This article will look at Tamadoge price prediction for 2022 to 2025. We will also look at the project’s history, recent performance and how it is changing the scope of the memecoin economy.
For the past few years, one of the most prominent themes in the cryptocurrency industry has been the emergence of memecoins. Following the rise of Dogecoin last year, which was initially developed as a parody of other cryptocurrencies, investors started to take notice and invested in the project.
Other memecoin projects, such as Shiba Inu and Dogelon Mars, followed the dog theme to establish themselves in the industry. These cryptocurrency projects looked to tap into the growing industry of memecoin, and fortunately, they succeeded throughout 2021.
Fast forward to today, Tamadoge is the newest member of the memecoin economy, looking to tap into the industry. However, unlike other memecoins that did not come with functionalities, Tamadoge combines the world of dog-theme with the play-to-earn industry. According to the platform, they indicate that one of their goals is to push boundaries in the play-to-earn space, and they are looking forward to developing games that people will be tripping over to use.
The platform goes on to explain that the project will give users the ability to mint the doges they want. Users can also breed, train and battle their Tamadoge NFTs to top the leaderboard each month. They have also expressed optimism that their platform’s play-to-earn model will grow to include augmented reality experiences, allowing users to interact with and play with their friends in the Tamaverse.
On September 27, 2022, the Tamadoge mainnet became publicly available, allowing users to access it on many exchange platforms, including OKX and Coinex. Days after launch, the project hit its all-time price high of $0.1957 on October 4.
However, the prices quickly reversed the trend, and for the last two weeks, Tamadoge has been aggressively bearish. This has seen Tamadoge price dropping by 83 per cent from its October 4 price high of $0.1957 to the current price of $0.032.
Tamadoge has only been in the market for less than a month. Although no projects are currently being run on its ecosystem, the project is expected to grow over the years. The platform has already outlined plans to expand into Tamaverse, where users can interact using augmented reality.
For a short time, the project has been in the market, it has grown to have a market capitalization of more than $30 million. Its trading volume is also averaging more than $3 million and growing with each passing day. Therefore, despite not having other projects running on its platform, we will likely continue to see it gaining traction with the users and becoming one of the largest memecoins in the next few years.
Tamadoge has only existed in the markets for less than a month. However, it has had a tumultuous start, with prices rising fast to hit the project’s all-time high of $0.1957, which has then been followed by a drop of 83 per cent.
Looking at the daily chart below, it is clear that the current price action points to a bearish trend. Therefore, I expect the trend to continue for the next few trading sessions. The chart also shows a likelihood that we might see the Tamadoge price continuing with the current bearish trend for the rest of the year, only stopping due to bearish flags and price retracements.
Therefore, I expect the price to trade below $0.01 by the end of the year. In the worst-case scenario, there is a high likelihood we might see the Tamadoge price dropping below $0.005. This is especially true if the current aggressive bearish push continues.
Part of the reason for my bearish analysis is due to the current bearish trend of the entire industry. Tamadoge, being an altcoin memecoin finds itself in a peculiar position due to its significant correlation with the industry. Every time the industry enters a bearish trend, I expect the Tamadoge price to be dragged downwards. Based on the current price action of the industry, it is likely that we will be seeing Tamadoge prices being pushed downwards due to the correlation with the industry a lot.
As I have previously indicated, the current market conditions of the memecoin industry make it very hard to predict the memecoin industry for the long term. However, due to the approach Tamadoge has taken of having utility and a huge NFT platform backing the cryptocurrency, the memecoin is built to last past the memecoin economy hype.
Therefore, I expect the project to still be operational by 2025. I also expect the current bearish trend of the cryptocurrency industry to have ended. There is a high likelihood that, by 2025, Tamadoge’s price will hit its all-time price high of $0.1957 price level, which is over 600 per cent from the current price level.
Although Tamadoge has been disappointing since it was launched, this might likely change in the coming years. By 2025, I expect the project to be up by more than 600 per cent from its current price. I also expect Tamadoge to have set a new price high.
The current cryptocurrency bearish trend, which has dragged the project down for the past few months, will also have ended, and Tamadoge will have entered a long-term bullish trend. Therefore, long-term investors looking for a project they can hold for years should consider Tamadoge.
This post was last modified on Aug 23, 2023, 08:40 BST 08:40