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Top cryptocurrencies such as Cardano, Dogecoin, and presale star Cutushi are competing for the $1 mark.
A race to the dollar is not uncommon in the cryptocurrency market. In particular, top cryptocurrencies such as Cardano (ADA), Dogecoin (DOGE), and rising pre-sale star Cuttoshi (CUTO) have strong potential to reach this price mark.
Despite Cardano and Dogecoin’s prospects as established cryptocurrencies, both are still trading below the $1 price mark. Meanwhile, fast-growing pre-sale star Cutushi shows potential to reach this level in time thanks to its diverse market appeal.
Cutushi’s hybrid ecosystem shows potential adoption
Cutushi has gained recognition with its approach of blending memecoin culture and decentralized finance (DeFi). Essentially, the hybrid protocol leverages the capabilities of Memecoin by hosting a DEX platform for multi-chain crypto exchanges, a DeFi learning platform, and a DeFi hub with a token farming model designed to reward users. It is intended to be expanded.
Token farming includes, among other things, community-based quests and challenges that users of the platform can participate in to earn CUTO tokens and other exclusive rewards. So far, this hybrid approach has been able to unlock great pre-sale traction for the CUTO token, with the first pre-sale stage sold out and the second pre-sale stage now sold out. CUTO tokens are selling for $0.022, a 46% increase from the original launch price.
Cutushi had gained particular support from the meme coin market due to its hype centered around a nod to the Chinese beckoning cat, which is widely revered as a symbol of good luck, wealth, and success. In addition to this, Kutoshi supports Satoshi Nakamoto’s principles, which center around anonymity, privacy, financial freedom, and decentralization.
Despite recent developments, Cardano price faces prolonged consolidation
Cardano has completed the Change Hard Fork upgrade, enhancing the functionality of its decentralized governance system. Although the latest movements are expected to have a positive impact on the ADA token, the recent price trajectory has been very volatile. In early October, the native ADA token faced severe volatility with the price dropping below $0.34 as shown below.
Despite recent performance improvements, Cardano faces short-term price declines, in line with broader crypto market trends. However, despite the significant slowdown in momentum, it has remained strong and has continued to rise by approximately 40.82% over the past year.
In any case, Cardano founder Charles Hoskinson hinted that ADA price will be on a positive trajectory once the recent update takes full effect. With network strengthening and bullish technical indicators such as 10-day, 20-day, and 50-day moving averages, Cardano price may still show a bullish trajectory in the fourth quarter, but the forecast remains cautious.
Optimistic sentiment drives Dogecoin price amid whale accumulation
It remains to be seen whether Dogecoin’s recent price rally will continue through the end of the year, but positive optimism could play a key role in sustaining the current trend. Over the past month, Dogecoin’s price has increased by more than 32%. Most of that was contributed by a week-on-week surge of more than 24%, as seen in the chart below.
Despite the recent surge, the Dogecoin token could rise further as increased whale activity has increased market optimism just recently. According to recent reports, the Dogecoin whale made a huge move and acquired 155.11 million DOGE, worth about $21.65 million, from Robinhood.
Interestingly, this type of large-scale purchase leads to optimism among token holders and community members. This, along with the DOGE token’s technical moving average, indicates a strong buy signal that could persist throughout the fourth quarter.
Can Cutushi outperform Dogecoin?
Although Dogecoin has established itself as a legacy meme coin and is a mainstay of the cryptocurrency market, it lacks true utility. In contrast, Cutushi addresses a large gap in the meme coin market by integrating DeFi elements. While this provides a sustainable path to growth, it also gives Kutoshi an advantage over Dogecoin and other meme coins that lack real utility.
For more information, please visit CUTO’s official website and join the community. × And Telegram.
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