The post Shiba Inu Price Prediction: Why Analysts Believe Cutoshi (CUTO) Will Hit 100X Before SHIB appeared on BitcoinEthereumNews.com.

October is expected to be a bullish month for the crypto market, especially for meme coins. As the month began, two meme coins emerged as market leaders – Shiba Inu and Cutoshi. While Shiba Inu is a veteran in the industry, Cutoshi is a newly launched utility meme coin project that has gained popularity. Analysts believe that its one-of-a-kind business plan makes it the next Dogecoin rival. This article explores the reasons why CUTO is expected to outperform SHIB. Shiba Inu Holders Hope For Further Rise The overall market sentiment is optimistic, and investors believe Shiba Inu can continue its positive run. The belief arises from the recent price rise of SHIB. In the past 30 days, Shiba Inu has jumped by 29%. At the time of writing it is up by 10%, and is trading at $0.000017. The price surge has helped Shiba Inu holders make profits. As per data from IntoTheBlock, more than 53% of SHIB holders are in the money, while 44% are making losses. The data also revealed that over 79% of Shiba Inu investors have held this meme coin for over a year. Investors are hopeful about the long-term profitability of Shiba Inu. However, rising geopolitical tensions negatively affect the overall market sentiments, which also worries SHIB investors. Large investors are aggressively buying to defend the support level of $0.000015 for Shiba Inu. Besides, a negative trend on 50, 100, and 200-day EMAs indicates a bearish pressure. Cutoshi Presale Makes Market Bullish In the first quarter of 2024, the market capitalization of meme coins grew by a whopping 169%. However, many investors consider meme coins unstable due to their high volatility and reliance on hype, without real-world utility. Cutoshi is a utility meme coin that offers features of DeFi. Its multi-chain decentralized exchange (DEX helps…

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Filed under: News - @ October 8, 2024 5:25 am