Axie Infinity Price Slips, But Play-to-Earn Meme Coin Tamadoge Pumps 20% on Super Doge Game Launch News
Tamadoge is the top-performing major meme coin today, trading up 19% at $0.0176, after announcing its first game – Super Doge – will launch this week.
Tamadoge currently has five games in beta testing in its Games Arcade, which makes it somewhat different to the run of the milll memes coins lacking in utility.
Interest in the coin is perhaps being rekindled by the performance of the standout play-to-earn coin Axie Infinity, helping to refocus investor and trader attention on coins in the P2E games sector.
AXS is up 33% in the past seven days although is down 7% today at $11.90.
Axie is the original P2E success story, but following the $650 million Ronin bridge hack the price collapsed and many users fled the game.
There are signs of that changing with a revamped game that has addressed some of the flaws in the original, which seemed to emphasise attracting speculative hot money.
The original Axie game also funnelled users into repetitious and boring gameplay in order to earn rewards in the form of the in-game currency Smooth Love Potions (SLP).
On a more near-term view, the unlocking of 1.8% of AXS supply was met by a pump in the price on the expectation of a counterveiling announcement to forestall a bearish reaction by market participants.
AXS has held on to most of those gains, peaking at $13.68 on a 7-day view, but retracing lower since then.
At this point then, Tamadoge looks like a much better bet for market-beating returns over the short term.
Returning to the meme coins sector, all major coins have added value over the past 7 days, and that has had the effect of lifting all boats to some extent.
Alongside Tamadoge, other top performers over seven days include Shiba Inu up 12% at $0.00001195, Baby Doge Coin up 13%, FLOKI
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