TAMA token price defies market slump ahead of another exchange debut

4 October 2022

in DOGE

Reading Time: 4 mins read

The recent percentage increases in bitcoin pales in comparison to tamadoge – Photo: Getty Images

Tamadoge (TAMA), the deflationary play-to-earn (P2E) metaverse meme coin, has almost doubled in price in the past 24 hours.

As of earlier on 4 October 2022, TAMA was up by 99%, according to CoinMarketCap, and over the past week the meme coin had surged by 581% from $0.02182 to $0.1486.

The price increase is partly being attributed to TAMA being listed on crypto exchanges, such as OKX and BitMart. Additionally, the Tamadoge Telegram Group revealed that it had filed an application to be listed on Binance, the world’s largest cryptocurrency exchange by trading volume.

Following on from this, TAMA has been receiving attention from the crypto community on CoinMarketCap, which according to Tamadoge on Twitter had ranked it as one of four top trending crypto projects as of 4 October 2022.

In addition, independent cryptocurrency data aggregator CoinGecko had ranked TAMA as one of the top 10 daily gainers on 4 October.

Compared with other cryptos

The increase in lead crypto bitcoin (BTC) pales in comparison with TAMA over the same 24-hour period. As of earlier on 4 October, BTC was trading at $19,952, up by 3.71%, according to CoinMarketCap.

BTC to USD

Similarly, Ethereum (ETH) had only seen a 3.93% increase to $1,348 and cardano (ADA) was up by 2.14%.

Currently crypto is perceived to be in a bear market.

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What about the Elon Musk effect?

The official Tamadoge team has been raising questions if CEO of Tesla and SpaceX Elon Musk would be taking part in the meme crypto’s presale. Back in August, the crypto held a presale where 200 million tokens were sold in the beta sale phase, raising $2m (£1.76m).

The Tamadoge team said: “Persistent rumours to the effect that Elon Musk himself might be dabbling in the presale refuse to go away.

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“Whatever the truth of those claims, the metaverse narrative that informs the value differential of Tamadoge’s ecosystem – or Tamaverse – is likely helping the meme coin to gain traction with crypto investors.”

[crypto-donation-box]

Such rumours and the price increase in TAMA has been attract more people to Tamadoge’s channels. Its Twitter channel now has 73,700 followers when it was 45,000 in August. The meme coin’s Telegram group now has 57,320 members when it only had 25,000 in August.

The future of the Doge ecosystem and P2E

The Tamadoge website has said that the meme coin “isn’t just the future of the Doge ecosystem, it’s the future of P2E”.

It added: “Tamadoge is coming out the gate barking, becoming one of the biggest hyped meme coins of all time and pushing the boundaries of the play-to-earn space, in order to provide a game that people will be climbing over each other to use.

“Tamadoge is the gateway token of the Tamaverse – where you’ll be able to mint, breed and battle your own Tamadoge pet in the metaverse.”

Tamadoge has been described as a “game ecosystem built around the tamagotchi idea, but on blockchain, where you bring up your very own Tamadoge Pet and P2E in the process”.