- Tamadoge price has more than doubled in the past few days.
- This rebound is in line with the performance of other meme coins.
Tamadoge price held steady on Tuesday as meme coins bounced back. TAMA soared to a high of $0.040, which was about 140% above the lowest level in October of this year. It has a market cap of over $1 billion, according to CoinMarketCap. Other meme coins like Safemoon, Dogecoin, and Shiba Inu have also jumped recently.
Is Tamadoge a good buy?
Tamadoge is a relatively new meme coin built on the BNB Smart Chain network. The coin is well-known for its fast-growing NFT ecosystem. The developers have unveiled and are pushing their rare, common, and ultra-rare NFT collections, which are doing well in OpenSea.
Tamadoge’s developers are working on an arcade game and a metaverse ecosystem known as the Tamaverse. TAMA. its native token, will be used to engage with the Tamaverse. Users will use it to pay for transactions, earn rewards, and buy special items on the pet store.
Tamadoge price has been in a strong bullish trend in the past few days as investors cheer the performance of other meme coins. This performance is due to the recent acquisition of Twitter by Elon Musk.
Musk, the richest person on earth, has been known to promote meme coins like Dogecoin in his social media platforms. Indeed, it is his Tweets in 2021 that helped to bring traction to the Dogecoin. After its success, more developers created several other meme coins like Shiba Inu, Dogelon Mars, Floki Inu, and Pinky Inu.
Investors believe that Elon Musk will be a good thing for meme coins, especially Dogecoin. For example, he could create a system in which DOGE is used as a medium of exchange or payment option in Twitter’s ecosystem. This explains why Dogecoin price has surged by more than 100% in the past few days. DOGE has a close correlation with other meme coins like Tamadoge.
Tamadoge price prediction
The hourly chart shows that the TAMA price has been in a strong bullish trend in the past few days. As it rose, it managed to move above the key resistance level at $0.027, which was the highest point on October 27.
Tamadoge has rallied above the 25-day and 50-day moving averages while the Relative Strength Index (RSI) has risen above the neutral point. Therefore, the path of the least resistance for Tamadoge is upwards, with the next key resistance level to watch being at $0.05.
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