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The price of tamadoge (TAMA) has risen by nearly 700% in a week, with the new altcoin also gaining by 8.5% in the past 24 hours. The moves follow TAMA’s listing on major centralized crypto-exchange OKX, while rumors surrounding a possible listing on Binance have also helped it sustain its momentum.
While some newly listed altcoins crash and burn in a matter of days following an initial listing, TAMA’s price chart shows it has gone from strength to strength. And with the Tamadoge team steadily building out the platform’s play-to-earn metaverse, TAMA really looks like it has a strong chance of rivalling established meme tokens such as Shiba Inu and Dogecoin.
Tamadoge Price Up 700% in 1 Week
TAMA gained a spot on price aggregators such as CoinGecko and CoinMarketCap only a week or so ago, and according to the former, its price has ballooned by 672% since it hit a relative low point of $0.01937309 some five days ago.
Promisingly for latecomers, TAMA’s chart shows that it has begun rebounding already after it dipped in response to reaching an all-time high of $0.194446 yesterday. Its relative strength index (purple) plunged to 30 after earlier investors took profits, yet it has begun to rise again to 50, with its longer term momentum picking it back up quickly again.
As an indication of just how strong this momentum is, it’s worth pointing out that its ATH of $0.194446 represents an 1,844% increase over TAMA’s cheapest presale price of $0.01. Pretty much no other coin in the market can lay claim to such a substantial movement.
As noted above, TAMA’s listing on OKX’s centralized exchange was the major factor in its rise, as well as the additional listing on OKX’s DEX (which supports worldwide traders). However, it will also be marking two new CEX listings today, on MEXC Global (at 13:00 UTC) and on LBANK Exchange (at 11:00 UTC).
In addition, it has applied for a listing on Binance, something which has already boosted its price, and would likely boost it massively if the application were successful. There’s no sign as of yet as to how this application is progressing, but Binance already hosting a how-to-buy TAMA page on its website, it’s more than conceivable that it ends up being successful.
The Next Shiba Inu?
More fundamentally, a big part of the reason why TAMA has done so well in the past few weeks is that it has strong fundamentals. While it is nominally a meme token, it’s also a metaverse and play-to-earn gaming platform.
Tamadoge recently launched a collection of 100 of its NFT-based pets, with more coming in the future. More importantly, its developers are at work building out not only its metaverse, but a selection of arcade-style games that will populate this metaverse.
Within the Tamadoge platform, users will be able to breed, train, battle and sell their NFT-based Tamadoges. This will provide them with the opportunity to earn supplementary income from their gaming, in addition to simply having fun.
Tamadoge’s ecosystem arguably puts it in the same league as leading meme token Shiba Inu, which is also planning its own metaverse. However, with TAMA starting from a low base and having more exchange listings to come, it remains highly plausible to suggest that it has more gains — and more substantial gains — in its future than SHIB.
Of course, only time will tell. But for now, it remains a fact that TAMA has risen by almost 700% in just under a week.
Anyone interested in hearing more about TAMA’s OKX listing can join the planned OKX AMA with Carl Dawkins (Head of Growth for Tamadoge) at 8am UTC on October 14.
