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Cryptocurrency News Articles
Cutoshi (CUTO) Hybrid MemeFi Project Gains Traction as DOGE Rebounds with a 33% Increase
Oct 23, 2024 at 06:14 pm
As altcoins like DOGE rebound with a 33% increase, the spotlight is shifting to the presale success of Cutoshi, a hybrid MemeFi project that's quickly gaining traction.
As the crypto market experiences a resurgence, some altcoins have witnessed significant price increases. While Dogecoin (DOGE) price rose by 33%, other tokens like Sui (SUI) faced a setback. However, amidst the market highs and lows, Cutoshi (CUTO) has emerged as a hybrid MemeFi project gaining attention during the presale.
The recent market uptrend has contributed to the rise of some top altcoins. As observed in the monthly chart below, DOGE price fell from its closing high price of $0.13 in September to trade below the $0.11 support level.
While the noticeable decline cast a shadow of doubt on DOGE token’s potential for a bullish Q4, the recent price resurgence is steering up strong optimism in the DOGE community. Currently trading within a weekly price range of $0.11 and $0.14, DOGE price reflects a noticeable price increase of over 23% in the past week and over 33% in the past month.
Meanwhile, this progressive uptrend is now pushing the meme coin’s price towards its 6-month ATH of $0.22. Interestingly, market analysis suggests that the ongoing trend may persist throughout the Q4, considering that DOGE technical analysis, including 20, 50, and 200-day moving averages, points at a strong buy.
On the other hand, SUI price has consolidated within a narrow range in the past week. As seen in the chart below, the token’s price fell below the $2 threshold and currently trades within a weekly price range of $2.24 and $1.97.
SUI token’s technical analysis, including the moving averages, suggests a mixed sentiment for its price trajectory. While the 30, 50, and 200-day moving averages point at a buy signal, the shorter duration moving averages point at a sell signal.
This neutral bias portrays an uncertainty for SUI token’s future. However, the SUI community on CoinMarketCap is still very bullish about a potential resurgence, with 82% of 31k+ voting in favor of an imminent bull run for SUI token.
Unlike Dogecoin whose price trajectory is predominantly driven by sensationalism and steadfast backing from Tesla, Sui Network is a blockchain and smart contract platform designed to facilitate digital asset ownership.
Cutoshi, on the other hand, is a hybrid protocol that combines the best attributes of memecoins and decentralized finance. Essentially, Cutoshi adopts Satoshi Nakamoto’s Bitcoin core principles of decentralization, privacy, and monetary freedom.
While its ecosystem is established on these core principles, Cutoshi houses intrinsic features like a DEX platform, a staking protocol, and a farming mechanism. Cutoshi Farming allows community members to earn extra tokens, alongside complementary NFTs and merch by engaging in specific quests and challenges. Furthermore, Cutoshi also hosts a learning academy that is aimed at spreading DeFi knowledge to a global audience.
The best part, however, is Cutoshi tokenomics. Notably, the entire operation on the platform is powered by the native CUTO token. Having surged by 46% from $0.015 to $0.022 in the second presale stage, the CUTO token has been tipped for an exponential price increase, potentially matching top altcoins like Dogecoin and Shiba Inu.
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