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As the crypto market gears up for a bullish October, traders are eyeing Cutoshi as a promising alternative while Cardano struggles to regain momentum.
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With the crypto market heading toward its bullish phase in October, crypto traders and enthusiasts are looking for alternative coins that give good returns. However, not all tokens perform the same way. Cardano, the favorite in the market, still needs some time to stabilize its performance.
Cutoshi, a new name in the market, is catching everyone’s attention. Analysts and word on the street say it might be the next big thing, and every investor is waiting for it to pump by the end of 2024.
Cardano: From star to struggling performer
Cardano is a third-generation blockchain project launched in September 2017 by Ethereum co-founder Charles Hoskinson. It was designed to solve issues of scalability and sustainability of networks like Bitcoin and Ethereum. Cardano’s current market cap is more than $12b.
Cardano has been trading below its 200-SMA for a long time. It has dropped nearly 54.4% from its ATH-$0.774 of 2024, with its current price being $0.3555. After facing rejection at the $0.359 level, it dropped almost 16% and took support at $0.34, but it recovered around 10%, forming three green candles in the last three days.
The next crucial support and resistance levels are $0.33 and $0.4, respectively. Volume has decreased by almost 13% in the last 24 hours, but with an RSI of nearly 50, we still need to be in the oversold area.
Cardano’s performance hasn’t been good recently. Analysts and investors cannot predict the next move and have started looking for altcoins in the market that give good returns. They believe that the token can have a positive future. With the market in a bullish phase, we can expect Cardano to have a stable performance by the end of Q4.
Cutoshi: A lucky utility token attracting institutional investors
With many meme coins struggling in the high volatility market conditions, Cutoshi brings freedom, privacy, and decentralization by creating an ecosystem driven by the community where the power for decision-making and control is in the hands of its users. It follows the path of founder Satoshi Nakamoto, who had the same vision for blockchain.
CUTO is a utility token of the Cutoshi ecosystem. This ecosystem offers tools like self-custodial DEX, where users don’t have to go through a long KYC process, and a learning platform to spread knowledge about cryptocurrencies,web3, and DeFi to its community.
Cutoshi is launching its merchandise, including bags, mugs, and tech gear. This will help users carry the Lucky Cat to bring luck and prosperity. This will help the community grow together and bring unity within it.
Cutoshi’s impressive stage one presale raised around $300k. It is currently in stage two of the presale, priced at $0.22. Analysts and crypto traders predict it will reach a valuation of $0.8 by December this year.
To learn more about the Cutoshi presale, visit: 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
