Tamadoge Price Retraces – Perfect Dip-Buying Opportunity?
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Tamadoge retraced today but it appears to be a good opportunity to buy in a dip ahead of a breakout in price in the coming days and weeks.
At the time of writing TAMA is trading at $0.036, down from last week's all-time highs of $0.194 and around 1% down in the last 24hrs.
However, amid a number of new developments in the coming days and weeks, several indicators appear to show TAMA could be set for another surge in price.
Although Tamadoge is a meme coin project at heart, the developers promised from the start that the token would bring more utility than other coins in the same asset category.
The first set of 100 ultra-rare Tamadoge pets went on sale last week - via auction on OpenSea - with the auction to close on Thursday, October 13 at 2.25pm UTC.
Starting at 1ETH, Tamadoge #1 has attracted a top bid - so far - of 2.12ETH, 112% above the starting price.
The ultra-rare pets will boast boosted stats in the Tamadoge game, a Tamagotchi-style play-to-earn (P2E) game that will see players feed and grow their pets.
When the pets are fully grown, players do battle against each other for the chance to move up a global leaderboard for rewards and prizes.
Furthermore, the game will have a direct impact on the price of TAMA through its burn mechanism in the pet store.
Toys, treats and food for the pets are bought with TAMA in the pet store and 5% of each transaction is burned, making the coin deflationary.
Later parts of the roadmap show more P2E mini games will released in the Tamaverse, while an augmented reality app is in development and set for release in Q4 2023.
Players will be able to take
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