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Dogwifhat leads Solana’s meme coin scene, while new rival Cutoshi on Ethereum aims to combine fun with utility.
The new Ethereum-based meme coin, Cutoshi (CUTO), is gaining popularity as WIF’s rival. It is a utility meme coin made not just for fun but with a serious purpose. Let’s see what this new token offers other than a fun meme community.
Dogwifhat remains top Solana meme coin
Dogwifhat (WIF) leads the Solana meme coins with a market cap of over $2.3 billion. The current market price for Dogwifhat is $2.36 after a 6% drop in 24 hours. The volume has also seen a significant intraday decline of over 16%.
Dogwifhat trades 50% below its all-time high of $4.85, which it reached in March. Despite the struggling broader market, Dogwifhat has performed relatively well. It has been in a short-term uptrend, making higher highs and higher lows.
Dogwifhat trades above its 20-day and 50-day Simple Moving Averages (SMA). The MACD is crossing the signal line to go below it, showing increasing bearish pressure. The RSI has also dropped to 58, moving away from the overbought region.
For Dogwifhat, key support lies at $2.1943 and another at $1.9833. $2.6232 is an immediate resistance level. If the price breaks above this, another resistance level lies at the $2.8871 price mark.
Cutoshi: Ethereum based Dogwifhat rival
Unlike Dogwifhat, which has limited practical use, Cutoshi is an Ethereum-based utility meme coin. With a fully decentralized ecosystem, Cutoshi provides users with various DeFi features through CUTO, its native token.
Cutoshi is inspired by the Chinese and Japanese tradition of keeping Maneki-Neko (The Lucky Cat) in their homes. Cutoshi has brought the Lucky Cat to the blockchain. The Lucky Cat is known for its powers of bringing luck and prosperity to the owner.
It also takes inspiration from Satoshi Nakamoto’s ideals and resonates with his vision for decentralization, privacy, and monetary freedom. Cutoshi is not just a meme coin but a utility token with the serious purpose of bringing DeFi to the masses.
The Cutoshi DEX is a multi-chain exchange that allows users to swap assets across chains. This simplifies the swapping process and saves users time and money. It also increases privacy and security by removing third parties and allowing peer-to-peer trading.
The Cutoshi Academy educates newcomers and reduces the knowledge gap, thus promoting mass adoption of DeFi and blockchain. The content will be fun, easily understandable, and, for the most part, available for free to increase participation.
The CUTO token is currently priced at $0.022 at stage two of the presale. The early investors who purchased in stage one at $0.015 a few days ago have already gained 46.66% on their investments. The listing price is expected to be $0.6, giving a staggering 2627.27% return to the investors participating in it at the second stage.
To learn more about Cutoshi, visit the official website. Interested users can join and become a community member on Twitter and Telegram.
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