Crypto markets are volatile and unpredictable, with tokens changing positions all the time. Recently, one viral meme coin, Cutoshi, has been gaining attention for its viral potential and utility. This led traders to ask whether Cutoshi could outpace established tokens like XRP and Bonk.
XRP Sees Mixed Performance
Major institutional crypto Ripple (XRP) has seen underwhelming performance recently. Despite the major crypto market boom last year, XRP rose just 13.41% year over year. During the last month, XRP actually lost value, shedding 6.76% after reaching a monthly high of $0.67.
At the current rate, it is questionable whether XRP can reach its all-time high of $3.84 any time soon. Since it traded at that level in 2018, XRP lost 85.59% of its value, largely due to major token sales. To fund the development and its lawsuit with the SEC, the XRP team has sold billions in crypto tokens over the years. This put a major pressure on its price.
Despite its decline, XRP is still a major player in crypto. With a total market capitalization of $31.29B, XRP is ranked 7th on CoinMarketCap. This makes it one of the major heavyweights in the crypto industry, with many traders still putting their trust in the token.
BONK Sees Slowing Growth
Meme coin Bonk has been on the upside recently, despite slowing growth. Recently, Bonk saw a 34.24% price increase over the last thirty days, riding the broader meme coin wave last month.
Despite this recent uptick, Bonk has seen slow growth. The token is down 50.44% from its all-time high of $0.00004704 in March. This decline was contrasted by some other Solana meme coins, including Popcat. The reason for this might be market saturation.
Currently, Bonk is the second-biggest memecoin on Solana, trailing only DogWifHat. With a market cap of $1.72 billion, Bonk holds 52th rank among all crypto assets on CoinMarketCap. Its fundamentals are solid, as it has more than 700,000 holders.
The token also hopes to integrate utility, focusing on cross-chain bridges and expanding to major exchanges. Still, traders who missed out on Bonk’s early 100x growth are now looking for other opportunities.
Can Cutoshi Surpass BONK And XRP?
One of the tokens traders are looking at is the new viral sensation Cutoshi (CUTO). This token, like BONK, blends the viral nature of memecoins with the utility of DeFi. This combination has the major potential to put Cutoshi on the map.
This meme coin is a combination of the Chinese Lucky Cat character and the legendary Bitcoin creator Satoshi. Following in Satoshi’s footsteps, CUTO is building a complete DeFi ecosystem to further privacy and decentralization for traders. The ecosystem will have multichain DEX, token farming, NFTs, a learning platform, and much more.
Tokenomics is another strong side of Cutoshi. The token has a low fixed supply of 440 million, and a deflationary mechanism tied to its DEX. Notably, a portion of the DEX revenue will be used to buy and burn CUTO tokens, helping boost its price and valuation.
While it is difficult to say whether Cutoshi can one day replace XRP and BONK, it is clear that it has major potential. This token could give its holders 100x without even reaching the top 100 biggest tokens.
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