With the breakout in blue-chip cryptocurrencies, the market has entered the initial phase of the bull rally. Investors are investigating potential investment opportunities in different sectors of the cryptocurrency market. After the recent breakout, the meme coin space has become the most trendy sector. Dogwifhat (WIF) and BONK have seen good momentum in the past weeks. Cutoshi (CUTO) is also dominating the bull run with innovative features.
While WIF and BONK are significant players in the market, better opportunities like Cutoshi are taking the lead. Having raised over $500k in the first stage, Cutoshi is emerging as a future leader in the meme coin space.
Dogwifhat (WIF) Struggles To Sustain Wedge Breakout
Dogwifhat (WIF) broke out of the decreasing wedge pattern on the 24th of last month. This breakout coincided with the Darvas box breakout, with the Dogwifhat price increasing by 45%. Despite recent struggles, Dogwifhat still trades 23% above the breakout level. However, bears can take control from here as the price has broken down the trendline, as shown in the chart. WIF has the next support at $2.21 and the major support at $1.95.
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The token’s RSI score has dropped to 50, showing it’s currently balancing between the bull and bear markets. The price action in the chart shows bearish momentum; however, the bull can take the price higher in a pullback. Dogwifhat is still not completely in the bullish trend. Therefore, investors interested in WIF should consider investing small amounts and diversifying their portfolios to manage risk.
Bonk Faces Rejection from Upper Zone of the Channel
Bonk was a star performer in the first half of 2024. However, it continuously trades in a bearish formation after topping out in May. Bonk has also shown low relative strength compared to other memecoins. For the last 7 months, BONK’s price has been moving steadily between two converging trendlines. It is likely to regain its bullish momentum before its subsequent rise.
BONK is trading above the $0.00002 primary psychological level, which can act as a demand zone in the future. Currently, in the near term, the price prediction of BONK looks bearish. Still, the trend can change after the pattern breakout.
The price is above key technical indicators like the 50-day and 200-day EMAs, confirming stability. However, it has broken the 20-day EMA, which has a negative impact on the price. Fibonacci levels have more upside potential, especially if it breaks the $0.000025 resistance level. This slight negative sentiment regarding BONK price has caused investors to shift towards Cutoshi, which shows strength in its early stages.
Cutoshi Attracts Crypto Whales with Impressive Presale Performance
As the year draws to a close, the search for the next breakthrough cryptocurrency heats up, and Cutoshi is catching the attention of investors with its innovative approach. Cutoshi stands out from typical meme coins by blending the fun of memes with real utility in its DeFi ecosystem, promoting decentralization, security, privacy, and financial freedom for everyday people.
The Cutoshi ecosystem gives users control and decision-making power. It features a multi-chain decentralized exchange, a learning platform, and NFTs. This setup aims to increase DeFi participation by combining meme culture with powerful fintech tools.
Cutoshi is committed to rewarding its community through the Cutoshi Farming initiative, where users can earn generous rewards by engaging with the platform, participating in special events, and completing missions. Additionally, staking $CUTO offers a way to earn passive income.
With Stage 1 of the presale successfully completed, $CUTO is now priced at $0.022 in Stage 2, offering investors a prime opportunity to get involved in this utility-driven meme coin revolution.
