Just when you thought that there couldn't possibly be another meme coin like Dogecoin (CRYPTO: DOGE) or Shiba Inu (CRYPTO: SHIB), along comes the hottest meme coin of the year: Tamadoge (CRYPTO: TAMA). This new meme coin just started trading at the end of September, but it has already skyrocketed in value. It was up 200% in its first week of trading. For a very brief period, it was trading near $0.20. Could it reach $1?

Keep in mind that the world has never seen a $1 meme coin. The all-time high for Dogecoin, for example, is just $0.74. It now trades for about $0.06. And Shiba Inu will be lucky if it ever trades for a penny. But there are now $1 price estimates out for Tamadoge, and for good reason: Tamadoge is not like all the other meme coins out there.

Unlike other meme coins that have sought to leverage the original success of Dogecoin, Tamadoge has some real-world utility behind it. Tamadoge is billed as a play-to-earn metaverse game in which users breed virtual dogs in the metaverse ("Tamaverse") and then compete for crypto prizes. It has already been compared by crypto news sites to Axie Infinity (CRYPTO: AXS), which burst on the scene in 2021 as a popular play-to-earn game. At its current price of $11.65, Axie Infinity is up about 7,900% since its launch, so you can see the appeal for investors.

Continue reading

Source Fool.com