Cash News
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
Top cryptocurrencies like Cardano, Dogecoin, and presale star Cutoshi are vying for the $1 mark.
The race to $1 is not an uncommon one in the crypto market; Notably, top cryptocurrencies like Cardano (ADA), Dogecoin (DOGE), and fast rising presale star, Cutoshi (CUTO) possess strong potential to hit this price mark.
Despite Cardano and Dogecoin prospects as established cryptocurrency, they are both still trading below the $1 price mark. Meanwhile, fast-rising presale star Cutoshi is showing potential to reach this mark in due time, thanks to its diverse market appeal.
Cutoshi’s hybrid ecosystem shows adoption potential
Cutoshi has gained recognition because of its approach to blending meme coin culture and decentralized finance (DeFi). Essentially, the hybrid protocol aims to expand its meme coin functionality by hosting a DeFi hub that features a DEX platform for multi-chain crypto swaps, a DeFi-learning platform, and a token farming model designed to reward users.
The token farming specifically entails 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 pull in magnificent presale traction for CUTO tokens as it has sold out its first presale stage and is currently selling out its second presale stage. CUTO tokens are sold for $0.022, representing a 46% jump from its initial launch price.
Cutoshi had particularly gained support from the meme coin market due to its motivating hype around its tribute to the Chinese Lucky Cat which is widely revered as a symbol for good luck, wealth and success. Combined with this, Cutoshi upholds Satoshi Nakamoto’s principles which center around anonymity, privacy, monetary freedom and decentralization.
Cardano prices faces extended consolidation despite recent development
Cardano has completed its Change Hard Fork upgrade, enhancing how its decentralized governance system functions. Although the latest move is expected to impact ADA token positively, its price trajectory has been quite volatile lately. Earlier in October, the native ADA token faced severe fluctuations that drove its price below $0.34, as seen below.
Despite the recent upgrade to its performance, Cardano has faced short-term price declines, following the broader cryptocurrency market trends. However, it remains up by about 40.82% over the past year as it stays strong despite the drastic slowdown of momentum.
Regardless, Charles Hoskinson, Cardano founder, has hinted about a positive ADA price trajectory once the recent update takes full effect. With network enhancements and bullish technical indicators, including 10, 20, and 50-day moving averages, Cardano price could still witness a bullish trajectory this Q4, though predictions remain cautious .
Optimistic sentiment boosts Dogecoin price amid whale accumulation
Although it is clear if Dogecoin’s recent price spike will hold till the end of the year, positive optimism may play a crucial role in sustaining the current trend. In the past month, the price of Dogecoin has risen by over 32%, most of which was contributed by its weekly surge of over 24% as observed in the chart below.
Despite its recent surge, Dogecoin token might still be up for further increase as increasing whale activities just recently added to its market optimism. According to recent reports, a Dogecoin whale made a massive move, acquiring 155.11 million DOGE worth around $21.65 million from Robinhood.
Interestingly, this type of large-scale purchase steers optimism among token holders and community members. This, alongside DOGE token’s technical moving averages points towards a strong buy signal which may be sustained throughout the Q4.
Can Cutoshi outperform Dogecoin?
While Dogecoin has established itself as a legacy meme coin and a mainstay in the crypto market, it lacks genuine utility. In contrast, Cutoshi is addressing a major gap in the meme coin market by integrating the DeFi element. While this offers a sustainable path for growth, it also gives Cutoshi an edge over Dogecoin and other meme coins that are lacking real utility.
For more information, visit the official CUTO website and join the community on X and Telegram.
Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.