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Meme coin prices are on a roll, with broad-based appreciation in values pushing the sector’s market cap to over $22 billion, thanks to weeks of gains for top sector coins. Shiba Inu (Shib), baby dog coin (Baby Doge), Bone Shibaswap (Bone) and Tamadoge (Tama).
What’s Behind Meme Coin Redux and Can the Bullish Sentiment Sustain?
The attraction of meme coins centers on their brand power. As interest in crypto begins to rise again, it should come as no surprise that the sector should start attracting buyers.
However, the first iteration of Meme Coins, which was built heavily around Dogecoin’s joke status and the pulling power of Elon Musk, has moved on.
These days investors are taking note that a small band of meme coins are starting to build real utility into their protocols, thereby separating themselves from the pack.
Market visibility that could crossover into the mainstream is a powerful value proposition – provided it is based on leveraging blockchain technology to deliver useful products with eventual cash flow.
Meme Coins offer profit opportunities of 10x or more, which makes them attractive altcoins.
Bitcoin has undoubtedly driven the market higher this year, in a revival that has taken some by surprise.
But, as is often the case, and has been seen in previous cycles following the advent of a bullish trend, investor interest begins to focus on better risk-reward opportunities, which lowers the market cap ranking. .
In other words, the potential for a 10x return in MemCoin is more realistic in the short to medium term than a rally in Bitcoin’s price over the next few months.
BON is up 32% to $1.78 in the last seven days alone; Babydog is up an incredible 82% to $0.000000002583, Shiba Inu is up 20% to $0.0000144, while Tamdog is up 50% to $0.02201.
interesting, dog coin Relatively backward. The top dog in the meme coin sector by market cap has added a relatively modest 4.7% over the past week to reach $0.0921. However, it rose steadily in January, showing a gain of 30%.
Underscoring the strength of the rally is an increase in trading volume, which is up 33% to $2.6 billion today, according to CoinMarketCap.
CoinGecko estimates the 24-hour trading volume for meme coins at well over $3.1 billion.
The rise in prices on the back of strong trading volumes is indicative of a strong foundation for continued price appreciation.
Where to find meme coins with best chances?
Where to look for 10x opportunities at what could be an inflection point for the meme coin sector, considering the still uncertain direction of the broader crypto market?
It probably makes sense to have a large cap meme coin, in which case the Shiba Inu stands out. Dogecoin is certainly the market leader, but expecting Elon Musk to contemplate a 10x profit increase in the near term is a stretch.
On the other hand, the Shiba Inu offers a better risk-reward ratio because of its efforts on the all-important side to utility that we’ve already identified.
On top of that, Shiba Eternity is the first game to use Shiba tokens. It is a free-to-play card game which includes earn money to play mechanics, the latter being where the Shiba Token finds its usefulness.
However, since its launch in the last quarter of 2022, no new games have been launched.
The protocol now also has a layer 2 called shiberium Which will increase the possibilities of the network as a whole.
For now we can say that the Shiba Inu has shown its intent, which is better than Dogecoin, where there has been a lot of talk about product development and use cases, but little real progress other than as a perceived means of exchange. Is.
so hopefully Doogee bashed by Musk on Twitter as ‘token of choice’And there’s no sign of the billionaire chasing his tune on it.
Tamadoge – a new breed of meme coins with P2E utility and a Web3 breakthrough
But this is the best opportunity in mid cap, and it is with new coins.
Tamadoge ticks all the boxes. It is a meme coin packed with utility and with a roadmap that pitches to the mass market like no other meme coin does.
And it does this by hitching a ride in the slipstream of Doge brand power. Only a few months old and TAMA Token has established itself as a top 10 meme coin.
More than that though, Tamadoge is proving its critics wrong by continuing to deliver on its roadmap impressively.
For example, last week skeptics were surprised when they John BishopFormerly of eBay, PayPal, Coda and major children’s game publisher Outright, Tamadoge joins as its CEO.
This is a big deal. Bishop was head of mobile at Outright, owner of the Peppa Pig and Bratz brands.
The new CEO’s experience in crypto includes his time as marketing director at top exchange Huobi Global.
Super Doge launch to be followed by second Arcade drop this week
Two weeks ago Tamadoge launched its first arcade game – Super Dog — and there are four more to come, the second of which, believed to be Rocket Doge or To the Moon, launched this week.
The arcade games are Super Mario-type games that casual gamers will enjoy. And unlike the old games, these games are played to earn, so players are rewarded with TAMA tokens for their skill.
However, as cool as they are, Tamadoge’s drive to become the arcade game’s No. 1 name isn’t the main event. Web3 Gaming,
tamadoge meme carrying coins metaverse — or should that be Tamaverse — when it launches its augmented reality-powered mobile app in Q3 2023.
In the flagship game, players nurture, breed and battle with their tamadog pet in a setting that takes the arcade game’s fun, skill-based gameplay to the next level.
Challenging Web3 gaming giant Animoca Brands
The promise of play-to-earn gaming has been hindered by products that lack engagement and instead rely on tedious activities that lack skill.
Not surprising, therefore, that some of the biggest games in the space struggle to gain serious traction. Yat Siu’s Animoca-backed sandbox has only 30,000 daily active users, according to a recent Financial Times report,
Tamadoge insiders say its first arcade game is on track to surpass The Sandbox in weeks, though, for now, the game is only playable on desktop.
To get started with arcade games, users can buy one of Three categories of NFT pets Common, rare and very rare.
Data shared with Cryptonews showed that in the two weeks of its game’s early beta testing, there were 3,583 unique plays — though that’s not the same as unique users, which equates to more than 10% of the sandbox’s active user base. Yes, achieved with Flicker Marketing.
TAMA price is the top meme coin performer in the last 24 hours, up 10% to $0.022
On the side of technical analysis, Tamadoge is showing great promise after an inspired launch that saw prices move parabolic, only to succumb to the travails of crypto winter.
But if you believe that the cream always rises to the top, and that things will go the same way in crypto, then the current TAMA price, which is down 88.6% from its all-time high of $0.19, is an excellent level for the dollar- Start cost averaging.
TAMA traded above $0.021 today, threatening a rally resistance to the $0.022 support. In fact. From a 24-hour price perspective, it is the best performing meme coin among the top flight of the sector.
There is every reason to believe that TAMA could scale higher again to cross its ATH.
Retrieving its ATH would result in an 800% gain for the coin at the current price.
TAMA trades on nearly a dozen crypto exchanges – you can Buy TAMA on top crypto exchange OKX,
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