Tamadoge Voted Strongest NFT Community Online – TAMA to the Moon?
Earlier this week, according to crypto analytics-focused Twitter profile GenX Analytics, up-and-coming utility-focused dog meme-inspired cryptocurrency Tamadoge ranked as having one of the strongest communities, based on engagement data from DEXTools.
That shouldn’t come as too much of a surprise. Tamadoge is known for having amongst the most dedicated base of core supporters in the cryptocurrency space (known as the Tamadoge army), with 72.6K Twitter followers, nearly 50,000 Telegram channel members, over 21,500 Discord channel members and nearly 7,000 subscribers to its YouTube channel.
What Is Tamadoge?
Tamadoge (TAMA) is the cryptocurrency token at the center of the soon-to-be-released Tamaverse – a web3 ecosystem within which users can create, breed, and nurture digital dogs called Tamadoge pets. Tamadoge pet owners accrue Dogepoints for their efforts, and the users with the most Dogepoints at the end of each month can claim winnings from the monthly Dogepool.
Owners of Tamadoge pets will also be able to use their dogs (which are non-fungible tokens) to play games and compete against each other for prizes in the soon-to-be-release Tamadoge Arcade, which will be another key part of the Tamaverse ecosystem. Users will be able to choose between which of their pet Tamadoge NFTs they want to use in each game.
The Tamadoge team warns that users need to “choose carefully” when selecting which of their Tamadoge non-fungible tokens to use in each game. Thats because “different (Tamadoge NFT) stat(istic)s affect different abilities in game, so some NFTs will be better suited to certain games”. Tamadoge Arcade is expected to be released in Q3 2023, according to the Tamadoge whitepaper.
Tamadoge pet owners will use the TAMA token to buy things from the Tamaverse store, be that buying food, toys, or accessories for their digital pets. 5% of these TAMA tokens will be burnt, ensuring the token is deflationary in the long run. 30% will go to Tamadoge’s marketing and development fund. 65% will go to the Dogepool and be distributed to the players with the most Dogepoints at the end of each month.
TAMA to the Moon?
Amid the ongoing cryptocurrency bear market that has seen even the likes of blue-chip cryptocurrencies such as bitcoin and ethereum fall substantially since October, TAMA is down on its initial listing price. TAMA/USDT was last changing hands around $0.14 per token, down more than 50% from the early November highs.
But investors should fear not. Tamadoge shows every sign of becoming one of the top dog meme-inspired cryptocurrency projects of 2023. That could launch its TAMA token into the stratosphere. Why?
Unlike Dogecoin and Shiba Inu, both notorious for their lack of utility, TAMA is tied to a promising play-to/and-earn crypto gaming ecosystem that could explode in popularity. Analysts expect gaming experiences like raising Tamadoge pets and playing in the Tamadoge Arcade to appeal to a wide range of users well beyond the usual crypto crowd.
The launch of the Tamaverse and Tamadoge Arcade in 2023 will be massive moment for the project. For the first time, Tamadoge will start attracting a non-crypto native audience who just want to play – for now, most interest in the project is from the crypto investment community.
Assuming an improvement in broader macroeconomic conditions in 2023 facilitates a broader crypto market recovery, promising projects like Tamadoge could see the value of their tokens surge. At current prices, Tamadoge has a market capitalization of around $20 million. At present, utility-lacking Dogecoin has a market cap of around $10.7 billion.
Can TAMA make it $1.0?
TAMA at $1.0 per token would imply a market cap of a little under $1.5 billion. That’s just 13% of Dogecoin’s current market capitalization. If the Tamaverse and Tamadoge Arcade gaming experiences catch on in a big way, it’s not unreasonable to think that Tamadoge can post the 71x gains needed to hit $1.0.