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Cryptocurrency News Articles
Cutoshi Gains Widespread Attention As Ethereum's Next 100x Meme Coin
Oct 22, 2024 at 06:44 pm
The difference between Cutoshi (CUTO) and other top meme coins in the market is clear, especially considering its fully decentralized community-based hybrid ecosystem which regular meme coins rarely develop.
Ethereum (ETH) price seems to be headed for a strong bull run as it eyes a key resistance level above $3,000. This rally is expected to be driven by the impressive growth of altcoin projects on the Ethereum network.
Two notable altcoins on the Ethereum network that could spearhead this rally are Shiba Inu (SHIB) and Cutoshi (CUTO). While SHIB has been making headlines with its massive gains, cutoshi is a new meme coin that aims to deliver exponential gains.
Cutoshi stands out from other meme coins with its fully decentralized community-based hybrid ecosystem. This ecosystem integrates DeFi tools, such as a decentralized exchange (DEX) platform, allowing users to swap cryptocurrencies across multiple chains.
Adherence to Satoshi Nakamoto’s principles of decentralization, monetary power, and privacy further sets cutoshi apart. The project also features a farming mechanism where participants can earn token rewards, as well as NFTs and merch. Additionally, there’s a DeFi learning hub to spread knowledge about decentralized finance.
cutoshi native token, $CUTO, has a buyback and burn mechanism that stabilizes its value long-term. Burning the supply will drive up the value of $CUTO tokens due to increasing scarcity and demand. Currently, $CUTO trades at $0.22, securing a 46% return on investment for early investors who bought the token in its first presale stage at $0.015.
Ethereum (ETH) price has risen by over 9% in the past week. This jump was significant for Ethereum as it marked the token’s second recovery above the crucial $2,600 price mark in the past month.
As seen in the chart below, Ethereum price initially jumped from levels around $2,300 to $2.600 in the last week of September but was subsequently hit by a noticeable decline. After consolidating below the $2,400 price level for a while, dipping as low as $2,300, ETH token commenced another recovery journey to trade above the $2,600 again.
However, now that Ethereum has completed over 14% month-long rise, experts predict a $3,000 milestone for Ethereum token very soon as activity on its network surges. This claim is further backed by Ethereum’s technical analysis, including 20, and 50-day moving averages which points at a strong buy signal.
Shiba Inu (SHIB) has sparked renewed interest in its network after surging by 42%, reaching a weekly price range of $0.0000170 to $0.0000190. This spike comes amid a new resurgence of interest in meme coins.
A significant boost in trading activity was observed with Shiba Inu’s network activity jumping by nearly 20% to reach $504 million.
With a progressive uptrend as observed in its monthly chart above, Shiba Inu price is now eyeing a potential breakout to retest its 7-months ATH, where it reached a peak price of $0.0000335. This growth in Shiba Inu price is also fueled by the growth of its layer-2 scaling solution— Shibarium. This, combined with the rising positive sentiment in altcoins, might further fuel Shiba Inu’s upward trajectory this Q4.
Both cutoshi and Shiba Inu are meme coins, and it’s hard to predict which of the two will reach the $1 mark first. However, considering cutoshi’s DeFi orientation, network, and fresh growth potential in both the meme coin and DeFi markets, cutoshi has a higher chance of reaching $1 before Shiba Inu.
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