Axie Infinity, a play-to-earnings powerhouse, is up 33% in the last seven days; can this aid TAMA?
The performance of the standout play-to-earn coin Axie Infinity may have renewed interest in the coin, helping to refocus investor and trader attention on coins in the P2E games sector.
AXS has gained 33% in the last seven days but is down 7% today at $11.90.
The initial P2E success story is Axie; however, after the $650 million Ronin Bridge hack, the price dropped and many gamers left the game.
A redesigned game that has corrected some of the shortcomings in the original, which seemed to emphasize drawing speculative hot money, shows promise of altering that.
In order to obtain incentives in the form of the in-game currency Smooth Love Potions, gamers were also funneled into repetitive and dull gaming in the original Axie game (SLP).
In the short term, the unlocking of 1.8% of AXS supply was met with a price increase in anticipation of a counterveiling announcement to prevent market players from reacting negatively.
AXS has retained the majority of its gains, peaking at $13.68 on a 7-day basis but retracing lower since then.
Tamadoge is the eighth most valuable meme currency in the Coinmarketcap meme coin category.
Tamadoge appears to have a far better chance for market-beating returns in the short run at this point.
Returning to the meme coins sector, all main cryptocurrencies have gained value in the last seven days, lifting all boats to some measure.
Along with Tamadoge, other top performers over the last seven days include Shiba Inu, which is up 12% at $0.00001195; Baby Doge Coin, which is up 13%; FLOKI, which is up 22% at $0.00001181; and Dogecoin, which is up a more moderate 5% to $0.08842.
Tamadoge is by far the biggest gainer in the last 24 hours.
Ultimately, a coin’s value is determined by the strength of its product, and Tamadoge has a lot going for it on that basis. According to a message on the official Telegram channel and Twitter, its debut game, Super Doge, will be released from beta this week.
That news has begun to entice buyers of the TAMA token.
According to beta tester reviews, Super Doge is the most skill-driven of the games presently being tested in the arcade, so the team made a wise decision to release it first. According to gaming data given with cryptonews, it is also the most addictive.
The remaining four games are Rocket Doge, To the Moon, Tama Blast, and Tamadoge Run, which will undoubtedly be released in full soon.
Given that the token is 90% off its all-time high of $0.196, printed on October 5 of last year, the upside for the TAMA price might be 10x in the near term.
However, once the first game is out, investors will have a tangible product with which to evaluate the project’s potential.
Tamadoge is described as the future of Play to Earn in the Telegram announcement of the Super Doge release, which may not be too far off the mark. It may also represent the future of meme currency.
