Solana has seen an impressive year, and indications show that it could go even higher. Because memecoins are on the rise again, whales are accumulating SOL. However, they are also looking at another token, Cutoshi, which has the potential to hit $1 soon.
Solana Brushes Off Setbacks in an Impressive Year
Despite several setbacks, the high-performance blockchain Solana (SOL) has seen impressive growth this year. After collapsing to all-time lows amid the FTX bankruptcy, Solana managed to recover. As FTX was a major investor in Solana, traders at the time lost confidence. However, Solana managed to prove it was strong enough to stand on its own.
Another major issue in the past year was the frequent outages. The entire Solana network was down multiple times last year, causing major concerns. For one, these network-wide outages suggested centralization issues. However, even as these outages were happening, traders were confident that Solana would bounce back. And it did.
Around March, Solana started seeing explosive growth. Contributing to this were several major developments, including the announcement of Saga Two by Solana Mobile. But a larger part was the rise in memecoins at the time. Multiple Solana memecoins, including BONK and DogWifHat, saw explosive growth, driving Solana traffic.
This propelled Solana to its yearly growth of 717.94%, impressive for a token that big. While memecoins have since started slowing down, there’s likely another rally on the horizon. This is why whales are betting on SOL once again.
Cutoshi Eyes $1 After Explosive Presale
While the memecoin rally will benefit Solana, it will have an even stronger effect on one other token. Cutoshi (CUTO) is the memecoin that could see the strongest gains in the coming months, reaching $1.
This cute memecoin has the Chinese lucky cat as its mascot. Now, the lucky cat is on the blockchain, bringing luck and prosperity to your portfolio. More importantly, it is a deflationary coin with actual utility and plans for an entire DeFi ecosystem.
Taking inspiration from Bitcoin’s creator Satoshi, Cutoshi wants to build a community that is free and decentralized. It will feature a multichain DEX, with low fees and no restrictions for traders. The revenue from this DEX will also go towards token burns, making Cutoshi deflationary.
Because Cutoshi is an Ethereum-based token, it has an advantage over Solana memecoins. This is because Solana is currently overrun by low-effort projects that fail to pick up. For that reason, ERC-20 tokens are still the gold standard for memecoins.
Currently selling at a presale price of $0.015, Cutoshi is an amazing opportunity for traders. With a fixed supply of just 440,000,000 tokens, Cutoshi is in a great position to go to $1 very soon. For that to happen, Cutoshi would only have to break the first 150 tokens by market cap. Its strong DeFi vision makes this completely possible. A market rally, as well as its deflationary nature, increases the odds of this even more.
For more information on the Cutoshi (CUTO) Presale:
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https://twitter.com/CutoshiToken
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