While $PEPE Struggles to Attract Investors, Tamadoge is Gearing up for a Wave of Major CEX Listings
Weakening bullish momentum has been seen in Pepe (PEPE).
The Pepe the Frog-themed meme coin, which debuted less than two weeks ago, has been struggling to rise above the $0.00000041 all-time high it reached on Friday. The meme currency has fallen in value by almost 42% from its all-time high to its current price of $0.00000023.
Even after accounting for that, PEPE is still up over 180% from its open a week ago. According to DEX Tools, which relied on data from decentralized exchange Uniswap, the positive impetus is definitely dissipating, and trading volumes have consistently dropped over the previous several days.
Even more concerning is the fact that PEPE seems to be in a short-term slump, which could lead to the meme coin falling back below the $0.00000020 mark, thereby allowing for further losses.
Will Tamadoge Be in the Spotlight Amid Major Listings?
Tamadoge, a competing meme coin, has seen its popularity rise in recent days as interest in Pepe has waned.
With a current token price of roughly $0.024, TAMA is up around 100% month-over-month, and this may only be the beginning of a fresh bull run.
Two days from now, top five cryptocurrency exchange ByBit will begin trading in Tamadoge (TAMA), the cryptocurrency token that drives the gaming-focused Tamaverse web3 ecosystem based on Shiba Inus.
Tamadoge will be holding a Deposit to Earn TAMA giveaway in the lead-up to the listing.
It appears like ByBit is only the start of a string of top-5 cryptocurrency exchange listings that will follow the ByBit debut. On Tuesday, the Tamadoge team teased a potential listing on Binance, Coinbase, Kraken, or KuCoin on Twitter, telling investors to “stay tuned for more exciting updates.”
The future seems bright for TAMA, despite the fact that trading conditions are expected to remain volatile. With the cryptocurrency listed on additional major exchanges, Tamadoge will receive a free marketing boost and appeal to a larger pool of investors.
Meanwhile, “Tama Island” is getting more and more populated as the Tamadoge crew works tirelessly to improve its ecosystem. With their Tamadoge NFTs, users can now compete in five different Arcade games for the chance to win TAMA prizes.
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Over a 10-Fold Increase in Value for Tamadoge (TAMA)
TAMA’s technicals remain encouraging despite the latest sell-off. That’s because on Monday, the cryptocurrency token found sturdy buying support at its 200-day Moving Average, suggesting the bulls are still in command.
If TAMA can break out above the highs from late October, around $0.04, it will pave the way for a sustained move to the crypto token’s all-time highs around $0.20.
In such case, TAMA’s market valuation would increase to about $200 million, which is an increase of more than 8 times from present levels.
As long as developers keep making steady progress toward delivering on the vision and new players keep signing up for Tamadoge games, that valuation is not out of the question.
According to statistics compiled by DappRadar, Tamadoge has a larger user base than both Decentraland and The Sandbox put together.
Even if Tamadoge’s market worth doubles to $400 million, Dogecoin’s market cap of about $10.8 billion would make it less than 2% of Tamadoge’s. TAMA, in contrast to Dogecoin, fuels a fast expanding gaming web3 environment, leading many to believe it is much more useful.
Let’s pretend Tamadoge reached 5% of Dogecoin’s $10.8 billion market worth. A market cap that high would require a token price of about $0.5, based on the current supply of just over 1 billion tokens.
That’s a boost of over 20 times the present rate.
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