The Ethereum network’s latest addition, Cutoshi (CUTO), is drawing enormous attention largely because of its decentralized multi chain ecosystem. This project wouldn’t be so special assuming it wasn’t anything close to a meme coin.
While it blends elements of meme coin and decentralized finance (DeFi), the Cutoshi project is set to introduce a fresh perspective of meme-themed cryptocurrency. This exciting theory coupled with the lucrative DeFi Hub has drawn the attention of many investors, including Solana Whales, especially as the native SOL token navigates stalling progression.
Cutoshi Sets New Standard for Meme Coin, Attracts Diverse Investors
Asides from its DeFi integration, which by the way is a major upgrade for a meme coin, Cutoshi (CUTO) is still big on cultural themes which is how it is able to maintain its meme coin status.In particular, the meme coin project draws inspiration from the popular Chinese Lucky Cat known for its cultural association with good luck, wealth, and progress.
This cultural element coupled with the infusion of DeFi elements positions Cutoshi as a standout among its peers. Speaking of which, Cutoshi DeFi Hub features different community-focused applications including a decentralized exchange that facilitates the swapping and trading of multiple cryptocurrencies alongside a staking protocol.
Additionally, there is a farming mechanism that allows users to earn different tokenized rewards such as the native CUTO token and even NFTs when they engage in specific quests or community challenges. Moreso, considering its community-oriented approach, the Cutoshi Ecosystem plans to introduce a learning academy that will help facilitate the widespread adoption of decentralized finance while eliminating financial illiteracy.
Meanwhile, all of these various activities will be powered by the native $CUTO token, which also doubles as the governing token of the Cutoshi ecosystem. At a current price of $0.015 in the initial stage of its presale, market analysts are projecting a 100x rally post-launch, thereby ranking it among the best crypto to buy now.
Solana Hits Major Resistance above the $161 Price Level, Risks Further Decline
Solana (SOL) recently took a hit following a brief market retracement, and now trades within a weekly price range of $147 and $145. Earlier in the week, the native SOL token was trading above the $161 price level, a move that gave investors an idea that the cryptocurrency was aiming to retest its 5-months ATH of $205.
However, in a twist of event, SOL price declined drastically by roughly 15% from its weekly peak to currently trade below the $145 price mark. While the broader market faces uncertainty in the next price movement, some savvy investors are turning towards presale stars like Cutoshi.
Meanwhile, Solana news suggests that the bears are still in control, and if they hold the whim any longer, SOL price may hit new lows, potentially hitting the next support level slightly below the $130 price mark. If the bears let go, on the other hand, Solana price could potentially break past the $161 resistance level and approach the $180 price mark again.
Is Cutoshi a Worthy Choice for Solana Whales?
Cutoshi is a fresh attempt to redefine what meme coins should look like. While it exists on the Ethereum network, its ability to thrive in a diverse market makes it an appealing choice for any category of investors. Meanwhile, considering Solana’s exposure to high market volatility lately, same as most top altcoins, Cutoshi’s presale offers more leverage, especially for long term investors.
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