Tamadoge finally launched and can now be traded in exchanges such as OKX. Throughout the year, Tamadoge had been among the most hyped yet launched projects, partly due to many in the cryptocurrency memecoin communities seeing it as a competitor to Dogecoin and Shiba Inu.
The view as a major Dogecoin and Shiba Inu competitor was not far off. Tamadoge is a memecoin that takes a different approach to the traditional memecoins. Instead of exclusively relying on its popularity and user traction for it to rise in price in the markets, the project ventured into the NFT industry by creating Tamaverse, a metaverse that users are able to create, breed, care and battle Tamadoge pets.
Besides the Tamadoge, the project also created a marketplace where users can buy non-fungible tokens. On the marketplace, Tamadoge is used as the primary means of exchange, thereby giving it utility, unlike other memecoins that depend on user traction to continue gaining in the markets because they have no real-world use.
Tamadoge Price Prediction
Tamadoge is less than a week in the market. Today, it trades at a $0.023 price level, a drop of 10 per cent from yesterday’s trading session.
However, based on the current cryptocurrency market conditions, I expect its price to continue dropping as the industry continues to struggle. It is highly likely that, in the next few trading sessions, Tamadoge will be trading below the $0.020 price level.
With only a market capitalization of $23 million, the project’s trading volume in the past 24 hours has been impressive, an indication that despite the anticipated drop, it has a huge user base already transacting using the memecoin.
The main advantage of this is that it will recover swiftly once the cryptocurrency industry starts another bullish trend. However, for now, my technical analysis and speculation are limited due to the cryptocurrency has been tradeable on exchanges for less than a week.