The recent market correction has set the top altcoins back by a lot, including Dogecoin (DOGE). DeFi and meme tokens are at loggerheads, and it doesn't get more intense than in the meme sector. And with the Dogecoin price in decline mode, Cutoshi (CUTO) is fast becoming DOGE traders' favorite in the crypto-verse
The September surge was a smooth run for most altcoins, as many of them–DOGE included–made double-digit profits on their monthly timeframes. Now, the Dogecoin token is 11% down for the past week, as the market correction that followed last week's trading has caused a massive bleed.
It's particularly worse for the pioneer meme coin, as it is closely tied to Bitcoin. The BTC token is caught in losses, thanks to the Middle East wars, and Dogecoin is suffering as a result.
BTC shed 9% in the past week, and Dogecoin might be destined for much worse. The DOGE founder Billy Markus has sold off most of his crypto stash, including Dogecoin (DOGE), which could set the pace for sell-offs on DOGE charts.
DOGE whales are battling to keep the Dogecoin price up. About a billion tokens have been acquired, and the Dogecoin price has moved up 4% on the daily charts.
The acquisition ranks among the biggest buy-ups on DOGE in recent times, valued at about $108 million. Some traders have taken a leaf out of the whales' books too, as they are aiming to buy the dip before Dogecoin starts to surge.
Dogecoin (DOGE) is trading at about $0.104, and it looks set to close the week on losses. The Cutoshi (CUTO) launch is in a few weeks; the presale is selling out fast, and supply is dwindling.
Here's some of what to expect from the CUTO ecosystem
The meme space is not your go-to platform for innovation and utilities. Most meme coins are simply out for the culture, offering very little in the way of real-world use cases and plenty of volatility.
The Cutoshi (CUTO) meme is based on a cross between the charm of the Chinese Lucky Cat and Satoshi Nakamoto’s blockchain philosophy. Lucky memes and a happy community to go with decentralized finance for all; who says no?
Between Cutoshi’s meme culture and developing a strong community, the project is concerned with offering valuable aid to crypto users, whether or not they hold CUTO tokens. For trading enthusiasts, there's a Cutoshi academy to help with introducing newbies to the concept of cryptocurrency.
Now, it gets even better when you're a CUTO holder. You get a shot at contests and giveaways for profits, as well as complimentary rewards like NFTs for simply holding onto your tokens. There's also a decentralized exchange for trading and swapping crypto assets, along with farming options where users complete quests and tasks to get more CUTO.
The tokens are in their final phase of presale; about 19 million tokens have been sold out of the 22 million coins allocated at the current presale stage. Each token sells for $0.015, and with the supply dwindling, even Dogecoin (DOGE) traders want a piece of the trending Cutoshi (CUTO) tokens. Experts are confident this meme coin of good fortune could be the next big thing out of the meme coin sector, especially considering it’s following the Satoshi Nakamoto template.
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