After initially reaching $0.000021 toward the end of September, Shina Inu faced bearish pressure that then resulted in a significant decline that sent the price below the $0.000019 mark. This recent price dip experienced by Shiba Inu is causing investors to abandon the meme coin and look for other promising opportunities.
Amid this search, investors are considering both Ethereum and another Ethereum-based meme coin called Cutoshi. But this time around, it is an Ethereum-based meme coin that prioritizes utility over memes. Moreover, this new token is already gaining traction in its presale as it sees million tokens sold in weeks and more than $500,000 raised.
Cutoshi Has A Competitive Edge Over Other Memecoins
Cutoshi embraces fun and a community-driven nature which is typical of memecoins. However, Cutoshi stands out from the crowd by focusing on utility and empowerment. By propagating the ideas of Bitcoin founder Satoshi Nakamoto, Cutoshi promotes decentralization, privacy, and financial freedom for users.
Furthermore, Cutoshi differentiates itself from other memecoins by offering a robust educational component. The Cutoshi Academy aims to raise awareness about DeFi, attracting users who are in search of both knowledge and investment opportunities at the same time. Additionally, Cutoshi has a multi-chain functionality via its DEX that makes cross-chain transactions easier.
As a result, users who want to swap their tokens will not need to be moving from one platform to another to do that. Interestingly, Cutoshi has been listed on CMC. This further enhances its credibility and makes the token more visible to a wide range of investors, boosting token sales. Meanwhile, the CUTO token is currently selling for only $0.022 in stage 2 of the presale.
Shiba Inu Price Chart Analysis
The Shiba Inu coin has shown some impressive price movements over the past week and month. Interestingly, the price of the Shiba Inu coin rose by more than 7% over the past week from $0.0000173 to $0.0000187 while the past month saw a bigger increase of more than 40%. These positive price movements have excited analysts and holders alike.
Meanwhile, investors are optimistic about future price movements for the meme coin as it breaks out of a bullish channel. This chart pattern suggests a potential rally ahead. Moreover, looking at the 1D Shiba Inu price chart, we can observe the formation of higher lows, but a notable resistance level is rejecting the price around $0.000019.
This is now leading to the formation of an ascending triangle on the chart. So, if the bulls can successfully break the $0.000019 resistance level, we may see the price of the altcoin rally toward the $0.000021 mark. However, if bearish momentum persists, Shiba Inu may decline back to $0.000016.
Ethereum Price Chart Analysis
Ethereum seems to be facing an important moment that could determine its short-term price direction. While the altcoin faces significant resistance between $2,600 and $2,700, the Ethereum price has increased by about 6% over the past week. Meanwhile, a break above this key resistance zone could lead the Ethereum price toward the $3,000 mark.
Meanwhile, the recent bullish move observed on the Ethereum price chart is likely fueled by a significant increase in buying activity around the $2,300 zone. As a result, bullish momentum intensified for a while before the price met the resistance zone between $2,600 and $2,700.
However, if the bulls fail to overcome this key resistance zone, we may see the price of Ethereum decline back to the $2,200 support zone. Nevertheless, holders maintain optimism as they expect the price of Ethereum to break out in the bullish direction soon.
Shiba Inu Investors Move To Another Ethereum-Based Token – Cutoshi
While Shiba Inu records significant price fluctuations amid its notable monthly gain, investors who are seeking more promising alternatives are eyeing Cutoshi as it promises huge gains.Â
Moreover, with its outstanding features that range from giving educational knowledge to rewarding active community members and easing the stress in DeFi transactions, Cutoshi is positioned for a huge success.Â
For more information on the Cutoshi (CUTO) Presale:
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