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Due to broader market uncertainty, Dogecoin (DOGE) saw some wild price fluctuations a couple of weeks back. It will take a lot of effort from the bulls to help it reach its previous highs. However, it is recovering fast and hinting at the continuation of an uptrend.
At the same time, another memecoin, Cutoshi (CUTO), is gaining excellent momentum in its presale, and analysts predict it can generate better returns than Dogecoin (DOGE) by the end of the year.
Dogecoin (DOGE) has shown excellent bullish momentum by surging over 14% in the last three days. Dogecoin’s (DOGE) price had a deep low yesterday but closed near the opening price to make a long-legged candle.
Dogecoin (DOGE) has formed a double bottom and is trending upward. Dogecoin (DOGE) experienced a 98% increase in volume over the last 24 hours. Dogecoin (DOGE) has surged over 9% to trade at $0.1281, and the market cap has crossed the $18 billion mark. Coinmarketcap shows an 81% bullish community sentiment for DOGE.
Dogecoin (DOGE) trades above the 50-day Simple Moving Average (SMA) but below the 100-day SMA. The relative strength index is 67, quickly rising toward the overbought region, indicating increasing demand.
The Dogecoin (DOGE) price reached a previous level of strong resistance at $0.12850 and is facing rejection again after failing to break it. Dogecoin (DOGE) may pull back after today’s large movement to take support at $0.12140.
While Dogecoin hints at a rally, Cutoshi has more potential as it is in the early stages of the presale. This rising star is a hybrid token – a combination of the practicality of utility tokens and the fun of memecoins. Cutoshi is on the blockchain to bring good luck and prosperity to your portfolio. Cutoshi tokenizes the power of the Chinese Lucky Cat which inherits its lucky power to its owners
Cutoshi is crafting a decentralized ecosystem to provide digital security, privacy, and freedom. The Cutoshi DEX, where people can swap assets with other members across different blockchains.
Another important component is the Cutoshi Academy, which delivers educational content for crypto rookies. People will be able to discover the workings of web3 and decentralization in a fun way so they won’t get bored. NFT enthusiasts can get rare NFTs by joining the community and participating in its activities.
Cutoshi is currently in stage two of the presale and is priced at $0.022. In just a matter of weeks, it has raised over half a million dollars and has become one of the fastest-growing presales. This success is all thanks to its unique and well-designed platform.
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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.
