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Bitcoin nears $100k, Dogecoin rallies 195%, and Cutoshi emerges as a memeFi star, raising $1m in its presale.
Crypto markets are breaking records. With Bitcoin hovering around $100k, altcoins are following. Doge has outperformed most major tokens, while Popcat is struggling. At the same time, a new ETH-based memeFi hybrid token Cutoshi is taking the markets by storm.
Doge is poised for major gains
After years of slow performance, Dogecoin (DOGE) is finally seeing its bull rally. At the current price of $0.4028, the token is up 195% in the last 30 days, outperforming many major cryptos.
The likely reason for Doge’s price surge is the recent publicity thanks to Elon Musk. After his election victory, Donald Trump has announced the creation of the Department of Government Efficiency (DOGE). Musk will head the department, which already brought significant attention to the token.
This attention has strongly boosted Doge’s technical indicators. The moving averages are overwhelmingly below the current price of Doge, suggesting a major potential for upside. This will likely come in the coming months, after the new administration assumes power. According to CoinCodex, the token has the potential to rise $ 0.869 in the next three months.
Popcat takes beating after losing key support
After a strong performance earlier this November, the Solana-based Popcat saw a significant drop, wiping up its gains. However, there are some indicators that Popcat may be turning around.
Popcat underperformed during this cycle, dropping 24.60% in the last seven days. The drop last week came after the token fell under a critical support of $1.30. Technicals suggest that the token could fall even lower if this support is not maintained.
The current technical indicators for Popcat are also not great. Moving averages are mostly above the current price of $1.33 and oscillators are either neutral or mixed. However, the 100-day simple and exponential moving averages are still below the current price, indicating a buy. Still, if Popcat manages to reclaim and stay above $1.74, it has the potential to reach its all-time high of $2.07.
Meme coin-DeFi hybrid Cutoshi raises $1 million
While meme coins are showing mixed performance, one token has recently seen significant growth. The memeFi token Cutoshi (CUTO) went viral after raising $1 million in its presale. This new meme coin is attracting significant attention thanks to its combination of memes and DeFi.
Most meme coins, like Doge and Popcat, offer little to no utility. Most of their appeal comes from how easy they are to understand for average traders. Cutoshi, on the other hand, combines these two aspects. It aims to be accessible to traders, while also building a robust DeFi ecosystem.
The token takes inspiration from the Chinese Lucky Cat symbol, beloved all over the world. At the same time, it takes its name from Satoshi Nakamoto, the creator of Bitcoin. Inspired by Satoshi, the Cutoshi project aims to create an ecosystem that’s all about decentralization.
At its core will be the Cutoshi Multichain DEX. This decentralized exchange will aim to make it easier than ever for new traders to get into DeFi. Cutoshi will also provide a learning platform to help inexperienced traders get into the world of DeFi.
Accessibility is one of the main issues with DeFi adoption, projects like Cutoshi can help drive more people to the industry. If they succeed, this will be a win for decentralized technology, as well as its users.
To learn more about Cutoshi, visit the website.
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