The price of Dogecoin (DOGE) soared more than 28% in a month after Elon Musk tweeted that DOGE would be corrected. The entrepreneur mentioned the so-called Ministry of Government Efficiency, but investors likely interpreted the tweet as boosting Dogecoin given the coin’s history with billionaires.
As a result, ApeCoin (APE) recorded over 60% weekly gains as Cutushi stole market attention from DOGE and APE. This unique pre-sale star has gained attention for its hybrid MemeFi protocol and recent listing on CoinMarketCap.
Cutushi’s pre-sale record increases interest from Cryptowhales
Cutushi’s presale proceeds have already exceeded $540,000, indicating the pace at which CUTO tokens are being purchased within the presale market. Additionally, Cutashi’s hybrid approach, which combines the unique attributes of meme coins and DeFi, seems to have caught the attention of many. Fundamentally, the project embraces Bitcoin’s core principles of decentralization, financial freedom, and privacy.
The Cutshi project incorporates unique features such as a DEX platform, farming mechanism, and staking protocol. Cutushi Farming offers a new way for the community to earn additional tokens by completing quests. Additionally, Cutushi also features a learning academy that closes the cryptocurrency knowledge gap and brings DeFi closer to the masses.
From an initial price of $0.015 to a current price of $0.022, early CUTO investors have enjoyed an ROI of over 46%. Furthermore, Katsi’s tokenomics, backed by a limited supply of tokens, will create huge demand for the tokens, likely leading to further gains in the coming months.
Dogecoin price performance
Dogecoin price has shown impressive performance, trading around $0.137, reflecting an increase of over 8% in the week. However, Dogecoin price appears to have entered a small price correction period.
Source: TradingView
Dogecoin price started showing bearish momentum after the daily RSI reading crossed the 70 mark. This is a threshold indicating overbought conditions, which is usually followed by a period of consolidation. Additionally, DOGE’s 50-day EMA is also approaching a crossover within the 200-day EMA due to the strong rally earlier this month, even though the token’s RSI has regained a neutral position.
Early DOGE buyers appear to be locking in profits as the golden cross approaches, contributing to the token’s continued decline. Nevertheless, Dogecoin may regain its bullish trend soon as it enjoys widespread and continued support from prominent figures like Elon Musk. If the decline continues, the downside price target for Dogecoin this month will be the moving average, currently $0.11.
ApeCoin price retest key support levels
Despite impressive weekly gains, ApeCoin price fell below the $1.41 support level in the past 24 hours and retested the technical safety net at $1.26. If ApeCoin price falls below this support level, it could fall further to $1.06 in the short term.
Source: TradingView
However, if the APE price, which is currently around $1.1, remains above the support level, it is likely to regain bullish momentum and try to regain the support at $1.41. ApeCoin’s 4-hour chart suggests a bearish trend after its price triggered both MACD and RSI indicators.
ApeCoin’s 20-day and 50-day moving averages are 0.866 and 0.803, respectively, suggesting that sellers have taken control of APE price from buyers. However, the RSI is still above the benchmark 50, indicating that bullish strength still exists for the token in the fourth quarter.
Is Cutushi a better investment in Q4?
Similar to Dogecoin and ApeCoin, which have recorded significant profits every month, Cutushi is also poised for future profits. On the back of unique MemeFi features and token scarcity, Cutushi plans to further expand its pre-sale profits in the fourth quarter.
For more information on the CUTO presale, please see below.
https://cutshi.com/
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https://twitter.com/CutushiToken
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This is a sponsored article. The opinions expressed are solely those of the sponsor and readers should conduct their own due diligence before acting on the information presented in this article.
