There have been a lot of positive predictions circulating the crypto space amidst the ongoing market frenzy. Notably, Shiba Inu (SHIB)’s soaring burn rate has sparked a debate on the possibility for SHIB to witness up to 80% price surge. Similarly, Cardano (ADA)’s unprecedented upsurge points at a possible breakout above the $0.60 resistance level.
Meanwhile, contending for the spotlight is a fast-rising presale star – Cutoshi (CUTO), which after recently listing on CoinMarketCap, is gaining increased exposure as a hybrid meme coin. In addition, Cutoshi farming, a notable feature of the hybrid ecosystem, has just gone live and is expected to drive more traction to its ongoing presale which has since raised over $800K.
Cutoshi Farming Mechanism Goes Live, Attracts Growing Interest
Cutoshi (CUTO) is garnering a lot of attention because of the unconventional approach it takes to redefine what meme coins are. At the fundamental level, Cutoshi is inspired by the Lucky Cat’s positivity and Satoshi Nakamoto’s core principles of decentralization, privacy and monetary freedom. Dedicated to creating the most inclusive DeFi ecosystem, Cutoshi houses a DeFi hub that features both lucrative and educational DeFi elements.
Native to this DeFi hub is a DEX platform that facilitates cross-chain crypto transactions. There is also a dedicated staking protocol and a farming mechanism that offers extra layers of incentive to active community members and token holders alike. Additionally, the Cutoshi ecosystem houses a dedicated learning academy that is aimed at spreading DeFi knowledge to a global audience with the ultimate goal of speeding up DeFi adoption.
Meanwhile, considering its self-sustaining model, the Cutoshi ecosystem is entirely powered by the native $CUTO token. While it also doubles as a deflationary cryptocurrency, the CUTO token facilitates various activities, including staking, reward distribution and even the governing processes. Having raised well over $800K so far, stage 2 of the presale has already sold out, meaning early holders are up a healthy 77%.
Shiba Inu Token’s Soaring Burn Rate Boosts SHIB Price
In the wake of the crypto-friendly Trump election win, Shiba Inu (SHIB) like most top altcoins, have witnessed an influx in its trading volume. This unprecedented surge has sent Shiba Inu’s token-burning mechanism into overdrive, resulting in about 3,679% surge in SHIB burn rate in just 24 hours.
Although the recent spike in its burn rate falls short of SHIB token’s historical peaks, it led to the removal of over 53.3 million SHIB tokens from circulation. With this phenomenon, SHIB price shot through the roof, making a significant recovery from its weekly lowest levels around $0.000016 to reach a peak price of $0.000029 as seen in the weekly chart below.
Although, SHIB price has slightly retracted since, it is currently reflecting a noticeable 7% gain in the past week and over 10% in the past month. Meanwhile, token holders are anticipating SHIB price to stabilize above the $0.000020 price zone which many believe will give SHIB token up to 80% price push towards its 7-months ATH of $0.000035.
Cardano Price Recovery Maintains Bullish Momentum
Cardano (ADA) price trajectory is witnessing a noticeable uptrend, registering a nearly 20% increase in the past week alone. This noticeable price surge has contributed to its over 32% price recovery in the past month where ADA price surged from its lowest point below $0.33 to currently trade above the $0.50 price mark as seen in the monthly chart below.
Meanwhile, the recent price spike also allowed ADA token to break out of the crucial resistance level around $0.40. While it now comfortably trades above this crucial zone with the $0.60 price level in sight, there has been a resurging optimism among token holders.
Particularly, the native ADA token is projected to soon retest the 7-months ATH around $0.77 and possibly set a new historic high above the $0.81 price levels. This claim is further backed by ADA token’s technical analysis, including its moving averages that points at a very strong buy signal, further suggesting a sustained trend.
Can Cutoshi Outpace Cardano And Shiba Inu?
Although Shiba Inu’s Shibarium launch marked an epic moment for the meme coin’s push for DeFi expansion, it doesn’t seem to hold as much promise as Cutoshi.
As a hybrid MemeFi protocol with a fully functional DEX, Cutoshi stands a chance to outperform most meme coin counterparts. This unique positioning allows Cutoshi to thrive in a diverse market, potentially eclipsing the shine of traditional altcoins like Cardano among others.
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