As the MemeFi project Cutoshi gets over 580k worth of investment, driven in part by its recent CMC listing, PEPE price fluctuates, and Solana overtakes Bitcoin in terms of NFT trading volume.
Cutoshi CMP Listing Could Be The Beginning Of A New Movement
Cutoshi – for those new to the Ethereum-based presale project – is blending the magic of memes with the money magic of DeFi.
Their whitepaper is titled “Cutoshi – A Manifesto of Decentralization and Innovation”. This unusual name makes sense after a deeper read indicates that the meme’s origins are the Chinese Lucky Cat, mixed with Satoshi Nakamoto’s decentralization, privacy, and financial freedom principles.
A meme-based avatar complete with a DeFi ecosystem. They are building a cross-chain dex which forms the core of the project, offering low-cost swaps with user ease, due to its interoperable focus.
Cutoshi (CUTO) is also going to offer cute but utility-based NFTs, a merch shop for community lovers to show their support, group yield farming to introduce a competitive edge, but also to gamify learning about yield farming and staking.
Learning is key for Cutoshi so another big focus will be an academy where people can learn about blockchain tech, DeFi, memes, trading, and more.
CUTO is the native token currently on offer at $0.022, up 49%. As it is in stage 2 of the presale, the token is expected to continue its ascent through several more stages and may offer significant returns if the concept keeps attracting attention.
Could PEPE Be Ready For A Big Breakout After A Weekend Reversal?
Though PEPE has brought many investors considerable gains this year, it’s been a volatile month for the coin, which has shed and gained zeros several times this month.
After its remarkable significant gain from all-time lows, the PEPE has entered an interesting technical setup.
September saw PEPE grow impressively to $0.0011, before entering its current consolidation phase around the $0.0009 level. The technical picture is now showing signs that could interest traders – the RSI has settled into neutral territory, often a precursor to renewed price action after a period of downward pressure.
What’s particularly important is the formation of higher lows since mid-September. Despite recent bearish price action, trading volumes have remained steady, suggesting sustained market interest through the consolidation period.
According to an analyst from ReadWrite, “A breakout from the current pennant could propel PEPE’s market cap to $20 billion, driving its price to approximately $0.000596”.
PEPE investors should watch carefully to see if the coin can achieve this rally.
Solana Establishes Itself As The Second Biggest Blockchain For NFTs, After Ethereum
Solana (SOL) and its meme coins have been a huge success over the last year, with SOL bouncing back from FTX scandal lows of around $10, all the way up to $174. Even after the weekend tumble, Solana is one of the few coins firmly in the green, posting 9% gains.
So where have all these meme coins come from? Solana has always been popular for NFTs, and continues to do so as we see from its recent climb to the 2nd spot in NFT sales by volume.
Solana has always been associated with meme coins and NFTs.
In 2023 they made a strategic decision to release a Solana ‘Saga’ Phone, that came with a 30 million token airdrop of BONK. By the time the phone was launched (completely pre-ordered by SOL fans), it was worth far more than the selling price due to the airdrop.
That meme appeal has become bigger than ever in 2024 due to the release of Pump.fun – a Solana based meme coin deployer. Pump.fun makes it easy for anyone to release a meme coin for about $2, resulting in coins such as Goatseus Maximus (GOAT).
GOAT is the first Solana Pump.fun meme coin to receive a Binance listing, and it will be interesting to watch the longevity of this meme. Meanwhile, Solana’s price is likely to continue to grow as its popularity for meme coins and NFTs rises.
For more information on the Cutoshi (CUTO) Presale: Cutoshi’s Website
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