Although the crypto market retraced today, memecoins remain the best-performing sector of 2024. Furthermore, data from CoinGecko shows that this week, meme-related categories were the top 5 best performing areas.
Dogwifhat has been teasing holders as it inches towards $3, but faces a setback, can it overcome the issues? Meanwhile, memecoin Cutoshi rises by 46% as it sells over $540,000 worth of CUTO tokens.
Dogwifhat Performance, Setbacks Or Consolidation?
Despite some recent setbacks, Dogwifhat (WIF) went up by 50% over the past month, hitting a peak of $2.64, though it has since experienced a slight dip. At the time of writing, WIF is trading at $2.55, reflecting a decrease over the last 24 hours.
However, technical analysis reveals that WIF could still have time to grow, as the recent pullback is likely to be a consolidation phase. One positive indicator is the RSI, which suggests WIF may be undervalued.
Trading activity has also grown a lot, which suggests that investors are still interested.
This aligns with Market Prophit data, which shows WIF’s crowd sentiment has risen over the last days, from 0.1565 to 0.1263, an indicator that conversations around the tokens are increasing. On the other hand, Market Prophit sentiment seems bearish.
Looking to WIF’s future, 86.35% of traders are taking long positions on Binance perpetual futures. This indicates widespread confidence in the potential for further gains.
However, even if WIF does reach $3, that’s only a gain of 17%, meaning that new investors or those looking to diversify their portfolio, may wish to turn to newer coins.
Cutoshi’s Journey Of Merging Memes With Utility And Community
Cutoshi (CUTO) is a memecoin and utility-based project, still in development. The team observed the success of memecoins such as WIF, BONK, POPCAT, NEIRO, DOGE, and SHIB, and took note of what had staying power. They also considered their desire to allow more people to get involved with DeFi and crypto.
Cutoshi’s DeFi ecosystem is based on the Chinese Lucky Cat. Rooted in the ideals of Satoshi Nakamoto, the coin combines cuteness with empowering decentralized control of finances. Cutoshi is building a cross-chain DEX and peer-to-peer trading platform and plans to release rare NFTs to early supporters that will provide benefits across the ecosystem.
CUTO will be used to purchase merch and advanced lessons from their Learning Academy, a way to learn about the mechanics of DeFi, from simple concepts all the way to high level.
Community is an important aspect of any meme coin or project, and that’s why, like Shiba Inu, the team wants to create a friendly, safe, and fun place for people to get together online. The group yields farming and quests are designed to reward investors.
Cutoshi has raised over $540,000 so far and is in the second stage of its presale, currently at $0.022, a 46% increase from stage 1, offering a potential of high returns for early investors. CUTO has also been listed on CoinMarketCap in anticipation of its launch.
For more information on the Cutoshi (CUTO) Presale:
https://cutoshi.com/
Join and become a community member:Â
https://twitter.com/CutoshiToken
https://t.me/cutoshi
