Tamadoge continued its volatile price action overnight but has retraced to find its support levels as the project continues to build behind the scenes.
In the early hours of Wednesday, TAMA dipped as low as $0.03026 before a sharp surge up to a 24hr high of $0.03834 – a 27% increase in around five hours.
Profits were then taken by scalpers and traders with TAMA currently trading at $0.03622, with the coin still the third-largest meme coin by volume and behind only Dogecoin and Shiba Inu.
However, there is reason to be optimistic in the days and weeks ahead.
We have heard rumors of a major update from the developers later this week, so there could be concrete news on game development milestones.
Tamadoge Not Just a Meme Coin
As was promised from the start of the project, Tamadoge was never just another meme coin project.
The first set of 100 ultra-rare NFT pets are on sale via auction on OpenSea now, with Tamadoge #1 attracting a top bid of 2.12ETH – 112% above the 1ETH starting price.
The ultra-rare auction ends on Thursday, October 13 at 2.25pm UTC – with the ultra-rare pets having improved stats that will give them increased chances to win in the Tamadoge game.
The play-to-earn game, styled on 90s craze Tamagotchi, sees owners of the NFT pets feed, treat and grow their pets into adults.
They then battle against other holders for the chance to move up a global leaderboard for rewards and TAMA.
The price of TAMA itself will also be affected by the game because of the deflationary mechanism in play.
Holders buy digital treats and food in the Tamadoge pet store with TAMA and 5% of tokens from those transactions are burned.
With TAMA already having a limited supply compared to most other meme coins, the burn mechanism will see the token become scarcer and increase value.
Tama Sketches – Part 2!
We Are Happy To Share More Sketches Of The #Tamadoge Game With You!
— TAMADOGE (@Tamadogecoin) October 11, 2022
In the coming weeks another 21,000 NFTs will be released on OpenSea, in two more tiers – 1,000 rare and 20,000 common.
Later in the roadmap the Tamadoge ecosystem will grow to include more P2E mini-games, while a landmark augmented reality app is also in development.
The app, set for release in Q4 2023, will allow holders of Tamadoge NFTs to explore the real world and hunt for treasure.
Those developments should see the price of TAMA make strong gains in the weeks and months to come.
Tamadoge - The Play to Earn Dogecoin
- '10x - 50x Potential' - CNBC Report
- Deflationary, Low Supply - 2 Billion
- Listed on Bybit, OKX, Bitmart, LBank, MEXC, Uniswap
- Move to Earn, Metaverse Integration on Roadmap
- NFT Doge Pets - Potential for Mass Adoption