Tamadog rate rises – Can the currency return to all-time highs?

Disclaimer: The Industry Talk section contains insights from players in the crypto industry and is not part of Cryptonews.com’s editorial content.

Tamadoge (TAMA) is on the verge of a breakout in the coming days as it is already in recovery today. This looks like a good chance to buy the coin.

At the time of writing, Tamadoge is trading at around $0.042, well below its record high of around $0.19, but up around 22% in the last 24 hours.

Amid a series of events over the next few days, it looks like TAMA is about to embark on a significant price increase.

The ultra rare Tamadoge NFTs are now for sale

Despite Tamadoge being a meme coin project, its creators promised from the start that it would add more features to the coin than the other coins in the meme category.

They have already started that. The first set of 100 ultra-rare Tamadoge animals is currently being sold through an auction on OpenSea. The auction ends on Thursday 13 October at 4 p.m.

From 1 ETH, Tamadoge #1 has already received the highest bid at this point. A bid of around 2.52 ETH is currently the highest bid, but it is expected to be outbid when the auction ends. Right now, the price of Tamadoge #1 is 252% above the price it started at.

The ultra-rare animals will improve players’ stats in the Tamadoge game, a play-to-earn (P2E) game in the style of the old Tamagotchi, where players have to take care of their animals.

As these animals grow into full-grown animals, players can play against other owners to move up the Tamadoge leaderboard after each victory. The higher a player gets in the Tamadoge rankings, the bigger prizes he or she can win.

In addition, the game has a direct impact on the price of TAMA, as it has a mechanism where you burn off coins in the shop to be able to buy things for your animals.

Things that you can buy for your animals, such as candy, toys and food, are bought with the TAMA coin, where 5% of the total transaction is burned. This has a deflationary effect on the coin. Deflation, the opposite of inflation, causes currency to increase in value because there are fewer of them in circulation.

Other parts of the Tamadoge plan show that it will introduce more Play-to-Earn minigames to the Tamaverse in the future. In addition, an augmented reality app is also being developed. It is expected to be released in the fourth quarter of 2023.

When the augmented reality app comes out, players will be able to take the animals outside and explore them in real life.

Rumor has it that the developers of Tamadoge will make an announcement this week about the development of the games. Additionally, it has not yet been revealed when the remaining 21,000 NFT animals, including 1,000 rare and 20,000 common NFTs, will go on sale.

The number of people with TAMA continues to rise

While TAMA’s price has appeared to have stabilized in recent days, there are solid indicators that are bullish on the coin.

TAMA is currently the third most traded coin by volume, led by Dogecoin and Shiba Inu. In the last 24 hours, around $13 million worth of Tamadoge coins have been traded.

According to CryptoInsights, TAMA is still among the most popular meme coins on social media.

RichQUACK leads this list and has seen a 24% increase in the last 24 hours. However, the traded volume of RichQUACK coins is much lower than the traded volume of Tamadoge coins.

This would be an indication that TAMA is heavily traded and scalped, which could hold back a breakout.

Another indicator of a bullish scenario is that, despite the stable price in recent days, the number of owners of Tamadoge has increased sharply in the last 24 hours, according to data on Etherscan. The last 24 hours price increase seems to confirm this.

This suggests that there are investors trying to scalp or take their profits, but the majority of investors in Tamadoge are holding their position. They remain bullish on their position and hold on to the long-term potential.

In addition, Tamadoge has completed and submitted the application for a listing on Binance. In case the coin is listed on Binance, the price of Tamadoge will see a big increase.

Price Prediction: Tamadoge at €1?

Although the $1 price point still seems a long way off, Tamadoge’s chances of hitting this price point are much higher than with Tamadoge’s larger rival coins.

Tamadoge has a coin supply that pales in comparison to the coin supplies of Dogecoin, Shiba Inu and RichQUACK. Tamadoge only has 2 billion coins in circulation, compared to the 130 billion Dogecoins currently in circulation, a number that will continue to grow at Dogecoin.

At Dogecoin, getting the meme coin to €1 requires a much larger investment. While a market value of €2 billion is sufficient for TAMA to achieve a unit price of €1, DOGE must reach a market value of €130bn.

In addition, TAMA also has the advantage that the number of coins in circulation is not only smaller, but also shrinking. This is due to the previously mentioned principle that 5% of the tokens used in the Tamadoge store are burned and therefore removed from circulation.

Both SHIB and QUACK handle hyperdeflation. Still, it doesn’t matter much considering the initial amount of coins is huge compared to TAMA.

Shiba Inu currently has a total of 550 trillion coins in circulation. This number is about 275,000 times greater than the number of coins TAMA has in circulation. QUACK, on ​​the other hand, has a greater burn rate of no less than 50%, but the chance of this coin coming close to TAMA in terms of the amount of coins in circulation is small. This is because QUACK has a whopping 100 quadrillion coins in circulation. So that’s 100,000,000,000,000,000 coins. A huge number.

Is The Green Crypto IMPT a good alternative?

For those looking for a crypto coin with a green purpose, there is the IMPT coin. This coin on the Impact Project platform serves several purposes. It can, for example, be used to make purchases in stores with which the platform has a partnership. In that case, part of the profit goes to a green initiative.

It can also be converted into CO2 credit. You can then have this removed from circulation. With this, you remove CO2 from the circulation by means of a ‘combustion’, so that it can no longer be used by others. This makes the world a little better.

IMPT is currently on pre-sale and will increase in price after completion of the first phase. So be there in time and buy IMPT at the first phase price of €0.018 per coin.



Leave a Comment