As seen in the above image, we spotted the FEG crypto token while searching for new altcoins with promising potential using Moralis Money. Upon discovery, we decided to analyze FEG Token further and present our research so you can understand what the project is all about, how you can buy the FEG coin, and whether or not it’s a good investment. We’ll even try to determine if this cryptocurrency has the potential to reach the one-dollar price mark.
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Now, without further ado, let’s dive into the main topic of this article by exploring FEG Token!
What is FEG Token?
FEG Token is a rebranding of the existing DeFi project “Feed Every Gorilla” (FEG), launched in 2021. It’s also worth pointing out that the “old” project (before rebranding) created FEGex (exchange). That exchange suffered from an exploit, which resulted in a complete loss of LP funds. As a response to that exploit, the FEG team pledged to assist the affected projects.
This rebranding is more of a “second shot” for the FEG team. As such, in March 2023, this project was not only rebranded, but the FEG token also migrated to a new smart contract. This migration affected this project’s tokenomics, and we might as well treat it as a new project. However, the project’s socials and the team behind it are the same.
In case you got some old FEG tokens and want to migrate, you need to visit “fegtoken.com” and launch the project’s migration tool:
The FEG Token project’s new website states that its goal is to build an ecosystem and passive income around a governance token. The project invites users to trade crypto assets using the FTW non-custodial, peer-to-peer (P2P), limit-order platform.
By trading crypto assets with FTW, FEG Token claims that users will be able to earn passive income with their asset-backed governance token.
Furthermore, the project uses its new website to indicate the evolution of the FEG ecosystem. The latter is eventually supposed to include the following:
- FEG SmartDeFi (new token is already live, staking not yet)
- SmartDeFi (not yet live)
- FTW (not yet live)
- Aggregator (not yet live)
- Grafene wallet (not yet live)
- Deployer (not yet live)
You can find more details about the three main features in the following subsections. As for the expected timelines for when to expect these features, have a look at the FEG crypto roadmap:
FEG SmartDeFi – The New FEG Token and Staking
The idea behind the new FEG crypto token was to create one unified token with increased utility.
The FEG team wants to ensure this token is utilized for asset-backing and interest-free lending. So, a core functionality of FEG SmartDeFi is the staking feature of the FEG token. According to the FEG team, the new token has improved tokenomics that align with the new project’s needs.
Looking at the above roadmap, you can expect FEG staking to be released in the second quarter of 2023.
SmartDeFi – Fully Audited Launchpad
According to “fegtoken.com,” SmartDeFi will be a fully audited launchpad allowing anyone to create a cryptocurrency. Through FEG SmartDeFi Deployer, other projects will get to create crypto tokens that will be asset-backed. This asset-backing is supposed to give rise to an ever-increasing minimum base value and a new lending protocol: SmartLend. The latter should allow interest-free loans, which will be taken out against the backing pool.
Aside from using SmartDeFi to mint tokens, FEG Token’s documentation explains that this launchpad will allow projects to presale, launch, and build a staking protocol for the minted tokens. Moreover, SmartDeFi users should be able to do all of that with a few clicks.
The SmartDeFi launchpad was used to create the new FEG crypto token, which is now live on Ethereum and BNB Chain. These are also the two networks that other projects will get to focus on initially. However, the team plans to expand the FEG ecosystem across other EVM-compatible chains.
From The Wallet (FTW) – P2P Non-Custodial Limit Order Platform
FTW, or “From The Wallet,” is a limit order trading platform that the FEG Token team plans to launch in the third quarter of 2023. FTW is supposed to allow users to trade directly from their Web3 wallets to other users (P2P). As such, users will get to maintain possession of their cryptocurrencies or NFTs throughout the trading process.
If you wish to dive deeper into SmartDeFi, FTW, and other upcoming features of the FEG crypto ecosystem, make sure to visit the project’s documentation.
How to Buy FEG
There are several ways to buy FEG. After all, the token is live on Ethereum and BNB Chain. If you prefer to use decentralized exchanges (DEXs), you can buy FEG on PancakeSwap (BNB Chain) or Uniswap (Ethereum). In that case, you will either need some wrapped ETH (wETH) or wrapped BNB (wBNB).
On the other hand, there are also already some centralized exchanges (CEXs) that offer this altcoin, including Gate.io, BitMart, and BKEX.
You can also use a fiat-crypto bridge like Guardian.com to buy FEG. Whichever of the above options you prefer, you can find detailed instructions in the FEG Token docs:
Is FEG Token a Good Investment?
According to our latest Moralis Money search, which spotted the FEG crypto token, the token is gaining some on-chain momentum. However, while the metrics show some positive action, looking at the numbers on lower timeframes sheds some light on if FEG Token is a good investment or not:
Moralis Money Pro enables us to see FEG’s activity on a daily timeframe (see the screenshot above). However, we can go down to the last hour, and you can see that the numbers are positive but quite small.
So, to help you decide if PEG is a good investment, make sure to look at the token’s price action:
The above chart shows that after the new FEG coin was launched, its price dropped by slightly more than 20%. Then, the token rallied for a 60%-plus increase. However, since FEG’s last high at $0.000931, the price pulled back below the previous low at $0.0005765 and is still below that level. The last 30%-plus rally may indicate that the token is ready for a trend reversal. Still, for a more reliable technical analysis (TA), there’s just not enough data.
All in all, you can spot profitable opportunities with Moralis Money. Now, if you like the FEG Token project and believe it can deliver on all its promises, now may still be a good time to invest in this crypto asset.
Can FEG Reach $1?
Whenever we talk about price predictions, you need to keep in mind that they are pure speculations.
However, in the case of FEG, we can actually look at the old FEG token’s ATH (all-time high) market cap: $310 million. So, if the next bull run shows the same appreciation to FEG as it did the last one, the token price would reach $0.0062 (if FEG’s total supply would stay at 50 billion).
If the reborn FEG Token project succeeds, the $0.0062 price is highly realistic in the upcoming bull run.
However, if you want to speculate even further, you can consider the ATH market cap of the leading DeFi projects. The latter sits at about $30 billion. In that case, the price of FEG would be $0.6 per token.
So, if FEG becomes one of the leading DeFi projects, and if the upcoming bull runs set new ATHs, a $1 price point is theoretically possible. That would mean the FEG price would increase by roughly 2000x from its current level.
Analyze On-Chain Data Using Moralis Money
Now, it would be silly of you to limit yourself to a single project. Even if you decide that FEG is the crypto you want to invest in, you should still try to identify other opportunities.
Now is the best time to get ready for the upcoming bull ruin. However, many Moralis Money Pro users have already been making some incredible gains by spotting new and established coins before their last rallies. Some examples include:
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- The WOJAK token
- Radiant Capital’s RDNT coin
- The PEPE token
- The XEN crypto asset
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Getting Started with Moralis Money
If you are looking for the simplest and the fastest way to get going with Moralis Money, just visit this online tool’s homepage and select one of the preset filters:
However, to start spotting unique opportunities that have even greater potential than the FEG crypto token, make sure to apply the following “crypto for dummies” steps:
- Open Token Explorer.
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What is FEG Token? The FEG Crypto Ecosystem Explained – Summary
In today’s article, you had a chance to learn all you need to know about the FEG Token project.
After experiencing an exploit, this project is determined to make a strong comeback. They’ve migrated the FEG crypto token to new smart contracts on Ethereum and BNB Chain. Moreover, they plan to create quite an impressive FEG ecosystem in 2023.
However, only time will tell if the FEG team will manage to deliver on their promises and if the project will be a success. It’s up to you to consider your altcoin trading strategy and determine if FEG deserves a spot in your portfolio.
Along the way, you also learned about an incredible on-chain tool: Moralis Money. Make sure to start running your unique queries today. After all, now is the best time to sharpen your tools and skills to prepare for the upcoming bull market.
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