The broader crypto market is still riding on the recent market uptrend with several altcoins regaining bullish momentum. However, some top altcoins like Solana (SOL) have also faced noticeable hurdles as they try to break through their resistance zones. In view of this, some Solana Whales are diversifying into other promising projects pending Solana’s full recovery.
Top meme coins Dogwifhat (WIF) and fast-rising presale star, Cutoshi (CUTO) are on the receiving end of this attention. Whilst Dogwifhat has made significant progress in the past month, registering a nearly 70% increase, Cutoshi is stealing the spotlight because of its innovative hybrid MemeFi protocol and recent listing on CoinMarketCap.
Cutoshi (CUTO) is an Ethereum-based meme coin project with DeFi integration. Unlike typical meme coins, Cutoshi champions Satoshi Nakamoto’s Bitcoin core principles of decentralization, privacy and monetary freedom. As such, the Cutoshi ecosystem houses features, including a decentralized exchange (DEX), and a staking protocol.
Considering its community-centric approach, the hybrid protocol also includes a farming model that enables participants to engage in specific quests in order to earn extra rewards in the form of the native $CUTO token as well as complementary NFTs and Merch.
The $CUTO token powers up Cutoshi’s entire operations from transaction to reward distribution, and even the governing processes. While it adopts a unique burning mechanism, the CUTO token is designed to be self-sustaining. Currently selling for $0.022 in its second presale stage, representing a 46% spike from its launch price, the $CUTO token holds a strong potential to become the next 100X token.
Dogwifhat (WIF) has achieved quite a number of great feats in the first year of going public, one of which includes its progressive price trajectory. Notably, the native WIF token has registered one of the most impressive growth trajectory this year, boasting over 1400% year-to-date (YTD) price increase.
However, Dogwifhat token has also had its fair share of the market volatility as it previously lost nearly half of its price gain after registering an historic high price of $4.85 back in March. As seen in the chart below, WIF price have since faced a noticeable fluctuation that has forced it to trade below the $3 price level.
Regardless, WIF token has demonstrated strong resilience with recent price resurgence. Currently trading within a weekly range of $2.24 and $2.56, reflects over 14% increase in the past week, and nearly 70% in the past month. While analysts predict a continuation of this trend throughout Q4, their claims are further substantiated by the token’s bullish directional indexes.
Solana (SOL) price trajectory in the past week has drawn a lot of criticism as the native SOL token fails to cross the $160 resistance level despite recent uptrend. While many analysts anticipate a major uptick in Solana price this Q$, the recent price movement is raising a lot of concern.
Regardless, the native SOL token isn’t performing badly especially when looking at its YTD price trajectory. As seen in the chart below, SOL price has registered over 520% increase in the past year, which is largely considered substantial, especially when comparing with other altcoins with far fewer gains.
Although SOL price continue to trade below the $155 price mark, swinging within a weekly range of $138, and $153, it has been able to recover significantly from a recent downtrend that sent it below the $135 price level. This strong resilience, coupled with a bullish directional index, contributes to token holders and analysts’ optimistic stance for a price outbreak.
One of Cutoshi’s main goals is to rewrite the existing narrative in the meme coin market. While, Dogwifhat fits into the old narrative; meme coins that thrive on sensationalism, Cutoshi seeks to expand the market reach with DeFi integration.
By introducing functionality via its hybrid protocol, Cutoshi has a defined edge over Solana-based meme coins like Dogwifhat, and more importantly, holds a strong potential to outperform them within a shorter time frame.
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