Following an extended period of consolidation in the broader crypto market, some cryptocurrencies are finally regaining bullish momentum which have contributed to their price recovery. While Dogecoin (DOGE) falls into this category, the leading meme coin is exhibiting a noticeable sign of recovery with a recent surge in its price.
Meanwhile, a fast-rising presale star, Cutoshi (CUTO) has also been attracting enormous attention in the presale market. Notably, the meme coin’s hybrid platform has become the centre of attraction for many, as it marks a turning point in the meme coin revolution. So what is special about Cutoshi’s hybrid protocol? Let’s find out.
Cutoshi’s Hybrid Protocol Becomes a Center of Attraction; Can It Guarantee Exponential Growth?
One of the major highlights of the Cutoshi ecosystem is its DeFi integration, which expands the presale meme coin’s market reach. Besides prioritizing Satoshi Nakamoto’s blockchain core principles of decentralization, privacy and monetary freedom, Cutoshi is also deeply rooted in culture, taking inspiration from the popular Chinese Lucky Cat.
With this, the hybrid protocol fosters a positive mindset among members as they navigate the ecosystem. Speaking of which, Cutoshi’s DeFi Hub consists of several lucrative features, including a custom DEX platform, a staking protocol, and a farming mechanism that allows participants to engage in different rewarding contests and quests. Additionally, there is also a learning academy aimed at bridging the knowledge gap in DeFi.
Meanwhile, at the centre of all of this operation is the native $CUTO token, which serves as the primary mode of exchange. An interesting attribute of the CUTO token is its buy/back and burn mechanism which drives scarcity and boosts demand. Currently in the second phase of the presale, the CUTO token is sold at a bargain price of $0.022, with the potential for a 20x growth. This bullish outlook has contributed to nearly $500K raised so far.
Dogecoin Resumes Price Recovery Amidst Severe Price Fluctuations
Dogecoin (DOGE) has been stuck within a consolidation phase since it retraced from its monthly high of $0.130. Notably, DOGE price has retraced to a price level below $0.0108 multiple times, with its lowest reach for the month being $0.102 as seen in the chart below. While this bearish outlook wasn’t received well by token holders, there seems to be a resurging optimism once again.
Source: CoinMarketCap
Currently trading within a flat weekly price range of $0.109, DOGE price reflects barely no gain. However, a closer analysis suggests a noticeable recovery from a weekly low price of $0.102 to its weekly’s entry level at $0.109. This sudden boost in DOGE price has reignited what could turn out to be a sustained bull run assuming the momentum persists.
Meanwhile, technical analysis is not exactly in favour of this bullish claim as there is a contrast between a bullish 10-days EMA and a bearish 20, 30, and 200-days EMA. Albeit, a neutral relative strength index (14) leaves room for some progress.
Does Cutoshi Have the Infrastructure to Outperform Dogecoin?
Asides being the largest meme coin with a market capital exceeding $15.8B, Dogecoin is lacking practical utility. In contrast, Cutoshi’s DeFi integration and diverse market appeal gives it an edge in the market. With time, the latter is set for an exponential growth that could push its category ranking ahead of leading meme coins like Dogecoin itself.
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