With Shiba Inu (SHIB) likely to remain in the consolidation period for a long time, traders are deciding on whether the said meme coin is likely to return its charm or not. On the other hand, Cutoshi (CUTO), an upcoming utility meme project, is dominating the market during its presale. Its unique features and benefits are pulling traders to know more about the project.
SHIB Likely To Be In Consolidation
With the market scenario changing every day, SHIB continues to consolidate. Though whale investors have bought over 13.2 trillion SHIB tokens, there’s a slim chance that SHIB will make a potential reversal.
Looking at the current data, SHIB stands flimsily at $0.00001667, with a slight increase of 0.49% in the past 24 hours. However, indicators state that SHIB is likely to remain in the consolidation period without any major breakouts in the near future.
As it can be seen, the SHIB value is moving between the middle ($0.00001665) and upper ($0.00001669) Bollinger bands without widening, indicating limited volatility. Besides, the MACD lines are moving too closely without any strong momentum, which is a sign of consolidation. Additionally, the RSI indicator is at 52.85, which makes SHIB fall into the neutral zone without any strong momentum.
All the indicators point towards SHIB being in the consolidation period, but the meme coin still needs to hold its value and not cross the lower support value of $0.00001661 and enter the bearish period. One of the major reasons why there are low chances of SHIB entering a strong bullish period is due to its vast supply of 589 Trillion tokens, which makes it easily accessible.
CUTO Being The Trending Utility Token
With SHIB likely to remain in the consolidation period for quite some time, buyers are moving forward from meme coins to meme-utility coins, where CUTO enters the scenario. Cutoshi is one of the most potential meme-utility projects that combines the core concept of blockchain and the luck of the Chinese lucky cat. Cutoshi brings forth a platform dedicated to DeFi principles with the aim of spreading the teachings of legendary Bitcoin founder Satoshi Nakamoto.
Though CUTO is in its presale stage 4 period, it has gained tons of attention from various investors in its early stage due to its everyday changing presale price.
The deflationary memecoin started off at $0.015, and is currently valued at $0.031. Till now, CUTO has raised more that $1.7 Million, and is garnering more traction than ever. Besides, CUTO is also providing a limited time bonus of 35% for users during a Valentine’s day gift, thus giving another opportunity to gain more CUTO tokens.
CUTO: Rewarding The Community
CUTO’s exciting features and community-driven approach are fueling its presale stage. The deflationary coin has plans on releasing limited 8000 NFTs on its platform and use it to reward early adopters, loyal users and participants in the platform. As the NFTs are built with DeFi utility, the value will increase over time.
Cutoshi also has yield farming and quests where liquidity providers and winners will get CUTO points that can be exchanged for exclusive rewards. There’s also a Lucky Cat Shrine where people can win surprises and prizes upon participation.
Besides, CUTO only has a limited supply of 440 million tokens, out of which it has already allocated 55% to presale and 7% to token burning mechanism, which increases its scarcity and value.
There’s also the CUTO wallet that supports over 20 blockchains and thousand tokens for users to safely swap between chains making CUTO one of the safest DEX and swapping platforms. Since CUTO is built on Ethereum ERC 20 and audited by SolidProof, it ensures security and provides complete control to the users.
Final Words
Though Shiba Inu is showing slow potential due to whale interest, it is highly unlikely for the meme coin to break into the bullish trend. Besides, CUTO is proving to be the next Shiba Inu rival with its innovative project aspects and presale returns. However, it is better to know about the crypto projects in detail before making any investment-related decisions.
Cutoshi Presale Live, Learn More Below
- Price: $0.031 per $CUTO
- Supply: 440,000,000 tokens (ERC-20)
- Website: https://cutoshi.com
- Telegram: https://t.me/cutoshicommunity
- X (Twitter):https://x.com/CutoshiToken
