Dogecoin (DOGE) holders could soon receive the holiday gift they’ve been waiting for. Dogecoin’s consolidation phase seems to be drawing to a close and the coveted $1 target could soon become reality.
Meanwhile, many DOGE investors have started rotating a portion of their profits into undervalued meme coins that could mimic Dogecoin’s price multipliers of the past cycles.
One such gem could be Cutoshi, as its viral presale has already raised $1.28 million. Hundreds of buyers are rushing to get an allocation before the $CUTO token hits the markets.
Dogecoin Is Teasing A Breakout, $0.50 Incoming?
After peaking at $0.47 with nearly 200% in monthly gains, Dogecoin (DOGE) has entered a cool-off phase that allowed investors to scoop up the dip. At the time of writing, Dogecoin trades at $0.41 with little to no movement in terms of intraday price action. Daily volume has recorded a 4% uptick with roughly $9 billion worth of DOGE traded on exchanges.
Crypto experts believe that a Dogecoin breakout is imminent as buying pressure continues to mount. Trader and analyst Scofield has shared a chart reading on X that shows DOGE’s movements being squeezed by ascending and descending trend lines, creating a triangle formation. This pattern is expected to culminate in a break to the upside with the first major target being the $0.50 mark. Once Doge reconsolidates around this level, bullish continuation could lead to the prophesied $1 by the end of 2024.
Dogecoin Whales Lead The Charge
Meanwhile, whales continue to accumulate massive amounts of DOGE. According to TradingView data, large wallets have bolstered their Dogecoin positions by adding $160 million worth of DOGE over the last weekend. This show of confidence has reignited investor sentiment as Dogecoin continues to make headlines.
On the other hand, it’s safe to say that Dogecoin is already past the point of diminishing returns, as it’s unrealistic to expect another 100x rally from an asset with over $60 billion in market cap. This is why savvy investors are now adding low-cap meme gems to their portfolios, with Cutoshibeing one of the best examples.
What Makes Cutoshi Is Different Than Other Meme Coins
Projects like Dogecoin and Shiba Inu are outliers in the meme coin landscape. Most memes fail to become staples and tend to fade into obscurity as investors hop on the next trend. The reason is simple: they lack a real use case to ensure they can thrive in the long run. With its focus on DeFi, Cutoshi is built to thrive, not just in this current cycle, but for years to come.
At the heart of the Cutoshi ecosystem is CUTO DEX, this is a decentralized exchange that allows for seamless swaps across all major blockchains. With privacy and decentralization being a crucial part of Cutoshi’s values, users will not be required to compromise sensitive data or rely on middlemen when it comes to their assets. This philosophy, Cutoshi, inherits directly from Satoshi Nakamoto, who was inspired by the same ideals when creating Bitcoin.
Enter Cutoshi Farming
Cutoshi has a very simple goal: to bring good fortune to its community just like the Lucky Cats of Japanese folklore are said to bring prosperity to businesses.
Users who engage with the ecosystem will have the chance to earn significant monetary rewards via the Cuto Farm initiative. During and after the presale, they will be tasked to complete various missions aimed at expanding Cutoshi’s presence in crypto space. For their efforts, they will receive CUTO points that can later be exchanged for $CUTO tokens. Moreover, once the option is available, they will also have the opportunity to stake their $CUTO and earn money on autopilot.
The fourth stage of the $CUTO presale is now live and the token sells for just $0.031. Once Cutoshi hits the markets, it could follow Dogecoin’s footsteps and lock in for a massive moonshot in 2025.
For more information on the Cutoshi (CUTO) Presale:
Join and become a community member:
https://twitter.com/CutoshiToken
https://t.me/cutoshi
Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
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