Shiba inu has followed the trend of most major large-cap coins after experiencing a significant price increase in the last 24 hours. While investors are thrilled, TAMA promises even bigger gains.
SHIB Price Action
As coins appear to be making a relief rally, SHIB has been one of the biggest beneficiaries, which is not surprising for a large-cap coin. At press time, SHIB trades at $0.000008994. The asset’s price is up by 8.82% in the past 24 hours, with SHIB mirroring the broader market’s gains.
As for whether its price should rise even higher, the technicals support it. SHIB is trading above its short-term moving average (MA) indicators, and its moving average convergence divergence (MACD) has also flipped positive. Thus, SHIB has the fundamentals for a short-term push at the very least, although this will also depend on the broader market’s performance.
SHIB Enters the Metaverse
In terms of fundamentals, Shytoshi Kusama, the asset’s developer, recently reported that they could work with companies like Facebook and Decentraland at the World Economic Forum (WEF) to develop global policy on the metaverse.
In a Twitter poll, Kusama said that the WEF had invited the Shiba inu project to collaborate on global metaverse policy. With blockchain and crypto being more prominent topics at the WEF recently and the Shiba inu project also working on its Shibaverse metaverse iteration, this seems plausible.
#ShibArmy I need a quick vote: We have been kindly invited to work with the WORLD ECONOMIC FORUM as it pertains to their MV global policy. Would love to know what you all think because it's not our decision, but yours.
— Shytoshi Kusama™ (@ShytoshiKusama) November 22, 2022
Most poll respondents appear excited about the prospect, especially considering that Shiba inu will now have a seat at the table discussing issues that could affect the future of global social interactions.
Focus on TAMA
While Shiba inu continues to push for higher gains, value-seeking investors would also want to consider TAMA.
TAMA is the native token for Tamadoge, a blockchain gaming platform set to launch soon. Tamadoge allows players to purchase non fungible tokens (NFTs) representing digital pets.
The players’ objective is to groom and use pets to battle other players. Winners will get rewarded with the platform’s TAMA token, which they can trade or use to purchase more pets and play the game.
TAMA has had one of the market’s most impressive presales. The digital asset raised $19 million in just eight weeks, selling out all tokens in its presale in near record time. Since then, the asset has also been listed on several top centralized exchanges, including MEXC, LBank, and Gate.io.
TAMA’s price mechanics recently drew a lot of eyeballs as the game’s developers confirmed that it wouldn’t be implementing a transaction tax in order to be deflationary. As they explained at the time, the primary utility for TAMA will come from the Tamadoge game itself, not transaction taxes. They believe that this structure will improve transparency in the ecosystem.
#Tamadoge Doesn’t Use Transaction Tax, Because We Believe That Value Should Be Generated From The Project Itself, And Not Just From Trading The Token.
That's Why We’ve Made A Commitment To Never Tax Any Token Transfers!
— TAMADOGE (@Tamadogecoin) November 17, 2022
Tamadoge is set for a launch soon. Recent update from the developers confirmed that they are working hard on the game engine and are almost set for a launch. Once Tamadoge clears final audits and bug tests, it will be ready to hit app stores.
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