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Shiba Inu (SHIB) trended down 1% over the past week. However, as SHIB maintains a bearish trend, a new meme currency is posting impressive numbers.
Shiba Inu course
SHIB, the second best meme currency by market cap, is currently trading at $0.00001107. The crypto asset has trended down 0.18% in the past 24 hours. Its price is also down 0.5% over the past week, correlating with the broader market..
Technical data from SHIB also indicates a strong downtrend. SHIB is trading below all of its moving average (MA) indicators. Its 10-day MA stands at $0.00001112. At the same time, its Moving Average Convergence and Divergence (MACD) indicator is negative, indicating a sell signal.
However, with a Relative Strength Index (RSI) of 44.57, SHIB looks underbought at the moment.
TAMA: 100% gains is just the start
As SHIB investors expect the asset to turn higher, another meme coin is already in full swing.
TAMA was one of the best performing coins of the past week.
TAMA was launched on the OKX exchange last Monday, and assets jumped more than 200% since then. The price of TAMA, which was quoted at $0.03, is currently trading at $0.0738. The data page of the crypto asset on OKX also shows a trading volume of $9.79 million in the last 24 hours.
TAMA has also continued to attract investor interest, as evidenced by its inclusion in a list of the most trending cryptos in the market.
And there are still several factors that could encourage a rise in the value of TAMA. Currently, the developers of the asset are working on expanding its investor base, with listings on two exchanges expected on October 5.
According to their Twitter page, Tamadoge developers are ready to List TAMA on MEXC and LBank. They are two of the largest centralized exchanges in the market, with a combined user base of almost 20 million people in over 200 countries.
Once TAMA is listed on MEXC and LBank, the demand for this asset could increase, which would strengthen the price of the coin.
The launch of Tamadoge is imminent
In addition to stock exchange listings, TAMA investors are also preparing for full launch of Tamadoge. The platform will allow players tobuy non-fungible tokens (NFT) representing digital pets, which they can raise and use to compete with those of other players. Winners will be rewarded with TAMA tokens.
The launch of Tamadoge should provide an official use case for TAMA. Players will be able to use the coin to purchase Tamadoge NFTs, stake them, and gain voting rights on the Tamadoge platform.
Tamadoge developers have announced that the full platform will be launched before the end of the year. With this, the price of TAMA could increase significantly.
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Shiba Inu Price Drops 1% As This New Token Is Up 100% In 24 Hours
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