Crypto whales are accumulating Near Protocol (NEAR) and Helium (HNT), which has led to an increase in the bullish pressure on their prices. This involvement from whales has resulted in a considerable increase in the trading volume of these two coins.
Along with Helium and Near Protocol, a hot new utility memecoin, Cutoshi ($CUTO), has captured the interest of the whales. Cutoshi is a revolutionary meme coin inspired by the Chinese Lucky Cat and Satoshi Nakamoto’s teachings. Let's take a deeper look at these tokens.
Near Protocol is 12% up today, with a 185% increase in volume over the last 24 hours. This volume and price momentum can be attributed to the whales jumping in to acquire NEAR.
Near Protocol is trading above the 50-day moving average and has crossed the 200-day moving average to reach above it today. For NEAR, the Immediate resistance is $5.26, and the next significant resistance is $6.46. The nearest support is $3.83; if it breaks it, $3.4 will be a strong next support.
Helium has recently shown high relative strength, but in the last two days, it has pulled back to the $7.2 level. According to the technical analysis, the price action in Helium is still intact and demand could pickup form the short term moving average.
Helium was up 12% yesterday, but today, it is down 5%, which could be from profit booking. Also, volume has increased by 70% over the last 24 hours. Helium is surfing above the 50-day and 200-day moving averages with an RSI of 51.50. The immediate resistance is $5.26, and the next significant resistance is $6.46.
Cutoshi is being called “The Luckiest Memecoin On The Ethereum Blockchain”, but what is the story behind this new memecoin? Let's see.
People used to keep the Chinese Lucky Cat in their homes, utilizing its lucky powers to bring them good fortune and wealth. Cutoshi has brought The Lucky Cat to the blockchain, hoping it brings luck, prosperity, and wealth to your digital assets. Cutoshi is more of a utility coin than a memecoin.
Cutoshi is working to increase DeFi participation in the crypto world through the power of memes and the amazing tech of the Cutoshi ecosystem. The ecosystem includes, a decentralised exchange, farming, NFTs, Merch, Cutoshi academy and the $CUTO token, which will be the main currency used in Cutoshi.
Cutoshi Decentralized Exchange (DEX) is a multi-chain exchange in which assets can be swapped across chains, making the process simple and saving time and money.
Unlike traditional coins like Near Protocol and Helium, Cutoshi is a utility memecoin, incorporating the fun aspect of memecoins along with the utility and features of DeFi. That is why Cutoshi appeals to both the memecoin and DeFi communities.
Crypto whales' interest in Cutoshi during its early stage shows the project is commendable and has excellent potential for immense growth.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.