Shiba Inu Price Falls 1% While This New Meme Coin Is Up 100% in 24 Hours
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Shiba Inu (SHIB) has witnessed a downtrend of 1% in the last week. However, while SHIB maintains a bearish streak, a new meme coin is pulling impressive numbers.
Shiba Inu Price Action
SHIB, the second-best meme coin by market capitalization, is currently trading at $0.00001107. The crypto asset has witnessed a downtrend of 0.18% in the past 24 hours. Its price is also down by 0.5% in the past week, in correlation with the broader market.
SHIB’s technicals also indicate a strong bearish streak. SHIB trades below all of its moving average (MA) indicators. Its 10-day MA stands at $0.00001112. Meanwhile, its moving average convergence divergence (MACD) is negative, exhibiting a sell signal.
However, with a relative strength index (RSI) of 44.57, SHIB looks underbought at the moment.
TAMA: 100% Gains Is Just the Start
While SHIB investors expect the asset to flip bullish, one meme coin is already on a massive bull run.
TAMA has been one of the best-performing coins of the past week.
TAMA was launched on the OKX exchange last Monday, and the asset has jumped by over 200% since then. TAMA’s price, which was listed at $0.03, currently trades at $0.0738. The crypto asset’s data page on OKX also indicates a trading volume of $9.79 million in the past 24 hours.
TAMA has also continued to draw interest from investors, as seen by its inclusion in a list of the top trending cryptos in the market.
And there are still several factors that could encourage a bull run for TAMA. Currently, the asset’s developers are working on expanding its investor base, with listings on two exchanges expected to come on October 5.
According to their Twitter page, Tamadoge’s developers are set to list TAMA on MEXC and LBank. Both are two of the largest centralized exchanges in the market, with a combined user base of nearly 20 million people across over 200 countries.
Once TAMA lists on MEXC and LBank, demand for the asset might surge, further bolstering the coin’s price.
Tamadoge Launch Coming Soon
Besides the exchange listings, TAMA investors are also gearing up for Tamadoge’s full launch. The platform will allow players to purchase non-fungible tokens (NFTs) representing digital pets, which they can raise and use to battle those of other players. Winners will be rewarded with TAMA tokens.
The Tamadoge launch is expected to provide an official use case to TAMA. Players would be able to use the coin to purchase Tamadoge NFTs, stake it, and obtain voting power on the Tamadoge platform.
Tamadoge’s developers have announced that the full platform will launch before the end of the year. With this, TAMA’s price could pump massively.