21 hours ago
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Shiba Inu and Dogecoin have undergone significant corrections after their tremendous rally and are struggling to regain momentum. Meanwhile, the trending utility meme coin Cutoshi (CUTO) is gaining momentum in presale and is expected to surpass SHIB and DOGE in 2025 to reach $1 and become the leading meme coin.
Will Shiba Inu (SHIB) Regain Demand From 100-day SMA?
During the recent rally, Shiba Inu broke out of the resistance of its month-long sideways congestion, and the price surged over 80% within a week to the $0.00003044 price level. However, the surge halted here as the price encountered bearish pressure, which caused Shiba Inu to drop over 20% to the $0.00002340 support level.
Shiba Inu consolidated between this support and the $0.00002621 price level for the next two weeks, after which it again surged and encountered a crucial trendline when it reached $0.000033. Shiba Inu lost demand, and the price was corrected from this trendline to the 100-day SMA.
The Shiba Inu price has been consolidated for the previous two weeks, close to the 100-day SMA, and currently trades at $0.00002276. Today, demand has increased, indicated by a 30% increment in trading volume. Additionally, the MACD oscillator indicated increasing bullish sentiment by moving above the signal line, implying a potential trend reversal if substantial demand returns.
Dogecoin (DOGE) Continues In Consolidated Price Action
In November 2024, the Dogecoin price, which had been steadily rising in an uptrend, received a massive boost due to the broader market turning bullish. This led Dogecoin to break out of the uptrend's upper trendline to undergo a 200%+ rally.
However, demand dropped as the price reached $0.44, and Dogecoin entered a rising wedge pattern due to the reduced upward momentum. Dogecoin traded in this wedge for over three weeks, but due to increased bearish pressure, the price fell below the lower trendline and continued to consolidate above the $0.392 support level for a week.
Dogecoin again plunged from this support level to the $0.2995 support level. It has been two weeks since then, and the price has been stuck in the $0.30-$0.34 range. At press time, Dogecoin trades at $0.338 after a 1.74% increase in the last 24 hours. Since Dogecoin has lost demand and is consolidating, the in-demand presale token Cutoshi (CUTO) has the potential to reach the $1 mark before the leader of meme coins.
Cutoshi (CUTO): Hybrid ERC-20 Token Rivals DOGE
Cutoshi is the viral hybrid altcoin that combines the practical, real-world benefits of utility tokens with the fun of a meme coin community to challenge top meme coins head-on. Since it offers the best of both worlds, Cutoshi offers sustained and long-term growth compared to Dogecoin and Shiba Inu.
The project is inspired by Satoshi Nakamoto’s vision for blockchain technology and promotes a secure, private, and efficient decentralized economy. It also takes inspiration from the Chinese Lucky Cat, which, according to Chinese and Japanese folklore, is known for its power to bring good luck and prosperity to its owners.
By combining these characteristics, Cutoshi has designed a memeFi ecosystem that appeals to both meme coin fans and DeFi enthusiasts. At the core of this ecosystem is the Cutoshi DEX, a cross-chain interoperable decentralized exchange where community members can swap their digital assets across multiple blockchains at unmatched speeds and for minimal fees.
The native token, CUTO, is a crucial ecosystem element that powers the entire platform. Token holders can access unique features, such as the Cutoshi NFTs, and are eligible for special discounts at the Cutoshi merch shop. Community members can acquire CUTO by participating in token farming and competing against over 3,700 other members.
The token can also be obtained at the presale, which offers it at $0.031 per CUTO in stage four. So far, the presale has raised $1.47 million and generated a 109% return for stage one investors. New investors will also make similar returns as the presale has a long way to go before the token lists on popular exchanges.
For more information on the Cutoshi (CUTO) Presale:
Join and become a community member:
https://twitter.com/CutoshiToken
Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
