AMTD Digital Meme Stock Tamadoge

Meme stocks and meme crypto assets are known for high percentage gains – the 21,000% rally of AMTD Digital is the latest to make headlines.

According to stock and cryptocurrency tracking site TradingView the market capitalization of AMTD Digital briefly pumped higher than that of Facebook’s parent company Meta Platforms this week, spiking to over $450 billion.

CNN also noted the ‘little-known’ Hong Kong company, listed on the New York Stock exchange (NYSE: AMTD), overtook Costco in valuation and is now one of the most traded stocks on Fidelity.

What is AMTD Digital?

AMTD themselves are a serious company – a financial services startup offering Fintech services in Asia. However they have become the favorite stock of Reddit traders, reminiscent of the GameStop craze and short squeeze of January 2021.

AMTD Digital is now the most mentioned Reddit stock, and the subject of internet memes – although this time no one seems to know why.

Unlike GameStop being ‘pumped’ by nostalgic video games fans in response to hedge funds shorting the company’s stocks, there’s no clear reason for AMTD Digital shares rising, other than as an internet prank and retails investors joining the bull run.

The company has written a thank you note to investors, also stating:

‘During the period since our initial public offering, the company noted significant volatility in our ADS price and observed some very active trading volume. To our knowledge, there are no material circumstances, events nor other matters relating to our company’s business and operating activities since the IPO date.’

AMTD Digital’s IPO was just a few weeks ago, on July 15th, and since then it’s run-up also saw it overtake Walmart, JP Morgan and Procter & Gamble in value.

TradingView does note that similarly to the GameStop pump, AMTD Digital’s run-up has been ‘exacerbated by short covering to offset losses by hedge funds with bearish positions on the stock’ – but no specific funds have been mentioned as targets on Reddit.

Some posters on the Wall Street Bets subreddit have also denied responsibility for this latest short squeeze of AMTD Digital stock price.

Next Big Meme Coin – Tamadoge?

It’s difficult to predict which meme stocks and meme coins will have explosive bull cycles – Dogecoin (DOGE) and Shiba Inu (SHIB) blew up in 2021 after Twitter mentions from Elon Musk and other celebrities but since have retraced in value.

At press time the share price of AMTD Digital has also corrected back to $1,100 HKD, down 35% today but still up 174% this week.

One coin that is trending on social media is newest meme coin Tamadoge (TAMA), currently on beta sale and yet to launch on crypto exchanges.

Tamadoge meme crypto

The website bills its project as the ‘play to earn Dogecoin’ offering a greater level of utility than DOGE and aiming to take a slice of its market share.

DOGE currently has an $8.8 billion market cap, ranked the #11 largest crypto asset on CoinMarketCap and the largest meme coin.

The ‘Doge meme’ has become a mainstay of internet forums and Shiba Inu successfully rode that wave to rise over 52 million percent in 2021 (from $0.000000000168 to $0.00008854 per coin) – the bull cycles of meme coins tend to far outperform meme stocks.

After overtaking Deutsche Bank in late 2021 to hit a market cap of $40 billion, Shiba Inu is still today the #16 crypto asset, valued at $6.5 billion. The highest percentage gains however are made by early investors, either at ICO or during a crypto presale.

The Tamadoge beta sale period has so far raised over $150,000 from early investors hoping it may be the next big meme coin with its fun concept – in the planned Tamadoge battle app players will mint, feed, train and wage combat with NFT doge pets.

Tamadoge (TAMA) will launch on crypto exchanges in Q4 2022, including Uniswap and an already approved CEX listing on LBank.

Tamadoge - The Play to Earn Dogecoin

Our Rating

  • '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