Shiba Inu (SHIB) and Solana (SOL) are among the hottest projects on the market right now. While they will undoubtedly bring significant returns in the upcoming months, another project is showing much greater potential, Cutoshi.
Thousands are rushing to snatch discounted $CUTO tokens during the ongoing presale, which has already raised over $1.1 million in funds.
Shiba Inu Consolidation Continues, Burn Mechanism Goes Into Overdrive
Shiba Inu has recorded nearly 40% over the past few weeks as meme season has entered its euphoric phase. After peaking at $0.000029, selling pressure intensified, leading to a pullback that saw Shiba Inu locked in a narrow trading range around the $0.000025 mark.
Renowned analyst Ali Martinez has shared an interesting insight on X regarding Shiba Inu’s next possible move. He points to the striking similarities between Shiba Inu and Dogecoin’s charts. The SHIB price seems to be following the DOGE path and it could soon experience a similar explosive move, with the next major target being $0.000038.
In addition to this, Shibburn, SHIBA INU’s deflationary mechanism is working overtime, as reflected by the 4,500% increase in burn rate. Over the last 24 hours alone, more than 53 million SHIB tokens were removed from circulation.
This constant series of supply shocks primes Shiba Inu for sustainable price increases. However, it’s unlikely that the meme coin will see the same multipliers of the past given its multi-billion market cap. For this reason, many veterans are rotating funds into undervalued gems such as Cutoshi that offer significantly better ROI.
Solana Is Back At $240, What’s Next?
After reaching an all-time high of $263 just last week, Solana retraced and settled around $240. Solana briefly plunged below this support level, retesting $227 and this is where buyers stepped in, pushing the price higher.
Meanwhile, bullish catalysts are lining up for Solana which could soon see it reach a new peak by the end of 2024. For starters, meme season has sent the market into a frenzy, which has fed tens, if not hundreds of millions in revenue into Solana’s ecosystem. Simultaneously, talks about a possible spot SOL ETF are heating up, with numerous institutional investors and fund managers, including VanEck and Bitwise filing for approval.
A Solana ETF could hit the markets in the second half of 2025, but savvy investors are already “buying the rumor” in anticipation of a preemptive, ETF-driven rally. This is also reflected by Solana’s weekly RSI which stands at 65 points, meaning that interest is only increasing and that demand is still outpacing supply.
Cutoshi Is Setting A New Standard For Meme Coins
Cutoshi is an innovative new meme coin that combines meme coin hype with DeFi utility. Inspired by the mythical Japanese Lucky Cat of good fortune, Cutoshi boasts a unique reward system that will allow community members to reap substantial monetary prizes.
Through Cutoshi Farming, users can partake in special events and complete fun and engaging missions aimed at boosting the project’s online presence. In exchange, they will receive CUTO points that can later be redeemed for $CUTO once the token is available for trading. Until December 4th, users can also participate in Cutoshi’s meme contest and share their best memes. The top 10 posters will receive a cut from the $2,000 prize pool while helping spread awareness about the project.
At the heart of the Cutoshi ecosystem is CUTO DEX, a cutting-edge cross-chain exchange that brings together isolated blockchains. Users will be able to swap across a multitude of assets at a near-instantaneous speed and just 0.25% in fees.
The third stage of the $CUTO presale is 92% sold out and tokens sell at a discount for just $0.0259. This is a perfect entry point for investors who want to be on the winning side of the CUTO revolution.
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