Rising from its resistance level around $144 to $156, in a recent price jump, Solana (SOL) coin has apparently adjusted its consolidated position. The native SOL token is now assuming a bullish and stable position, resulting in an increase in network activity.
While this momentum speaks well for Solana and its meme coins, experts think this Ethereum-based meme coin will do more numbers. Known as Cutoshi (CUTO), this upcoming platform is poised to deliver massive returns, especially because of its focus on dominating the DeFi market.
Cutoshi Is The Next Ethereum Meme Coin Poised To Surpass Top Meme Coins
Cutoshi is starting to leave a mark in the presale market as many are beginning to capitalize on its unique approach to the DeFi market. Inspired by the teachings of Bitcoin’s founder— Satoshi Nakamoto, Cutoshi was particularly designed to follow the principles of decentralized privacy, monetary empowerment and anonymity.
The Ethereum-based meme coin was also designed as a tribute to the Chinese Lucky Cat, popularly associated with goodluck, wealth, and progress. However, aside from these core principles and notions, Cutoshi is receiving more attention largely because of its DeFi hub which features a built-in DEX exchange, a staking protocol and a custom NFT marketplace.
Meanwhile, Cutoshi aims to spread the gospel of decentralization by introducing a learning academy once it completes its listing process. More interestingly, the native CUTO token will facilitate all transactions within the Cutoshi ecosystem while doubling as the governance token.
This tokenomics ultimately ensures a sustainable growth model besides the fact that the native CUTO token also adopts a deflationary mechanism that sets it for higher and stable returns in the long term. With a current price of $0.015 in the initial token presale phase, analysts are teasing a 100X price surge post-listing, attributing the validity of their claims to the project’s cross-sectional appeal, especially in the meme coin and DeFi market.
Solana Coin Shows Amazing Comeback With Steady Returns
After settling in a consolidation phase since the start of the month, Solana has picked up pace again by an 8% rise above its resistance level around $144. While this signals as a comeback from lower prices, Solana has generally maintained a steady profit streak this year.
From one low to another high, Solana fought its way through, staying above the crucial $150 price mark. Currently, Solana price movement is very bullish, with a 14% monthly rise that saved it from plunging below $136. With this promising outlook, Solana price is further predicted to hit higher levels as its network activity increases.
Ethereum Token Maintains Above $2,600 Amid Slow Momentum
Although Ethereum’s momentum has been quite slow lately, its native token is still showing signs of recovery this year. Ethereum price plunged below its crucial resistance price of $2,515 at the start of the month, where it reached lower levels around $2,171.
This drop in the price of Ethereum token aligns with the huge liquidation it experienced at the end of August, where over $313 million worth of ETH was liquidated. As the third quarter comes to a close, Ethereum price has continued its recovery journey, following Bitcoin’s monumental rise in the past few days. Now it holds within a weekly range around $2,566 to $2,718, as per CoinMarketCap data.
Can Cutoshi Catch Up with Solana’s Biggest Meme Coin?
The question of whether Cutoshi can catch up with Solana’s biggest meme coin, Dogwifhat (WIF) is determinant on how the meme coin market responds in the next few months. However, generally, Cutohsi has enough potential to surpass Dogwifhat and even top meme coins like Dogecoin due to its vast utility.
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