagline “rebirth of true decentralization” to describe Osaka Protocol. Aside from its slogan, the website offers additional text explaining how the protocol aims to create an environment of equality and shared responsibility.
So, to achieve this noble cause, the project’s design promotes the concept in which ownership percentage determines one’s level of responsibility and influence. The larger the stake, the larger the responsibility and influence.
This approach tackles the shared responsibility aspect. However, as for the equality aspect, it evidently causes inequalities as holders with more significant stakes get more power.
The Osaka Protocol crypto project’s About section further explains the gist of it. It starts by pointing out that the protocol brings the original rule of Shiba Inu back. So, by following the vision of SHIB’s creator (Ryoshi), this project claims to prioritize decentralization.
The Osaka Protocol Crypto Project’s Team
As part of the Osaka Protocol crypto’s promise to follow the original rules of Shiba Inu, decentralization is at the front and center of this project. This also means that there is no developer team. According to the project’s website, every holder of this protocol’s native token is the dev.
So, while the project has been handed over to the community, there was initially at least one person behind the creation of Osaka Protocol. After all, someone had to create the project’s official website and social media accounts and mint the OSAK token.
This brings us to Mephisto. According to a Medium post, Mephisto is to the Osaka Protocol crypto what Ryoshi was to Shiba Inu. This person/group created the OSAK crypto but is giving it to the community.
Osak Army
Again, following the SHIB’s example, the Osaka Protocol crypto project’s community goes by the name Osak Army. Anyone with internet access has a chance to join this community, and since this community is the project’s team, the project’s official website offers instructions on how to become part of the OSAK team:
Aside from Osaka Protocol’s $OSAK Telegram group, the project also has an X (formerly Twitter) account:
DeFi Aspect of Osaka
Osaka Protocol is arguably more a meme coin than a DeFi token. That said, the project gives users access to its special dapp, where $OSAK holders can farm this token. To access the Osaka dapp, hit the “Go to dapp” button on the project’s website:
The initial 45-day farming option has already expired. However, secondary 180-day Uniswap liquidity pool farming is still available:
Aside from the above-mentioned farms, the protocol also gave 45 days to users who might have sold their SHIB tokens too early to claim their share of $OSAK. The unclaimed portion of that stack represents the above 180-day farm.
Is the Osaka Protocol (OSAK) Crypto Legit?
The Osaka Protocol crypto does seem legit. Tools like DexTools have given the project a solid score. The former gives OSAK 99 out of 99. Moreover, Moralis Money’s more advanced scoring gives it quite an impressive score of 86 out of 99:
The protocol uses Shiba Inu’s smart contract, which has a proven track record. Plus, the on-chain data confirms Mephisto’s claims. For instance, 50% of the token’s total supply was “burned” by sending it to “Shiba Inu: Deployer” with an address of “0xb8f226ddb7bc672e27dffb67e4adabfa8c0dfa08“.
Still, we encourage you to research the project further so you can answer the above question yourself!
Full OSAK Token Analysis
Whether you want to join the Osak Army or just trade $OSAK, you ought to know the basics of this crypto asset. To that end, we offer you the following subsections, which cover OSAK’s tokenomics as well as a price analysis of OSAK
OSAK Crypto Tokenonics
- Project name: Osaka Protocol
- Token symbol/ticker: OSAK or $OSAK
- Network: Ethereum
- Token type: ERC-20
- Smart contract address: 0xa21Af1050F7B26e0cfF45ee51548254C41ED6b5c
- Minted on: April 6, 2023
- Initial total supply: 1,000,000,000,000,000
- Token distribution:
- 10% initial liquidity pool (LP)
- 30% airdrop to users that sold SHIB
- 10% LP farm incentive
- 50% to Ryoshiresearch
$OSAK Price Action
The OSAK crypto asset started to trade on Uniswap on April 23, 2023. The initial LP represented 10% of OSAK’s total supply and was paired with ten ETH. This set the token’s listing price at $0.0000000002059. However, the asset didn’t stay that low for long. After all, on the third day of trading, $OSAK closed its daily candle above $0.000000001, nearly five times above the listing price.
As you can see in the above daily chart, the token stayed in the $0.000000001-ish region over the following week. However, on May 5, 2023, OSAK exploded. It went from $0.000000001827 to as high as $0.00000005959 in less than three days.
The high set on May 7, 2023, is still the token’s all-time high (ATH). But it’s worth pointing out that the daily candles couldn’t manage to close that high. In fact, the highest daily close at that time was at $0.00000001938 (three times below ATH).
Due to high sell pressure, the OSAK price pulled back further. It went more than 75% lower than the aforementioned daily close. It wasn’t until June 15, 2023, that the asset found its local bottom at $0.000000004601.
On the following day, $OSAK started its steady climb from that level. By July 14, 2023, it increased by more than 400%. However, that run wasn’t able to break above $0.00000003. As such, the token took a 26-day breather, during which it traded mainly sideways in the $0.00000002-ish region.
On August 10, 2023, the OSAK crypto token rallied again, this time increasing by approximately 120% in six days. On this occasion, the asset set its highest daily close ($0.00000005629) but did break its ATH.
OSAK Basic TA
The above image indicates all the current significant levels for the OSAK token price. You can see that the asset pulled back from its last high down to the $0.00000002-ish region and is still trading above the important support at $0.000000022-ish.
Further, you can notice that the trading volume was lower during this latest retrace than during the upside move. This also indicates that the asset may be able to stay on top of the current support. Plus, the candle wick on September 10, 2023, neatly retested the level set as resistance back on May 8 of the same year.
However, you can also see that the price is still below the downsloping trendline (white line). So, in case that line rejects the price, it could revisit lower support levels. On the other hand, if the rest of the crypto market doesn’t pull back further, OSAK should be able to break out of that downtrend soon.
Future Forecast of the OSAK Token Price
By looking at the above chart, we can see that OSAK may soon be ready for another leg up. In that case, it may even manage to set its new ATH.
In such a scenario, the token’s price would enter a price discovery mode. Hence, we can use the Fibonacci retracement tool to speculate on some potential price targets. And the most optimistic target (the “4.236” extension level) points to $0.0000001713. That is approximately seven times higher than the current OSAK price.
Can OSAK Follow in SHIB’s Footsteps?
Keep in mind that there’s no accurate and reliable way to determine future prices of cryptocurrencies. After all, the entire crypto market is highly volatile and rather unpredictable. So, the best way to stay on top of things is to use TA in combination with real-time, on-chain metrics.
However, before we tell you where you can do that, let’s play around with a thought of the OSAK token following in SHIB’s footsteps. So, how high would the price of $OSAK go in that case?
By considering SHIB’s ATH prices, we can see that such a scenario would put OSAK at approximately $0.000075. That’s more than 3,000x above the current OSAK price.
How likely do you think this scenario is?
Should You Buy the OSAK Cryptocurrency?
The above sections should be more than enough to help you decide if the Osaka Protocol crypto deserves your further attention. If not, then by all means, move on to other altcoin opportunities right away.
However, if you find OSAK interesting, make sure to research the token further. Fortunately, there’s no better tool to do so than the Moralis Money Osaka Protocol ($OSAK) token page. So, follow the link in the previous sentence or simply use the interactive widget below to research the OSAK crypto coin properly.
Aside from useful links and resources, you’ll also find the token’s real-time, on-chain metrics (a.k.a. alpha metrics) on that page. By looking at these metrics on different timeframes, you get to determine what is going on with the asset’s on-chain momentum. And since on-chain activity always precedes price action, you get to determine if now’s a good time to buy OSAK.
Where and How to Buy $OSAK?
At the time of writing, Uniswap is the only market where you can buy $OSAK. However, you do not have to deal with Uniswap’s dapp to access that liquidity. Instead, you can take a much simpler path, which awaits you right on the above-presented token page:
Moralis Money’s instant crypto swap feature is right where you are already researching the token. That way, you get to save time without having to visit another platform. Plus, it already preselects the OSAK coin, so you avoid the risk of landing on the wrong token pair.
Nonetheless, thanks to being powered by the 1inch aggregator, you get the best price available.
To use Moralis Money’s swap feature, just connect your Web3 wallet, select the token you want to use to buy $OSAK, enter the amount, and execute the swap.
Note: In case you need more detailed guidance, check out our step-by-step guide on how to swap ERC-20 tokens.
Osaka Protocol Review – What’s the OSAK Token & Is Osaka Legit? – Key Takeaways
- Osaka Protocol is a meme/DeFi hybrid project that went live in April 2023.
- The protocol pays tribute to SHIB by using the same smart contract and similar rules.
- OSAK is the protocol’s token, which is also the ticket to joining the Osak Army – the project’s community.
- The project is in the hands of its community and has no core team.
- The OSAK price has already reached more than 200x above its listing price; however, it is currently sitting on top of important support after pulling back by more than 65%.
- Use the Moralis Money $OSAK token page to determine if/when you should buy the asset.
Whether you decide to buy $OSAK or not, you need to keep in mind that there are many other altcoins out there, and Moralis Money is the go-to option to find the next coin to blow up.
With Token Explorer, you get to set unique search parameters and effortlessly find tokens before they pump. And, you get to do so across all the leading networks, including Ethereum, BNB Smart Chain, Polygon, Fantom, Arbitrum, and others.
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