Meme coin investors have generated enormous wealth from the impressive rallies of Dogecoin and Bonk. However, as the DOGE and BONK prices have slowed, investors are now flocking to the trending Ethereum-based meme coin, Cutoshi (CUTO), which offers a unique blend of meme coins and utility tokens.
Dogecoin (DOGE) Demand Rises: Will It Surge Again?
After the extended downtrend, which started in April 2024, the Dogecoin price began to recover and started an uptrend in September 2024. Since then, Dogecoin has shown an impressive rally, surging a tremendous 380% in the previous three months.
However, in the past few weeks, Dogecoin has lost momentum and the price has consolidated, moving in a tight range. Today, the demand has increased significantly, as indicated by the 140% increase in trading volume and Dogecoin trades at $0.4395 after gaining an impressive 6.3% in the last 24 hours.
Despite the bullish outlook today, Dogecoin has failed to stay above the $0.439 resistance level, which has kept the price from surging for the last three weeks. Another significant resistance level is near $0.466. As Dogecoin corrects, many investors are shifting to the new meme coin in hopes of more steady portfolio growth.
Bonk (BONK): Fast Rally Followed By Fast Decline
Like Dogecoin, Bonk also showed an impressive rally last month and reached a new all-time high (ATH) of $0.00005916 with a massive 200% surge. However, the demand vanished and Bonk traded sideways for a week, taking support at $0.00004778.
Bonk moved below this support level and made a lower high and lower low, marking the end of the uptrend. The price dropped significantly in the previous two weeks and at press time, Bonk trades 27% below the new ATH at $0.00004291. Bonk has immediate support at $0.00003985 and another strong support below this near $0.00003468.
Due to the end of the uptrend, the price has moved below the short-term 10-day and 20-day simple moving averages and the relative strength index has dropped to 54. The MACD oscillator also drops fast toward the zero line, indicating significant bearish momentum.
Cutoshi (CUTO): Challenging Traditional Memecoins With Utility
Unlike Dogecoin (DOGE) and Bonk (BONK), Cutoshi is not just another meme coin but a utility token. It uses the fun meme coin community to aid its mission of spreading DeFi (Decentralized Finance) to the masses. Cutoshi has taken inspiration from Bitcoin and follows Satoshi Nakamoto’s vision for blockchain technology. Through its fun community and practical DeFi ecosystem, Cutoshi aims to promote decentralization, privacy and monetary freedom, helping build an efficient democratized economy.
The Cutoshi ecosystem hosts an inbuilt learning academy through which members can learn complex Web3 and DeFi concepts in a fun way and adapt to decentralization quickly. The academy will deliver free modules that teach newcomers how to start their DeFi journey and transition smoothly to a more secure and private method of managing their finances.
As they adapt to decentralization, members can start earning CUTO with the farming mechanism and compete with over 3,000 other members who are now harvesting CUTO for the top position on the leaderboard. Members get exciting rewards and CUTO points for completing the fun challenges on the quest board. The points collected can be converted to CUTO tokens, which Cutoshi will airdrop to the members after the presale.
The presale has reached stage four and has sold over $1.3 million worth of CUTO. The token presale started at $0.015 per CUTO and reached $0.031, generating over 106% returns for stage one holders. The value will keep surging as the presale progresses to further rounds and earlier investors will benefit more from the snowball effect of the token price surge.
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