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Tamadoge (TAMA) will be listed on the OKX exchange on September 27 at 11:00 UTC and aims to combine the investor appeal of meme coins like SHIB and DOGE with P2E play, which includes metaverse and move-to-win mechanics. The best list of new episodes to watch this week?
The new TAMA crypto is the in-game currency and reward token of the fighting app Tamadoge, used to create virtual pets that are tokenized as NFTs and earned by players in its ecosystem. This week, Capital.com reviewed the Tamadoge project – another indicator that its initial exchange offering (IEO) may be performing well.
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Tamadoge raised 19 million USDT in its token presale in less than two months, from July 25 to September 18, attracting a high level of investor interest despite the downward trend in crypto prices – Bitcoin and Ethereum is still trading below $20,000 and $1,500 this week.
This strong demand surpassed most crypto presales, private sales or initial coin offerings (ICOs) in 2021 or 2022 – for example, the STEPN (GMT) token sale brought in only 9.2 million, which included of crypto-VC investments such as Binance Labs, Alameda Research, Sequoia Capital and other big names.
CNBC’s coverage of the 15 million USDT point may have also helped push the funding for the new crypto token’s seed round to the finish line a month ahead of Tamadoge’s roadmap. Yahoo Finance also promoted TAMA right from its beta sale.
In crypto media, Tamadoge made headlines on BeInCrypto, Bitcoinist, NewsBTC, The Cryptonomist, ZyCrypto and others – TAMA combines the most popular cryptocurrency sector as a game to earn crypto assets, a coin and own a metaverse that will come and go in earning features.
GMT at its peak reached a live market cap of $2.5 billion – reaching $4.18 with a circulating supply of 600 million (10% of its total supply, 6 billion). Its ICO price was $0.64 and its bull run occurred while the price of Bitcoin was in a downtrend – early March to late April 2022.
Tamadoge will launch with a circulating supply of 1 billion (50% of its total supply of 2 billion), at a list price of $0.03 – an initial market cap of $30 million. Reaching the same market cap as STEPN reached eight weeks after launch would mean a TAMA price target of $2.50, an 83.3x gain.
Today, since its correction, GMT has a market cap of just over $380 million – which TAMA will correct at $0.38 per token, a 12.6x gain from its listing.
Unlike GMT, TAMA is deflationary with a built-in token burn on Tamadoge store transactions – when players upgrade their Tamadoge NFT pets with accessories or buy dog food. Having a higher percentage of its token supply unlocked in its IEO could also help support the price.
Tamadoge also doesn’t have an expensive barrier to entry like STEPN – in its M2E crypto game, players have to buy NFT sneakers. GMT’s explosive bull cycle occurred at a time when NFT sneakers had a floor price of around 12 Solana (SOL) – a testament to the popularity of apps that pay users in crypto.
Next Shiba Inu
Shiba Inu first fell after its Binance listing (May 2021, and its Coinbase listing in January) and hit a low of 0.00000510 USDT four months later in September
It then exploded 17.3x to 0.00008854, mostly based on hype and FOMO – it has since broken through most of its bull runs, now trading slightly above 0.00001. At press time, Shiba Inu’s price is up, but its market structure is still bearish – posting lower highs and lower lows.
Even after its nearly 90% correction from above, Shiba Inu has a market capitalization of $6.4 billion today and a fully diluted valuation (FDV) of over $7 billion. All have little use or incentive to hold SHIB.
Tamadoge could potentially be the next cryptocurrency to break out of the Doge aesthetic and its more concrete use case, as the native currency of a game to win a crypto game – something Shiba Inu is starting to explore with the recent launch of its game Shiba Eternity P2E.
Dogecoin price is up 10% today – but at the time of writing, its $0.06-$0.07 price range is roughly a 92% retracement from its historic high of $0.74 hit in May 2021 before Elon Musk’s exit on Saturday Night Live.
Since its launch, the total supply of Dogecoin has grown from 100 billion to almost 133 billion – DOGE is an inflationary asset with infinite supply (no maximum supply). This aspect of its tokenomics has been instrumental in its correction over the past 17 months.
Terra Classic (LUC) which has dominated crypto news headlines in recent weeks for being a deflationary asset – LUNC Burn is in the news again this week, covered on the Binance blog – will raise awareness for many investors in the fact that deflationary cryptocurrency the coins are a better investment.
One would also expect Tamadoge to perform well after its initial stock market listing, given its deflationary tokenomics.
Best new crypto listing on OKX
Tamadoge having its IEO on OKX – with more crypto exchange listings to follow – is another potential upside catalyst for TAMA to become the best new cryptocurrency to invest in.
OKX has an exchange score of 6.1 on CoinMarketCap and a green rating – which CMC assigns only to the top 21 crypto exchanges.
The score of this exchange platform is based on various metrics, including the reliability and security of an exchange, its daily trading volume ($1.6 billion in the last 24 hours for OKX) , and the number of cryptocurrencies listed.
Other big names like Bitmex, Delta Exchange, Phemex, Bittrex, Poloniex, and Bitmart have lower scores and orange ratings on CMC.
The above video posted on the Tamadoge YouTube channel explains how to buy Tamadoge when it’s listed – OKX also has a separate DEX for those who can’t use its CEX.
Tamadoge will also have its initial DEX (IDO) offering on OKX on the same day six hours after the CEX listing (11:00 UTC) at 17:00 UTC.
In addition to Tamadoge possibly being the best new coin list this month, new OKX signups have a chance to win a mystery box worth $10,000.