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As ‘Uptober’ nears, investors are pivoting from Shiba Inu and Floki to the promising Cutoshi, which is gaining traction and could rival major tokens.
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As the much-anticipated ‘Uptober’ approaches, crypto enthusiasts are moving their positions, betting big on established assets like Floki and Shiba Inu. As per IntoTheBlock data, 430.63 trillion SHIB are held at an estimated price range of $0.000018 by 49,080 addresses. On the other hand, Floki has surpassed its overhead trendline.
Meanwhile, a surprising trend is catching attention―investors flocking to Cutoshi (CUTO), a promising token rapidly gaining momentum in the market. As Shiba Inu and Floki holders shift part of their focus to this fast-selling presale star, the question arises: could Cutoshi be the next altcoin to explode in value?
Cutoshi operates as a hybrid exchange protocol with huge potential
Cutoshi distinguishes itself from other meme coins with its utility and real world use case. The hybrid altcoin adopts the core principles of Satoshi Nakamoto, like privacy, decentralization, and monetary freedom. These principles and the cultural theme that the Chinese Lucky Cat inspires, make Cutoshi stand out from its peers.
Notably, Cutoshi introduces an ecosystem with superior features, including a multichain DEX, which allows users to trade cryptos across multiple chains. Cutoshi farming, which allows users to earn. Users will participate in challenges and quests to earn points that can be redeemed for more CUTO tokens. It also has a learning academy to bridge the knowledge gap in cryptocurrency and DeFi.
What’s more interesting is that Cutoshi has a deflationary mechanism that drives scarcity and boosts demand. At stage 2 presale, CUTO tokens are sold $0.022, a 46% ROI from its initial offering of $0.015.
With solid fundamentals that have set Cutoshi’s path to sustainability, experts have forecasted that this promising token could be the next Shiba Inu rival with a potential for 100x growth.
430 trillion SHIB price cluster: What’s next for Shiba Inu?
According to on-chain data, Shiba Inu has witnessed a massive price cluster holding around 430 trillion SHIB tokens. These tokens are held between $0.000017 and $0.000019, with an average price of $0.000018 by 49,080 addresses. While the price of Shiba Inu consolidates around this key range, SHIB bulls are contemplating their next moves.
Typically, with many SHIB tokens locked around this price range, the price could see a breakout or continue to move sideways. The 430 trillion Shiba Inu tokens held at this particular range have formed a tight zone of support and resistance, which could potentially stabilize the price or trigger volatility.
If Shiba Inu manages to push the price of SHIB above this cluster with massive volume, a breakout will occur. This will foster a buying frenzy, leading to a sharp price increase. Such a bullish scenario will entice retail traders and increase momentum. As such, Shiba Inu’s price will face significant resistance at $0.000019 and $0.000024, where roughly 96.98 trillion SHIB tokens are being held by 95,440 addresses.
Floki’s price green on charts: Will it maintain this momentum?
Floki is another popular meme coin experiencing bullish sentiments. After recording a bullish breakout representing a falling channel pattern, the price of Floki has surpassed its overhead trendline. However, this breakout failed to gain momentum, resulting in a sideways trend.
The sideways trend in the price of Floki has failed to push above its 50D and 200D EMA, which is below the $0.00014 mark. Based on its technical indicators, the impending breakout rally would need to surpass the $0.00017 mark for Floki’s price to record a decisive uptrend.
Therefore, Floki’s overhead resistance level could be around the $0.00021 and $0.00032 price range. If the Solana-based meme coin can maintain this momentum and push above this price range, it will further break out to new highs, potentially recording a new all-time high.
How long before Cutoshi surpasses popular meme coins?
Some signs show that it might not take too long for Cutoshi to surpass other meme tokens. Considering these other meme tokens’ have dominated in the market for years, Cutoshi already has massive interest from the crypto community, and mass adoption of its token will continue to grow when its DeFi ecosystem is launched.
To learn more about the Cutoshi presale, visit the website: https://cutoshi.com/
Join and become a community member: https://twitter.com/CutoshiToken, https://t.me/cutoshi
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This article first appeared at crypto.news
