With the recent volatility in the crypto markets, traders are shifting their strategies. Most recently, memecoin whales, especially those holding Bonk (BONK) and Dogwifhat (WIF), are looking for new alternatives. One of them is Cutoshi, a new token with robust utility.
Cutoshi Attracts Whales With Explosive Presale
Unique utility-packed memecoin Cutoshi (CUTO) is attracting significant whale activity. This token blends the utility of DeFi with the fun and viral nature of memecoins. This is reflected in its inspiration, the Chinese Lucky Cat and Satoshi Nakamoto, the creator of Bitcoin.
The project is building a multichain DEX, token farming features, an educational platform, and much more. The DEX will contribute directly to CUTOs utility, while other features reward and support users. The platform will also have NFTs, which are an additional way to reward users.
Unlike Bonk and DogWifHat, Cutoshi is Ethereum-based. This is another reason why traders like it. Despite its relatively higher fees, Ethereum is home to projects that are typically of higher quality. Moreover, Ethereum memecoins like Shiba Inu still dominate memecoin rankings.
With its low presale price of $0.015, Cutoshi is a great buy. The project already raised $328,000 from big investors looking for the next breakout coin. Thanks to its utility, the project has a real shot at reaching $1 very soon.
Bonk Slows Growth After Massive Gains
The iconic Solana memecoin, Bonk, has been slowing down recently. Currently, at $0.0000201. Declining 4% over the last seven days, despite the fact that Bitcoin was up 1.3% in the same period.
Over the last month, Bonk was up 18%, underperforming many major currencies. Still, unlike most memecoins, it remained relatively stable, falling just 57% from its March all-time high. The likely reason for this is its strong position in the Solana ecosystem.
As one of the largest Solana-based tokens, Bonk received support from the Solana Foundation. Solana Mobile even included free Bonk with its Saga phones. This helped propel its impressive growth, rising 10228.85% this year. Bonk is currently the second-largest Solana memecoin, only surpassed by DogWifHat.
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With a market cap of $1.43 billion, Bonk is now an established currency. This means that it doesn’t have the same explosive potential as tokens like Cutoshi. Moreover, its supply of 71.31T BONK means that it’s very unlikely that the token would ever reach $1.
Dogwifhat
The biggest Solana memecoin, Dogwifhat (WIF), has been on a stable trajectory recently. Since its March highs, Dogwifhat has been on a decline, but this trend is now slowly reversing. Now, some traders are expecting a breakout.
Currently at $2.34, WIF already surpassed $1 in February. It reached its ATH of $4.85 in late March and has since been on the decline. However, traders are feeling good about this token, with technical indicators flashing buy signals.
Despite its huge success, Dogwifhat doesn’t really have any tangible utility. The utility it does have is mostly focused on memes. For example, the project is launching a WIF hat generator, enabling users to create cute DogWifHat pictures with different hats. This means that its long-term potential is somewhat limited compared to projects like Cutoshi.
For more information on the Cutoshi (CUTO) Presale:
Join and become a community member:
https://twitter.com/CutoshiToken
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