The crypto market is regaining momentum following recent pullback that resulted in a capitalization retracement of about 13% back in August. Specifically, top altcoins like Render (RNDR), Floki (FLOKI) and new entrant, Cutoshi (CUTO) have recorded notable increases.
While Render and Floki price action suggest a relative price increase of about 29% and 14% respectively in the past week, Cutoshi has caught the attention of many with the launch of its token presale and a projection to become the next 100X memecoin, potentially surpassing the likes of Dogecoin, Bonk, and Dogwifhat. But does this claim hold water? Let’s find out.
Cutoshi Token Presale Shows Promises as Analysts Banks on its Revolutionary DeFi Hub
Unlike whatever we have seen in the meme coin market, Cutoshi (CUTO) is out to completely rewrite the existing meme coin narrative. According to its official white paper, the Chinese Lucky Cat inspired meme coin project is set to become more than just a meme coin as in the popular context.
Notably, Cutoshi adopts Satoshi Nakamoto’s ideals that prioritizes decentralization, privacy, and monetary freedom in a widely utilized ecosystem. This simply implies that the project is leaning more towards offering DeFi elements like a multi-chain DEX, and a community-focused farming protocol, than merely just hype.
A closer look at Cutoshi’s DeFi hub reveals a lineup of financial-empowering services like Cutoshi DEX, Cutoshi Farming, and Cutoshi NFTs, with the native $CUTO token serving as the primary currency to facilitate all transactions within the community-driven ecosystem.
Meanwhile, unlike Floki that started out without a primary focus, Cutoshi’s combination of fun memecoin with the utility and functionality of a serious DeFi ecosystem makes it an appealing choice for a diverse group of holders, especially now that it is selling at a modest price of $0.015 in the initial presake phase. With the memecoin market cap growing significantly by 169% to reach $60 billion in Q1, Cutoshi’s DeFi integration not only set it apart from its peers but also positionsit for increased adoption.
Render Price Surges by 30% After Trading Below $5
Like most top altcoins, Render (RNDR) has also faced major retracement over the past month, hitting a monthly low of $4.5 before the recent price surge pushed it back above the $6 price mark. Currently trading within a weekly price range of $4.69 and $6.09, the native RNDR token price movement reflects a price increase of 29% in the past week and a little above 30% in the past month.
Meanwhile, Render news further reveals that there has been an increase in community engagement following the project’s recent sponsorship announcement. According to its official X page, Render is sponsoring 3DModels_team’s 2024 #CarRenderChallenge which is set to award winning creators with free RNDR tokens. This recent development, coupled with growing adoption is expected to keep Render price afloat in the foreseeable future.
Floki Network Announces Corporate Partnership in New Marketing Effort
Floki (FLOKI), like several utility meme coins, is not stopping at anything to ensure that it reaches a wider audience. Just recently, Floki announced a partnership with Alliance as their Official Web3 Gaming Partner.
In particular, Valhalla, Floki’s flagship play-to-earn MMORPG will now have exposure to Alliance’s massive fan base of over 7 million dedicated followers who will now be able to play the game across Alliance’s digital platforms and live streams.
Can Cutoshi Yield More Gain than Floki?
Although Floki Network has gained a substantial market share based on its collaborative effort, Cutoshi’s DeFi integration exposes it to a broader audience. In the long run, Cutoshi’s ability to attract a diverse audience will get it further than Floki token and most niched top altcoins like Render.
For more information on the Cutoshi (CUTO) Presale:
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https://twitter.com/CutoshiToken
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