While various factors can determine the price of the cryptocurrency market, there are some catalysts that have a huge influence over its movements. One such major catalyst that has singularly managed to do this for the past couple of years is the world-famous entrepreneur Elon Musk.
There has been high speculation regarding some assets that he might be interested in recently. As an avid investor with access to billions of dollars, Elon has been a major part of the global market movements for a long time now. The recent talks have been surrounding his intent to invest in Tamadoge, the latest top-grosser cryptocurrency.
What is Tamadoge?
Tamadoge is a highly popular project that has been gaining a lot of popularity due to its fundamentally strong memecoin status. Founded by a diverse team of experienced tech professionals, the project aims to bring about the best play-to-earn platform that is integrated with the metaverse.
The project features a Tamadoge NFT from their collection which users can feed and nurture. After a particular point, these NFTs can be used in games to battle against friends or other random players. Tamadoge has an ambitious roadmap, with several Metaverse factors set to be included.
In the future, developers aim to create a move-to-earn feature where users can walk their Tamadoge and earn rewards for the same. Currently, in the presale phase, the contract for the native token of the ecosystem TAMA has been fully audited by SolidProof. The team too has been verified by Coinsniper to prevent any rug pulls and to maintain security.
As a new addition to the proclaimed Doge ecosystem, Tamadoge has accumulated a huge fanbase, along with communities from several other major memecoin projects.
Elon Musk- Investments and Influence
Elon Musk is currently the richest person in the world with a net worth of more than $270 billion. He is the founder of three very prominent companies- Tesla, SpaceX and The boring company. The billionaire is also an angel investor with holdings in several major organizations.
The 2021 bull market had much to do with the social media influence Elon Musk holds. With a huge number of followers, Elon had been active on several social media websites where he openly mentioned his views on cryptocurrencies.
Dogecoin, the first top meme token was popularized by Elon. He advocated for Dogecoin publicly and even included it as a payment method for his own company Tesla for a brief period.
A tweet from Elon stating his intent to buy a Shiba Inu pup ended up in the creation of a whole cryptocurrency project named Shiba Inu. However, the project not only was highly successful but also managed to accumulate the biggest community in the blockchain industry. Elon Musk had stated that he held several cryptocurrencies, including Dogecoin. Such activities also gained him the nickname ‘Dogefather’.
Has Elon Musk Invested in Tamadoge?
Elon Musk has been a part of, and a major investor in several cryptocurrency projects. While he has publicly announced his investments in Dogecoin, he hasn’t revealed his entire portfolio yet.
His interest in the Doge ecosystem, however, cannot be ignored. The introduction of a cryptocurrency project with such fundamentals has the capability to topple previous major contenders like Dogecoin and Shiba Inu too. With a growing community and a strong team, the project claims to potentially achieve global recognition.
Although Elon may not have claimed to invest in Tamadoge, there is a high possibility that in due time, he may become a part of the community and invest in the ecosystem. This may result in an exponential rise in prices since his following has also historically followed his tracks in terms of investments.
Currently, the constant bearish sentiment looming over the market has seen a massive chunk of people opting out of the global markets as a whole. There has been an immense rise in fear and confusion and the cryptocurrency market too, has been a victim of this.
But on the other hand, major organizations and institutional buyers have been stocking up on various assets of value at discounted rates. Few companies have also announced major partnerships and backing of various kinds.
While such opportunities are publicly utilized by institutions or major investors, the mentioned entities themselves are most likely to be the cause for such discounted prices. Markets function based on psychology which can be massively manipulated even on a global level. That is precisely what these companies and affluent investors tend to achieve most of the time.
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