- Summary:
- Tamadoge price has failed to live up to its premise and instead continues to fall. Last week, the crypto lost 44 per cent of its value.
Tamadoge’s launch last month was one of the most anticipated cryptocurrency events of the year. However, weeks after its launch, Tamadoge price has failed to live up to its premise and instead continues to fall. Last week, the crypto lost 44 per cent of its value.
This was despite the crypto going up by almost 200 per cent during the week and looking likely to break its all-time high in the coming weeks. Therefore, from its weekly price high of last week, Tamadoge’s price fell by more than 80 per cent to its weekly price low.
Today, despite the coin going up already by 5 per cent, it has mirrored last week’s trend, whereby it started aggressively and then fell as the hours progressed. This is after Tamadoge posted an early morning 30 per cent price surge followed by an aggressive bearish trend that has resulted in the prices dropping to the current level of a 5 per cent gain.
Is Tamadoge Price Likely to Fall Again
One of the factors to consider when looking to invest in Tamadoge is its recent price action. Last week, the crypto fell by 44 per cent. Today, after hitting a price high of $0.0499, its prices have fallen by more than 20 per cent.
What this shows is that Tamadoge is very volatile. It also shows that, in most cases, Tamadoge’s dominant trend has been bearish. Therefore, the insight we can take from this is that, at any given time, we should expect the price of Tamadoge to drop. This applies even to trading sessions that have started strongly and have seen the crypto surge.
The daily chart below shows a repeated pattern since its launch, whereby the Tamadoge price starts surging, and its price aggressively moves bearish. For this reason, I expect the next few trading sessions to follow the same trading pattern.
Therefore, there is a high likelihood that we might see the Tamadoge price drop to trade below the $0.030 price level in the coming sessions. There is also a high likelihood that prices may hit the $0.017 support level within the next few weeks. This analysis will be invalidated should Tamadoge trade above the $0.055 resistance level.
Tamadoge Daily Chart
