Tamadoge Price Prediction as Price Pumps Ahead of Top 5 Exchange Listing - Will It Outperform Dogecoin and Shiba Inu?
Play-to-Earn Dogecoin spinoff Tamadoge (TAMA) recently announced that it would be listed on a top five cryptocurrency exchange later this month – and its price has been soaring ever since.
On April 14, TAMA surged from $0.011 to $0.015, following confirmation of the news from the project’s official Twitter page that same day. The page suggested that the coin could be listed on Binance, Coinbase, Kraken, or Bybit but didn't specify which exchange it would actually be.
The coin pumped again on Tuesday from $0.015 to over $0.02. After a brief pullback to $0.18 on Wednesday, the coin once again mooned on Thursday to a price of $0.035, where it trades at the time of writing.
On Wednesday, the Tamadoge team added that the coin was set to list on multiple Tier 1 exchanges - and would reveal one such platform on April 24.
The announcement has undoubtedly had positive implications for TAMA’s price – as will the upcoming exchange reveal. Could this make TAMA a better investment choice than rival dog-themed coins, including Dogecoin and Shiba Inu?
Let's analyze the hottest Dogecoin-related cryptos right now and see which is best for meme coin traders.
Tamadoge Analysis – Where Could the TAMA Price Go?
Tamadoge's price action shows a lot of bullish momentum that isn't likely to slow down soon. Trading above $0.03 on Thursday, its price hasn't seen such highs since November last year.
Should it break the resistance around $0.038, the coin will likely rise to $0.052, which was seen back in October. If this level is broken through, TAMA’s price has massive upside potential - with few other proven resistance levels in its months-long lifespan.
Digging deeper into the price chart, the 4H timeframe shows that several long wicks are being created around this $0.038 level. This indicates that a large proportion of selling orders are pushing the price back down – but can the TAMA price close above this area?
Several technical indicators also paint a rosy picture for TAMA. Price broke the 50-day EMA, which highlights the medium-term trend, on April 14. After re-testing this EMA over the following days, TAMA then soared to the level we’re seeing right now.
The 10-day EMA, a proxy for the short-term trend, is similarly bullish. However, investors do need to be wary that the RSI shows TAMA is now in "Overbought" territory. This doesn't mean the price will reverse – but it does imply that a correction may be pending.
If the price does correct, the Fibonacci indicator often provides a clue of where the correction could take place. Based on the indicator, it appears that TAMA could pull back to the $0.03 level – which is already being seen on the 4H chart.
Thus, TAMA investors may have another opportunity to get involved at this reduced price point before the second leg of the "bull run." Given that TAMA has yet to breach the all-time highs of $0.1957 made in October 2022, excitement has now reached fever pitch around the token's prospects.
How Does Tamadoge Stack Up Against Other Meme Coins?
Many of crypto's top altcoins, including Polygon, Cardano, and Polkadot, slid by roughly 4% on Wednesday. Dogecoin (DOGE) was no exception, dipping to $0.087 that day. Despite approaching a recovery on Thursday, the coin quickly tanked again down to $0.083 after Elon Musk’s starship exploded in mid-air during a test flight.
Dogecoin's price is known to be heavily influenced by SpaceX, Tesla, and Twitter CEO Elon Musk, who frequently shows support for the cryptocurrency through bullish statements and online memes. His public support was a significant catalyst for the coin reaching above $0.70 in May 2021.
Some thought that Dogecoin might pump again on Thursday as Musk’s starship happened to be scheduled for a test flight. Also, April 20 (4/20) has been celebrated by the Dogecoin community as "Doge Day" for years as a way to pump the coin's price further.
The flight was initially scheduled for April 17 but was delayed by Musk to April 20 due to technical issues. Many in the Dogecoin community interpreted this as a deliberate attempt to make the launch take place on Doge Day, potentially sparking a pump.
Nevertheless, the test flight’s fiery failure culminated in precisely the opposite. The newfound downside momentum and anti-climactic Doge day signal that future short-term gains for DOGE are unlikely.
Despite challenging Dogecoin back in 2021 for dominance as the chief Doge-themed cryptocurrency, Shiba Inu (SHIB) has since been left in the dust by its parent coin. While Dogecoin remains the #8 crypto by market cap with a value of nearly $12 billion, SHIB remains at little more than half of that at $6.25 billion.
Like Dogecoin, SHIB tanked after Elon Musk’s failed starship launch on Thursday., now trading 3% down since Wednesday for just $0.00001062. This followed a similar downward slide over the past week, which puts it down almost 10% since Sunday.
The token also has a user growth problem. It logged only 1473 new blockchain addresses on Wednesday, compared to over 2400 new addresses on March 1, according to Santiment.
Should the coin continue its slide, it could fall as low as $0.000009, where it would likely find support against a floor of 343,000 addresses that bought in at that level.
What is The Best Meme Coin to Buy This Week?
Despite Musk’s Doge Day rocket failure, Tamadoge only continues to climb, giving it a standout edge against its doggy-coin competitors.
Not only is the coin up another 53% on Wednesday, but its momentum has stayed strong. The coin has an upcoming exchange listing announcement on the 24th, with more likely planned soon after. Exchange listings are known to pump token prices, meaning TAMA is probably the best memecoin to buy in the short term.
