The Tamadoge project and its TAMA token appear to be taking the crypto market by storm, with the popular meme coin making significant headway in terms of exposure and capital inflow. The TAMA token was only just listed on the OKX exchange, shortly followed by a listing on Binance, which has led to the token becoming one of the hottest assets on platforms like CoinMarketCap.
Just 5 days after launch, TAMA became a trending token on CoinMarketCap alongside the likes of the much more well-known Terra Classic (LUNC). The project and what it is offering have proven to be a hit among investors, with the token reaching a fully diluted market cap of nearly $145 million in just a few days.
The project’s rapid rise to recognition has become all the more noticeable given that meme coins have not experienced the most successful of years in 2022. The crypto bear market has hit all tokens hard, and the special appeal of meme coins has not protected them from the downturn – with TAMA being a unique exception.
Why is Tamadoge So Popular?
Tamadoge was only listed as recently as Sept. 27 on OKX, but this short time did not stop a large swathe of investors from wanting to get in on the token. There is strong hype backing the project, which is something that meme coins are known for especially. This has helped pushed the 24-hour trading volumes to high figures, and as such, it has secured a place in trending tokens on CoinMarketCap alongside the likes of the Terra Classic token.
— TAMADOGE (@Tamadogecoin) September 30, 2022
Tamadoge’s popularity is likely down to the wide variety of features it offers, many of them related to the Play-to-Earn experience. Until now, meme coins have largely been that – memes. But TAMA is attempting to create a meme coin experience that offers several utilities to users, allowing them to earn from their holdings.
The project is also set to launch the Tamadoge NFT collection this week, which offers those interested in the project another way to generate revenue. The collection will have a total of 21,100 NFTs of three different rarities: ultra-rare, rare, and common. These NFTs will have their unique traits and abilities, such as speed, agility, and awareness. This will impact the Tamadoge battle experience in the Tamaverse, and it’s easy to see how it can generate constant engagement with holders.
The team has also outlined a fairly long list of updates and new features for the project in the months to come, which give holders more incentive to participate in the ecosystem. Among these is the Tamadoge Arcade, which is another Play-to-Earn stream for users who love retro experiences. There will also be a leaderboard where users can claim their TAMA rewards for participating in various activities, like Tamadoge battles.
The team also plans to turn the Tamaverse into a robust metaverse experience, bolstered by partnerships that will shape how it plays out. This is creating a buzz because Tamadoge is turning into a meme coin project that is actively building a space where the meme coin experience constantly evolves.
Meme Coins May Experience a Revival Thanks to TAMA
Tamadoge’s quick rise over the past few days has proven that there is still a desire for meme coins in the market, especially when we consider that TAMA is trending on CoinMarketCap;
— TAMADOGE (@Tamadogecoin) October 4, 2022
What’s especially noticeable is the fact that investors are keen on making use of the platform’s various metaverse and Play-to-Earn features, which may be an indication of what the future of meme coins is.
It is worth bearing in mind that Tamadoge’s effect on the market has only just started, but nonetheless, it could have a significant impact on how the meme coin space evolves. 2022 has not been kind to meme coins, but TAMA may inject the niche with the vigor it needs.