Can This Sleeping Giant Memecoin Overtake Dogecoin and Shiba Inu?
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Dogecoin and Shiba Inu, two well-known meme coins, are on a tear, with over 123% and 25% gains in the last seven days, respectively. Simultaneously, Tamadoge, a meme coin that has been in the spotlight for some time now, has risen nearly 30% in the last seven days; can this sleeping giant meme coin overtake Dogecoin and Shiba Inu?
Let’s find out!
Dogecoin (DOGE) is Up 123%
Dogecoin’s current price is $0.13996, with a 24-hour trading volume of $7.7 million. Dogecoin has increased by over 11% in the previous 24 hours. CoinMarketCap now ranks #8 with a live market cap of $18.5.
An image of a Shiba Inu released by Musk revived the “Elon Musk Effect,” sending the price of Dogecoin shooting up by 12% almost instantly.
Dogecoin’s price rose last week as word spread of progress on the Twitter partnership. As a result, the value of the meme currency surpassed that of Cardano. Dogecoin has increased in value by 170% from October 22nd, with today’s top price of $0.1579 representing a 27-week high.
There have been whispers that Dogecoin will play a role in Musk’s ambitions for Twitter as he works to make his vision a reality.
According to Santiment, Elon Musk is pushing the boundaries of his power and undoubtedly having a blast with his new toy, Twitter. It has been a long time since one of his tweets caused DOGE to spike by 10–20% in a matter of minutes, but that moment has come once again.
👑🐶 #ElonMusk's recent #Twitter purchase coinciding with massive $DOGE volatility hasn't been a big surprise. But for those trading it, the challenging part is figuring out when this hype will die down. Read about address activity, sentiment, and more! https://t.co/vPVtjqUiNF pic.twitter.com/U80TA3pxp4— Santiment (@santimentfeed) November 1, 2022
This reaction, however, was expected, but the point of concern is the uncertainty about when this bullish rally will end.
Shiba Inu (SHIBA) Pumps 12%
The current Shiba Inu price is $0.000013, and the 24-hour trading volume is $958 million. Shiba Inu has increased by 4.57% in the last 24 hours. With a live market cap of $7 billion, CoinMarketCap currently ranks 13th. The circulating supply is 549,063,278,876,302 SHIB coins.
The value of Shiba Inu has risen dramatically over the past week, thanks in large part to the interest in meme coins. It’s likely that Elon Musk’s recent takeover of Twitter, amid rumors of a possible integration with Dogecoin, is responsible for the current uptick in the value of meme coins.
"Elon Musk recently took over Twitter in a $44 billion deal"— Crypto Adventure™ (@trustofficialEn) November 1, 2022
Users would have to subscribe to Twitter Blue at $4.99 a month or lose their "verified" badges if the project moves forward, according to the report #twitter #telsa #ElonMusk #cryptoart #cryptocurrencies pic.twitter.com/4KT1dUJ52P
The token’s popularity has skyrocketed thanks to the SHIB army’s unwavering support for the project and positive promotion of SHIB on various social media platforms.
Tamadoge (TAMA) Spikes Nearly 30%
Can we expect Tamadoge, the sleeping giant meme coin, to take the lead after Doegcoin and Shiba Inu have already made significant gains?
Tamadoge currently trades at $0.0319 with a 24-hour trading volume of $8 million. Tamadoge has increased by over 30% in the last seven days. CoinMarketCap currently ranks #2644, with a live market cap of not available.
More Tamadoge NFTs were released this week. It’s expected that the NFTs will be in high demand, just like previously issued collections.
With TAMA now listed on centralized exchanges, the Tamadoge team has kept up the platform’s pre-launch buzz. With this advertising campaign, it has also begun accepting NFT collections as part of its gaming environment.
In the first wave of Tamadoge’s NFT release, Ultra-Rare NFTs were introduced, giving the dogs they depict a boost in speed and strength.
📣 Attention #TamadogeArmy! 📣— TAMADOGE (@Tamadogecoin) October 24, 2022
Here We Go! 👀
🔥Our Collection Of 20,000 #Tamadoge Common #NFTs Are Now Live On @opensea🔥
GRAB YOUR VERY OWN TAMADOGE NFT NOW! 😍⬇️https://t.co/BQAKhtlmXB#nftcommunity #nftcollector #bestmemecoin #crypto pic.twitter.com/YS93od3oKY
The designers of the game have just released a compilation of Common NFTs. These tokens are less rare than the Ultra-Rare or Rare NFTs and hence lack those tokens’ unique qualities. Although the Common NFTs have diminished in value, they still have utility in the Tamadoge ecology. This set includes 20,000 tokens with a minimum price of 0.2 ETH each.
Tamadoge Price Prediction
Because Tamadoge has already bottomed, it may bounce off the 0.020 support level and continue to trade bullish until the next resistance level of $0.045 or $ 0.060.
The recent candlestick pattern “Three White Soldiers” indicates the possibility of a bullish trend continuation, so keep an eye on Tamadoge in the coming days.