Tamadoge (TAMA) appears to be capturing the attention of crypto investors with it up over 400% in the past seven days, as of 5 October.
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Its recent surge follows Tamadoge filing an application to Binance, regarding a potential listing. TAMA has already seen listings with major exchanges, including MEXC Global and OKX.
What is Tamadoge?
Tamadoge is a new play-to-earn (P2E) platform that is hoping to have running start in a saturated industry. Its whitepaper made the bold claim:
“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.”
The premise of the Tamadoge platform resembles a crypto version of the 1990s toy sensation Tamagotchi. Users are able to mint their own Tamadoge pet, breed them and battle against each other in a metaverse.
Investors will be competing to top the monthly leaderboard with their pets. It also has plans to expand into augmented reality (AR) experiences.
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The Tamadoge pets are represented as non-fungible tokens (NFTs), which are initially “minted as a baby”, each with their own unique strengths and weaknesses.
They NFT pets will then grow over time as users feed and interact with them. The Tamadoge whitepaper added:
“Once your Tamadoge pet grows into an adult, its able to battle other players pets in order to become top Doge on the Tamadoge leaderboard, using the turn based Tamadoge battling arena.”
All about the TAMA token
Investors will also receive rewards in the form of TAMA and can spend it virtually in the ‘Tamadoge pet store’.
There will be a maximum supply of two billion TAMA – half of which has already been sold in its presale period. Of the remaining TAMA, 20% is set aside for centralised exchanges and decentralised exchanges (DEXs), and the final 30% will be gradually unlocked over the next ten years.
However, TAMA’s CoinMarketCap page has warned:
“According to Gopluslabs, the contract may contain additional issuance functions, which could maybe generate a large number of tokens. Please exercise caution before taking any action and [do your own research] DYOR.”
TAMA’s price history
It is important to remember that at the time of writing on 5 October, tamadoge had only been trading for a short period of time.
TAMA was first introduced to investors through a presale event that lasted from August to September 2022, which sold out.
Its token then entered the market on 27 September and opened at a little over $0.02. After a slight dip to TAMA’s all-time low of $0.019 on 30 September, the Ethereum (ETH) based token saw a steady climb.
TAMA’s all-time performance
This was also down to listings on high profile exchanges, including Bitmart and OKX.
Then, on 4 October, Tamadoge filed an application to be listed on the Binance exchange. It rocketed to its all-time high of $0.19 the same day.
The following day it was listed on both the MEXC Global and LBANK crypto exchanges.
As of 5 October, it was trading at $0.12, up a staggering 417% in the past week and 506% over the past 30 days.
Tamadoge price prediction round-up
At the time of writing, the youthful nature of the cryptocurrency means there are not many making a TAMA price prediction. However, some of those that have made forecastsare optimistic.
CoinCodex said there was bullish sentiment around the coin. The tamadoge crypto price prediction used eight technical indicators, all of which were displaying “buy”.
The site’s tamadoge price prediction for 2022 suggested it could have rocketed by 289% to $0.48 on 13 October.
Meanwhile, longer-term forecasts have anticipated this upward trajectory could continue over the coming years. PricePrediction suggested it could have achieved an average price of $0.14 this year and $0.46 in 2025. Its tamadoge price prediction for 2030 estimated it could have reached a maximum price of $3.48.
Similarly, DigitalCoinPrice said TAMA could have averaged out at $0.13 this year. Its tamadoge price prediction for 2025 outlined that it could have grown to $0.50 and could have gone to have achieved $1.73 next decade.
When considering a tamadoge coin price prediction, it’s important to keep in mind that cryptocurrency markets remain extremely volatile, making it difficult to accurately predict what a coin or token’s price will be in a few hours, and even harder to give long-term estimates. As such, analysts and algorithm-based forecasters can and do get their predictions wrong.
If you are considering investing in cryptocurrency tokens, we recommend that you always do your own research. Look at the latest market trends, news, technical and fundamental analysis, and expert opinion before making any investment decision. Keep in mind that past performance is no guarantee of future returns. And never trade with money that you cannot afford to lose.
Is tamadoge a good investment?
Tamadoge is a meme token, which is used in a play-to-earn ecosystem. TAMA has recently been surging after listing announcements. But this upward trajectory is not guaranteed to continue.
In volatile cryptocurrency markets, it is important to do your own research on a coin or token to determine if it is a good fit for your investment portfolio. Whether the TAMA token is a suitable investment for you depends on your risk tolerance and how much you intend to invest, among other factors. Keep in mind that past performance is no guarantee of future returns. And never invest money that you cannot afford to lose.
Will tamadoge go up or down?
CoinCodex said there was bullish sentiment, which matched the optimistic long-term forecasts from DigitalCoinPrice and PricePrediction. But price predictions are often wrong.
In volatile cryptocurrency markets, it is important to do your own research on a coin or token to determine if it is a good fit for your investment portfolio. Whether the tamadoge token is a suitable investment for you depends on your risk tolerance and how much you intend to invest, among other factors. Keep in mind that past performance is no guarantee of future returns. And never invest money that you cannot afford to lose.
Should I invest in tamadoge?
Whether you should invest in TAMA is a question that you will have to answer for yourself. Before you do so, however, you will need to conduct your own research and never invest more money than you can afford to lose because prices can go down as well as up.