Market data shows that the Shiba Inu token burn rate has dropped by 90% in the past 24 hours as the meme coin is stuck in an extended consolidation phase. According to data from the on-chain tracking platform CryptoQuant, whales sold over 621B SHIB tokens from crypto exchanges in the past few days as investors diversified to Cutoshi.
The Cutoshi project, which is in the nascent stage, has continued to attract investors because of its strong road map. Inspired by the traditional Chinese Lucky Cat and Satoshi Nakamoto’s teachings, Let’s see why.
Cutoshi’s Stage 1 Presale Success Draws Shiba Inu Investors
With the crypto market tilting towards the bulls, Cutoshi is one of the Ethereum-based meme coins to watch out for in the coming months. This is a well-thought-out project that aims to champion monetary freedom, decentralization, and privacy. Also, Cutoshi will increase DeFi participation via memes on the innovative Cutoshi ecosystem.
At the core of the Cutoshi projects are tools such as Cutoshi Merch, Cutoshi Farming, Cutoshi Academy, and Cutoshi NFTs. These are vital decentralized finance tools that allow users to take control of their future. In essence, the goal of Cutoshi is to build a system where decision-making powers rest in the hands of the users which is the original vision of Satoshi Nakamoto.
Meanwhile, at the center of the Cutoshi ecosystem is the $CUTO token. It is a utility coin that serves as a medium for conducting all transactions on the platform. The token is available at $0.015.
With the rising popularity of meme coins, CUTO could become the next 100x Ethereum-based meme coin. The project is already attracting Shiba Inu investors, with analysts optimistic of a 200% surge when it is listed on CEX exchanges.
Analyst Tip Shiba Inu For Global Growth Soon
Shiba Inu (SHIB), like most meme coins, has continued to show resilience. It is ranked 13th based on market capitalization. Moreover, Shiba Inu trading volume has soared by 41% as per Coinmarketcap, which shows investors’ confidence in the coin.
As per Shiba Inu’s technical analysis, Shiba Inu coin recorded 15 green days in the past month, which is a fair performance. Also, the Shiba token is trading far above the 50-day SMA and a bit below the 200-day SMA. The 14-day RSI of Shiba is flashing a buy now signal
Meanwhile, Shiba Inu Year-to-date metrics show an increase of 102%. Even at this, the overall market sentiment remains neutral. However, Coincodex Shiba Inu price prediction indicates the coin could plummet by 0.02% by next month.
For Crypto Dream, a professional crypto trader, this is unlikely. He is preaching patience as he sees global growth for Shiba. He thinks there will be a test of the peak of 2021 when the Shiba inu coin reaches $0.00008618 in October.
Which Meme Coins Are Worth Adding to Your Wallet Today?
There is more to crypto investment than just buying coins, one has to be sure of its potential. Cutoshi and Shiba Inu could be great choices for investors who want to multiply their ROI in 2024.
For more information on the Cutoshi (CUTO) Presale:
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