Although various factors can determine the price of the cryptocurrency market, there are certain catalysts that have a huge influence on its movements. World-renowned entrepreneur Elon Musk is one such major catalyst who has been singularly successful in doing so over the past two years.
There has been heavy speculation about some assets that might interest him recently. As an avid investor with access to billions of dollars, Elon has long played a major role in global market movements. Recent talk has surrounded his intention to invest in Tamadoge, the latest top-grossing cryptocurrency.
What is Tamadoge?
Tamadoge is a very popular project that has gained popularity due to its status as a fundamentally strong memecoin. Founded by a diverse team of experienced tech professionals, the project aims to create the best game-to-win platform integrated into the metaverse.
The project features a Tamadoge NFT from their collection that users can nurture and maintain. After a certain point, these NFTs can be used in games to compete against friends or other random players. Tamadoge has an ambitious roadmap, with several Metaverse factors to include.
In the future, the developers aim to create a move-to-win feature where users can walk their Tamadoge and earn rewards for the same. Currently in the pre-sale phase, the contract for the native token of the TAMA ecosystem has been fully audited by SolidProof. The team has also been verified by Coinsniper to prevent any mat pulling and to maintain security.
As a new addition to the proclaimed Doge ecosystem, Tamadoge has amassed a huge fan base, as well as communities from several other great memecoin projects.
Elon Musk – Investments and Influence
Elon Musk is currently the richest person in the world with a net worth of over $270 billion. He is the founder of three very important companies: Tesla, SpaceX and The Boring Company. The billionaire is also an angel investor with stakes in several large organizations.
The bull market of 2021 has a lot to do with the social media influence that Elon Musk wields. With a large 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 publicly advocated for Dogecoin and even included it as a payment method for his own Tesla business for a brief period.
A tweet from Elon indicating his intention to buy a Shiba Inu puppy resulted in the creation of an entire cryptocurrency project named Shiba Inu. However, the project was not only a great success, but also managed to accumulate the biggest community in the blockchain industry. Elon Musk said he held several cryptocurrencies, including Dogecoin. These activities also earned him the nickname “Dogefather”.
Did Elon Musk invest in Tamadoge?
Elon Musk has been part of and has been a major investor in several cryptocurrency projects. Although he has publicly announced his investments in Dogecoin, he has yet to reveal his entire portfolio.
His interest in the Doge ecosystem, however, cannot be ignored. Introducing a cryptocurrency project with such fundamentals also has the ability to topple previous major competitors like Dogecoin and Shiba Inu. With a growing community and a strong team, the project hopes to achieve global recognition.
Although Elon may not have claimed to invest in Tamadoge, it is highly likely that in due time he will become part of the community and invest in the ecosystem. This can cause prices to rise exponentially since its sequel has also historically followed in its footsteps in terms of investments.
Currently, the constant bearish sentiment hanging over the market has seen a large number of people withdraw from global markets as a whole. There has been an immense increase in fear and confusion and the cryptocurrency market has also fallen victim to this.
But on the other hand, large organizations and institutional buyers have been sourcing various valuable assets at discounted rates. Few companies have also announced major partnerships and support of all kinds.
Although these opportunities are publicly used by institutions or major investors, the entities mentioned themselves are most likely the source of these discounted prices. Markets operate on the basis of psychology which can be massively manipulated even on a global level. This is precisely what these affluent companies and investors tend to achieve most of the time.
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