Cryptocurrency Investors Highlight Cutoshi Token’s Similar Growth Trajectory to Initial Successes of Shiba Inu and Dogecoin

The rise of Dogecoin and Shiba Inu has minted a wave of crypto millionaires; now, the new meme coin Cutoshi seeks to marry community spirit with functional use cases.

The explosive growth of Dogecoin (DOGE) and Shiba Inu (SHIB) has seen a lucky few ride the wave to millionaire status. Among meme coins, a vibrant community is key for driving up a token’s value. Entering the meme coin market can afford investors the chance to reap substantial profits rapidly.

A newcomer to the memecoin scene, Cutoshi (CUTO), is drawing attention for its unique blend of a playful community-oriented approach and practical ecosystem applications. Cutoshi could echo the success stories of Dogecoin and Shiba Inu.

Shiba Inu: Holding steady in triangle consolidation pattern

Starting at a mere $0.000000000056 in 2020, Shiba Inu rewarded its steadfast investors with a staggering 157946000% gain when it reached its peak price of $0.00008845 about a year after its launch. Currently, Shiba Inu’s value hovers around 80% below that peak, maintaining a market capitalization above $10 billion.

Shiba Inu’s price stands at $0.0000186, with a 24-hour surge of over 8%. The trading volume for Shiba Inu has soared by an impressive 200%. Although above the 50-day SMA, Shiba Inu is encountering resistance at the 200-day SMA, a barrier it has not breached for an extended period.

Following a month in a triangular consolidation pattern, SHIB’s price is once again testing the resistance at the upper trendline of the triangle. Shiba Inu has been on an uptrend, with a price climb of over 12% in the past four trading sessions.

Despite this uptick and growing trading interest, SHIB may persist in its tight price range as it encounters significant pushback at higher prices.

Dogecoin: Building momentum for an upward climb

Launched in December 2013 at $0.00026, Dogecoin enjoyed a surge in demand, led by its supportive community, which resulted in an impressive rally. Its all-time high of $0.7376 in May 2021 translated to a more than 283592% gain for early adopters.

Now trading at $0.1682, Dogecoin sits over 75% below its historical high. The market sentiment leans bullish with an intraday escalation of more than 12%. Likewise, Dogecoin’s trading volume has risen by 75% over the past day.

A new uptrend for Dogecoin has been ignited following the breach of a major descent this year. With a recent surge of over 28%, Dogecoin’s bullish pace is evident.

Approaching a key resistance at $0.17578, DOGE players will be watching for potential pullbacks. Should bearish pressure intensify, support levels of $0.14992 and $0.13734 might act as a buffer against further declines.

Cutoshi: The latest memecoin with practical appeal

Inspired by Asian culture, where lucky cat figurines are believed to attract fortune and wealth, Cutoshi translates the charm of these talismans to the blockchain, purporting to share prosperity in digital asset form.

The Cutoshi platform incorporates meme appeal with functional benefits to boost DeFi engagement. Cutoshi fosters a community-driven platform where control rests with the token holders.

At its core, Cutoshi features a multi-chain decentralized exchange, enabling asset swaps across distinct blockchains for minimal fees. This trustless setup promotes enhanced security and user privacy. The CUTO token is integral to the ecosystem, fueling various functionalities within the platform.

The ongoing token presale has successfully advanced into its second phase, with over $600,000 raised in this round alone. Priced currently at $0.022, CUTO’s value is poised to increase as the presale progresses. This positions Cutoshi as a potentially successful entrant in the memecoin market.

To learn more, please visit Cutoshi’s official website, and connect with their community on Twitter and Telegram.