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Cryptocurrency News Articles
Cutoshi (CUTO) Presale: A Utility Hybrid Coin With Meme Appeal That Could Explode By 10000%
Oct 15, 2024 at 04:00 pm
As analysts predict that the cryptocurrency market is on the verge of a huge rally, with Bitcoin forecasted to rise by 250%, we look at an altcoin
Cutoshi (CUTO) is an upcoming ERC-20 token that has sparked curiosity among cryptocurrency enthusiasts. The presale of CUTO is grabbing attention as analysts predict a massive rally in the crypto market. While Bitcoin is forecasted to surge by 250%, investors are also eyeing altcoins that could deliver substantial returns.
In this context, let’s compare Cutoshi to two popular memecoins - BONK and SHIB - and explore their respective journeys.
Cutoshi derives its name from Satoshi, the still-anonymous creator of Bitcoin, who envisioned a decentralized monetary system empowering everyone. Cutoshi aims to combine the appeal of a meme coin, being the blockchain representation of the Chinese Lucky Cat, with a DEX, an engaged community promoting Cutoshi, merchandise, rare NFTs for enhancing DeFi capabilities, and a buy-and-burn mechanism to support high prices.
Cutoshi is an interesting project with a presale that has already sold out multiple times. The tokenomics are designed to incentivize early investors and create scarcity. But it's important to remember that cryptocurrency investments can be volatile and there's always the potential for losses.
Before diving into the comparison, let's quickly recap the stories behind BONK and SHIB.
Solana's biggest memecoin success story is Bonk, a token that started out without any utility but gained massive traction when it was handed out for free with Solana's Saga phone. Solana's user-friendly interface set it apart from other more-complex blockchains, and BONK led the charge of memecoins on the speedy chain.
BONK was later given utility by its community, including:
While this has been bullish for those who got in at a low price, new investors are unlikely to see those kind of returns as the token now sits at a 1.5 billion market cap.
Shiba Inu also started off as a coin with no utility, a Dog-themed alternative to the already big Dogecoin. Although it never managed to surpass Dogecoin in terms of market cap, it's still the second biggest memecoin with a market cap of $10.6 billion.
One of the main reasons that Shiba Inu has grown so big is the amount of development and community love. Shiba started out small and then launched ShibaSwap, a decentralized exchange. More tokens were added to the ecosystem, including LEASH and BONE. As the community grew, so did the use cases. Quite a few shops in the US do accept Shiba Inu as a form of payment.
Shiba Inu then went on to launch its own blockchain, the Shibarium, and an ezine called ‘The Shib.io’ where users can catch up on the latest crypto news in a whimsical way, and mint NFTs of the front covers for free.
Now, let's compare Cutoshi to BONK and SHIB based on their respective narratives, community engagement, and potential for growth.
Cutoshi is a new token that aims to combine the hype of meme coins with the utility of a DEX, community, merchandise, NFTs, and a buy-and-burn mechanism. It's a presale token that is yet to be listed on major exchanges.
BONK, on the other hand, is a meme coin that was created as a joke and later given utility by the community. It was massively hyped up and saw incredible price action, especially when it was announced that it would be given out for free with Solana's Saga phone.
Finally, SHIB is a meme coin that started out with no utility but later on went on to launch its own DEX, additional tokens, and even its own blockchain. SHIB also has a massive community and a lot of development around it.
In terms of community engagement, Cutoshi is still building its community and aiming for 100K members on Telegram. BONK has a large community that is engaged in creating use cases and promoting the token. SHIB also has a strong community that is actively promoting and using the token.
As for potential for growth, Cutoshi is aiming for 10,000% gains before it even hits major exchanges. This is based on the mix of utility and memeability. However, it's important to note that cryptocurrency investments can be volatile and there's always the potential for losses.
BONK saw massive gains and early investors who bought in at a low price were able to achieve life-changing returns. However, new investors are unlikely to see the same kind of returns as the token now sits at a 1.5 billion market cap.
SHIB also saw impressive growth and early investors were able to multiply their investments by hundreds or even thousands of times. However, the token is now up by 31,884,558% since its listing on CoinMarketCap, so the potential for growth is limited from here on out.
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