The cryptocurrency market is facing a natural pullback from the recent bull run. While many think of this as a negative environment, experienced investors consider it a perfect opportunity to purchase undervalued tokens. Thus, they prepare for potential gains in the next stage of the bull market.
Here, we will discuss the top three coins, Dogecoin (DOGE), SUI, and Cutoshi (CUTO). These coins have performed very well in the previous market stage. Now, they are set to outperform their peers in their particular industries.
Dogecoin Slides Below $0.40; What’s the Next Support?
Dogecoin (DOGE) had an impressive November run, jumping 160% and reaching its highest level in nearly three years. However, DOGE dropped over 10% on Monday, raising concerns about a potential breakdown from the uptrend. DOGE tried to sustain above the 20-day moving average, but sellers took control. They pushed it below the $0.40 psychological level.
The Relative Strength Index (RSI) is signaling a warning. It dropped from the overbought zone to the 51 level on a single day. On Sunday, Dogecoin price formed a higher high, but the RSI didn’t follow suit, creating a bearish divergence. This pattern often points to a short-term correction.
Considering the downward trend in the MACD daily chart, traders see it as a signal that Dogecoin’s price will decrease. The weekly chart shows that DOGE has been climbing exponentially since the beginning of November. Moreover, DOGE’s corrective phase could be due to traders deciding to cash out on their profits. It might take a couple of days or weeks.
Phantom Wallet Announces Integration with Sui L1 Blockchain
Phantom Wallet, a leading cryptocurrency wallet, has announced support for Sui. The Sui blockchain is famous for its fast processing and low transaction fees. This integration aims to enhance unified cryptocurrency storage and trading across the web3 space.
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It is a significant event for Sui. It became the first blockchain excluded from Solana, Bitcoin, and Ethereum to be supported by Phantom. It’s also the first blockchain deployed using the Move programming language that would be associated with the wallet.
Sui Foundation’s global head of the ecosystem applauded the Phantom team for participating in this collaboration. He pointed out that the integration provides the Sui community with its most awaited features. By backing Sui, Phantom Wallet proves its intentions of catering to a multichain future. Thus, it is separating itself from a single ecosystem. In this context, the cooperation of wallet providers and dApp developers shows they can be broadly interoperable.
Cutoshi has kicked off its community rewards by announcing the winners of the recent contest. After an amazing response and incredible creativity from the community, the top 10 winners of the $2,000 $CUTO Meme Contest have been officially revealed. That has strengthened Cutoshi’s community approach.
Cutoshi is a unique, community-driven project that blends meme energy with DeFi capabilities, creating a one-of-a-kind MemeFi ecosystem built for profitability and longevity. While the crypto market still overlooks Cutoshi, with bigger memes and legacy altcoins taking center stage, it offers real value.
While many meme coins are just hype-driven bubbles, Cutoshi offers real-world applications. It exhibits a non-custodial, multi-chain DEX that authorizes the sharing of asset exchanges across diversified blockchains without the need for a central third party.
Moreover, Cutoshi also utilizes a dynamic burn mechanism that creates scarcity and affordability for its holders in the future. In this manner, the total supply decreases over time, driving the price of tokens up. Just after its introduction to CoinMarketCap, Cutoshi has grown to be a prominent member of the meme coin space.
While tokens like Dogecoin and SUI have made their mark, Cutoshi has been at the forefront of discussions, offering innovative technology. Priced at $0.031 during the fourth stage of its presale, Cutoshi offers a promising opportunity as the bull run continues.
