Crypto traders say Cutoshi token mirrors the early success of Shiba Inu and Dogecoin
The post Crypto traders say Cutoshi token mirrors the early success of Shiba Inu and Dogecoin appeared on BitcoinEthereumNews.com.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Dogecoin and Shiba Inu rallies created crypto millionaires; now, new meme coin Cutoshi blends community with utility. The massive returns of Dogecoin (DOGE) and Shiba Inu (SHIB) rallies have made many crypto millionaires. For a meme coin, a strong community is crucial to boosting the token’s valuation. Investing in meme coins provides traders with many opportunities to make huge profits quickly. Recently, a new memecoin, Cutoshi (CUTO), has been gaining popularity for its hybrid nature of a fun community and a practical ecosystem. Cutoshi could be the next token to replicate the performance of Dogecoin and Shiba Inu. Shiba Inu: Continues triangular consolidation Launched at $0.000000000056 in 2020, Shiba Inu generated an enormous 157946000% return for investors who held the token until the All-time High (ATH) of $0.00008845, made around one year after its inception. Shiba Inu trades almost 80% below the ATH with a market cap of over $10 billion. Shiba Inu trades at $0.0000186 after increasing by over 8% in the last 24 hours. The daily trading volume for Shiba has also surged by a whopping 200%. Shiba Inu trades above the 50-day SMA but is facing rejection again from the 200-day SMA, which it has been unable to break above for a long time. SHIB has been moving in a triangular consolidation pattern for over a month. Today, the Shiba Inu price again tests the triangle’s upper trendline. Shiba Inu has been performing well recently, with the price increasing over 12% in the last four trading sessions. However, SHIB will likely continue the consolidated price action as it faces considerable rejection despite the increased demand indicated by the volume. Dogecoin: Gaining momentum in uptrend At its…
Filed under: News - @ November 3, 2024 3:24 pm