1 month ago
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As Q4 unfolds, Cardano and Shiba Inu showcase a slow market trajectory. However, given their use case and popularity, experts project a significant uptrend to $1. Amid this speculation, Cutoshi enters the crypto market with a lot of promise. By infusing DeFi functionalities into a meme-inspired token, Cuoshi will redefine the meme coin market as we know it.
Its presale has already raised over $310K as investors continue to join this promising platform. Moreover, with high demand for its native token, crypto enthusiasts wonder if Cutoshi will reach $1 before Shiba Inu and Cardano.
Can Cutoshi Reach $1 Before Cardano And Shiba Inu?
In an era where innovation and use cases are certified proof of a project’s long-term success, creating a utility-backed ecosystem in the crypto market has become crucial. Unlike varieties of meme tokens that rely on community support and hype, Cutoshi has combined these two aspects with practical utility. Inspired by the Chinese Lucky Cat, Cutoshi can be described as the luckiest meme coin that wants to bring good fortunes into the blockchain.
Its ecosystem is rated among the best in the DeFi market, with superior features and tools like the multichain DEX, which enable seamless cross-chain asset swapping. Cutoshi also has a farming protocol, NFT, Merch and a learning academy that would help users learn DeFi concepts and how to make smart portfolios. In so doing, Cutoshi will create an informed user base that will ensure the platform’s long-term success.
What’s more interesting is that CUTO is a deflationary token― meaning that its ecosystem lowers circulating supply through a burn event. This, coupled with a total supply capped at 440 million, will trigger continuous scarcity in the ecosystem, propelling the demand for the token. High demand will further intensify buying pressures, ultimately increasing the value of CUTO. With strong fundamentals, ambitious tokenomics, and higher growth potential, Cutoshi can reach $1 before ADA and SHIB.
Cardano Altcoin Under SEC Scrutiny
With multiple setbacks for Cardano (ADA), many investors are reevaluating their holdings. Once a promising cryptocurrency, Cardano is under scrutiny from the US SEC. The regulatory watchdog has labeled Cardano as security in lawsuits against Crypto.com, Binance, and Coinbase. The bearish ADA news has triggered more sell-off pressures in the Cardano ecosystem.
Alongside this, the price of Cardano developed bearish momentum towards the end of September. Cardano bulls have struggled to push the price above the $0.41 mark. Since then, the price of Cardano has been dropping from $0.39 to $0.35, which is roughly a 15% decline in the past week. Despite this, Cardano’s market sentiments are bullish, with its technical indicators suggesting that the altcoin is performing better than its previous cycle at the exact stage.
Source: Tradingview
Cardano’s price is roughly 88% from its ATH, which reflects a stronger position than the previous cycle, which crashed by 98.54%. Moreover, Cardano’s on-chain activities have seen a resurgence of whale activities. Data from IntoTheBlock highlight large holders’ transactions count bouncing between 4000 to 2300. This indicates a cautious market sentiment with a wait-and-see approach
Shiba Inu Technical Analysis
Shiba Inu price movements have signaled solid bullish momentum, as indicated by its technical indicators and chart patterns. At the moment, the price of Shiba Inu stands at $0.0000171 following a 20% surge in the past week, reflecting a strong bullish sentiment. The RSI reading of 63.11 indicates that SHIB could be reaching an overbought region. However, there is room for further rallies before hitting critical exhaustion points.
Its key support level is around $0.00001600, a region that was previously a solid base during the Shiba Inu price dip. Additionally, Shiba Inu’s second support level is around the $0.00001528 mark, which is a longer-term support that aligns with its September lows and the Chande Kroll Stop (CKS) line. On its resistance side, the primary watch level is around $0.00002028, which represents a psychological barrier.
Source: Tradingview
If the price of SHIB were to break this level, it could further indicate a leg-up in bullish sentiments, potentially targeting the second resistance level of $0.00002200. Its RSI proximity to the overbought region and the bullish crossover of the CKS highlight Shiba Inu’s price will see upside potential.
Which Altcoin Could Make The Most Returns?
Cardano and Shiba Inu whales have found an opportunity to make lucrative returns on Cutoshi, a fast-selling presale gem on the Ethereum Blockchain. Investors who buy CUTO earlier will have a chance to capitalize on it before its price soars.
For more information on the Cutoshi (CUTO) Presale:
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https://twitter.com/CutoshiToken
Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the viewsof Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
