Shiba losing steam

One of the top performing assets of the last bull market was Shiba Inu (SHIB), which rode the wave of puppy-themed meme coins to become one of the largest cryptos in the world by market capitalization.

However, while Shiba Inu earned earlier investors millions and reached the crypto top 10, it has been losing steam recently and is down 67% in 2022 and 86% from its all-time high – causing many investors to look for other opportunities.

Shiba Inu is losing steam

Over the past 30 days, the price of SHIB has fallen by 25%, and many analysts are starting to grow concerned that the project has simply grown to such a large size that the hype required for another big pump is no longer achievable.

SHIB has long marketed itself as a ‘Doge Killer’, a rival to Dogecoin, with its USP that being an ERC20 token on Ethereum gives it a great deal of security inherited from Ethereum – whereas Dogecoin’s security is largely dependent on its own Proof- of-Work (PoW) network.

Billionaire Elon Musk has announced that Tesla is now selling special whistles on their website in the shape of a cyber truck, and that if people wish to purchase them they must spend Dogecoin.

This has been a huge boost for DOGE, since it was suspected in the past that Elon’s “environmental concerns” may prevent him from adopting a PoW-based currency such as Bitcoin or Dogecoin.

However, now that Dogecoin is clearly being used as a currency to purchase items from one of the largest companies in the world, the currency has more validity than ever.

Tamadoge may provide higher returns

Tamadoge, on the other hand, has the potential to provide far superior returns given the relatively small size of its market cap and early stages of its journey.

Currently, Tamadoge is in the final stages of its presale having already raised more than $17 million – the ICO is in its final stage with less than 10% of presale allocated tokens still available.

As a much smaller project, Tamadoge has the potential to grow much further. Not only is its value derived from that of a friendly community who like puppies, but the Play-to-Earn elements of the Tamadoge ecosystem mean that it can also attract a different type of user.

SHIB’s value had very little to do with gaming and was far more focused on speculation.  Whilst it is true that people will speculate on Tamadoge in the same way, it is also true that there are sources of demand and utility that Shiba Inu and Dogecoin simply don’t have.

The Tamaverse is a tailored metaverse within which Tamadoge holders, and holders of Tamadoge avatar pet NFTs, can interact with one another to earn from their participation in the game. Such mechanics are greatly pleasing to the community, who can profit from the ecosystem in more ways than one.

One way that the Tamadoge community has already vowed to give back to its community is via the $100k prize draw in TAMA, while later in the roadmap the 3D pets will develop augmented reality capabilities, allowing holders to take them out into the real world to explore and hunt.

Relevant news:

Will Tamadoge 100x? Join Initial Exchange Offering on OKX

Our Rating

Tamadoge
  • '10x - 50x Potential' - CNBC Report
  • Deflationary, Low Supply - 2 Billion
  • Move to Earn, Metaverse Integration on Roadmap
  • NFT Doge Pets - Potential for Mass Adoption
  • Upcoming Listing on OKX - Sept 27th
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