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Solana struggles against resistance, but analysts are optimistic. Meanwhile, Cutoshi’s DeFi platform attracts many eager investors.
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Solana (SOL) has been battling strong resistance, but analysts are bullish and anticipating a major surge in the upcoming weeks.
Meanwhile, Cutoshi (CUTO), a new player in the meme coin niche, is taking the space by storm with its unique DeFi platform. Many Solana investors are flocking to the CUTO presale as this project bears all the marks of a 100x gem in the making.
Is solana ready for a breakout?
Over the last few weeks, Solana has been struggling to reclaim $160. However, selling pressure appears to be easing off. Solana has been consolidating around the $155 mark, and all it needs is a little push to regain momentum. Today, Solana sells for $152 with a 2.3% intraday decrease and just over $2 billion worth of SOL traded in the last 24 hours.
Solana has played a protagonist role since the start of the cycle in late 2023, but as market turbulence intensified, it saw a significant portion of its value wiped out. While analysts believe that Solana could reclaim $200 before the end of 2024, a major bearish catalyst could be looming.
An FTX-related wallet recently unstaked 178k SOL tokens worth approximately $28m, sparking fears of an imminent sell-off. Now, these tokens need to be redistributed to the many creditors who were hurt during the FTX collapse. However, this could inject a massive dose of volatility into the market and stunt Solana’s otherwise stable price action.
Cutoshi is raising the bar for meme coins
Cutoshi draws inspiration from the Lucky Cats present in Chinese and Japanese tradition. These cats are said to bring good fortune to businesses and households. Meanwhile, Cutoshi aims to bring good fortune to the blockchain and its rapidly growing community.
Cutoshi unites memes and DeFi into a holistic ecosystem that empowers and rewards users. CUTO DEX is Cutoshi’s flagship feature: a state-of-the-art decentralized exchange offering lightning-fast cross-chain transactions. For just 0.25% in transaction fees, users can seamlessly trade across blockchains with minimal slippage.
Cutoshi incentivizes users to engage with the platform via the Cutoshi Farming mechanism. Users who stake the CUTO token or provide liquidity will earn recurring rewards. On top of that, during and after the presale, individuals will have the opportunity to participate in special events and complete various tasks in exchange for points that can be redeemed for CUTO tokens.
One of Cutoshi’s most interesting features is the Cutoshi Academy. A learning platform that will help newcomers navigate the DeFi space and assist them on their crypto journey. This initiative will also help spread the word about CUTO, organically growing the user base.
Stage 2 of the CUTO presale is selling out fast and the token is priced at just $0.022. Investors who take action today will reap incredible benefits once CUTO is listed on major exchanges, as a legendary 100x moonshot could be on the cards when the bull market is in full swing.
For more information, visit the official CUTO website or join the community on X and Telegram.
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This article first appeared at crypto.news
