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Tamadoge (TAMA) – the play-to-earn Dogecoin spinoff launched in September 2022 – is soaring this week after news broke that the memecoin would soon list on a top 5 cryptocurrency exchange.
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Data from CoinGecko shows that on April 14 , the coin rocketed from $0.011 to $0.015. The token experienced another massive surge on Tuesday, moving from $0.015 to over $0.02, before pulling back to $0.018 on Wednesday.
The official Tamadoge Twitter page announced the news last Friday, claiming that it would soon be listed on a “tier 1 crypto exchange.” The account prompted followers to guess between Binance, Coinbase, Kraken, and Bybit for which exchange had allowed the listing – but is yet to specify which it truly is.
On Wednesday, the account followed up with another announcement that TAMA would list across “multiple” tier 1 exchanges, and that one such exchange would be revealed on April 24.
Whichever exchanges they may be, the news certainly has implications for TAMA’s price. What can we expect the newly launched memecoin – and how will it fare against its competitors?
Let’s have a look at Tamadoge vs the various other Doge-themed meme cryptocurrencies, and see which is likely to fare best for memecoin traders in the short term.
Tamadoge Price Prediction
In the short term, Tamadoge likely has the best odds of generating profits among the memecoins. Shiba Inu is currently on a downtrend, while ArbDogeAI’s post airdrop hype is likely to wear off, and has not yet proven that it has any longevity.
TAMA holders, by contrast, have good reason to believe the token will soon rally after its tier-1 exchange listing is announced next week. A study by Ren & HeinrichN shows that newly listed tokens are known to experience price pumps – especially on Binance.
While prospects also look good for Dogecoin, the crypto’s relatively large marketcap leaves less room for exponential gains compared to small-cap coins like TAMA.
TAMA’s latest gains also represent a reversal of downside momentum its experienced for two months straight, returning to highs it hasn’t seen since February. This is a healthy sign that TAMA is due for some bullish gains.
Finally, Tamadoge has man utilities that other memecoins do not – particularly around its play-to-earn experience. The token acts as a gateway into the Tamaverse where players can mint and breed NFT pets in the metaverse.
The game already has 22,000 monthly active players, making the upside potential for its native TAMA token difficult to underestimate.
Dogecoin fell by 4% down to $0.089 on Wednesday amid a broader crypto market pullback, which saw neighboring coins like Polygon and Cardano fall by similar amounts. DOGE remains the 8th largest cryptocurrency by market cap at $12.3 billion.
Dogecoin’s short term movements are often influenced by the tweets and announcements of Elon Musk, one of Dogecoin’s loudest proponents in the industry. His support was largely responsible for sending DOGE to its all-time high above $0.70 in May 2021.
Dogecoin’s price spiked again by more than 15% earlier this month when Elon Musk briefly changed Twitter’s logo to a picture of a Shiba Inu. This proves that Musk’s influence still holds strong today – which may again prove true later this week.
This Thursday is April 20 (4/20), otherwise commemorated by the Dogecoin community as “Doge Day.” The celebration was popularized in April 2021 as a way of further catalyzing gains for Dogecoin during a time of extreme bullish fervor.
Meanwhile, Elon Musk recently delayed the scheduled launch of his SpaceX Starship rocket to April 20. Many in the Dogecoin community are already interpreting the move as a deliberate memetic gesture – which wouldn’t be out of character for Elon.
If the launch takes place as scheduled on Doge Day, the community may be expected to rally by pumping Dogecoin’s price.
Shiba Inu Analysis
“Dogecoin-killer” Shiba Inu (SHIB) hasn’t seen much success next to Dogecoin since briefly passing its predecessor in late 2021. Today, its market cap remains sequestered at $6.4 billion – little more than half of the original memecoin.
The coin neared $0.000012 on Sunday, but has fallen 8% since that time. What’s worse, on-chain analysis suggests that it could be in store for further declines in the near future.
According to blockchain data provider Santiment, SHIB’s 30-day MVRV ratio has recently risen into high-risk territory above 6.87%. That means most holders are sitting on 6.87% profits, and could be ready to take profit by dumping their holdings.
This would mark a repeat of when Shib’s price dumped after reaching a 7% MVRV level in mid February.
Furthermore, SHIB’s user growth has slowed considerably since last month. Santiment data shows that the coin logged 2,473 new addresses on March 1, but only 1,473 as of April 19.
If Shib loses its current price level, the token’s price could fall to $0.000009, where 343,000 addresses hold 150 trillion SHIB.
ArbDogeAI (AIDOGE) is a brand new meme token launched onMonday, and is already up 426% since that time, according to Binance data. The coin peaked at $0.000000000353650 on Tuesday, and now trades at $0.000000000236266.
The token was freely available to anyone who participated in the ARB airdrop for the Ethereum layer-2 scaling solution Arbitrum. The coin’s rally was part of a broader pump for other new meme tokens, including PEPE and WOJAK, the former of which is up 183% since Monday.
While the coin’s returns may appear exciting, it has not traded for long enough yet to establish whether it will maintain relevance. A Twitter account dedicated to AIDOGE claims it will be the most promising memecoin of the Arbitrum ecosystem, due to its roadmap which will include practical applications.
What is the Best Meme Coin to Buy Now?
Tamadoge has seen significant gains over the past week since its upcoming listing on a tier one exchange was announced. With the big reveal on the 24th and more listings in the pipeline, the Tamadoge price shows no sign of slowing down and TAMA therefore looks like the best meme coin to buy now.
DISCLAIMER: This is not to be taken as investment advice. Crypto is a volatile asset, do your own research before investing and only invest money you can afford to lose. We may receive commission for clicking links in this article.
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