While the MemeFi Cutoshi project gets over 580,000 investments, thanks in part to its recent CMC listing, the price of PEPE fluctuates and Solana overtakes Bitcoin in terms of NFT trading volume.
Cutoshi CMP listing could be the start of a new movement
Cutoshi – for those new to the Ethereum-based presale project – mixes the magic of memes with the financial magic of DeFi.
Their white paper is titled “Cutoshi – A Manifesto of Decentralization and Innovation”. This unusual name makes sense upon further reading, indicating that the meme’s origins are the Chinese lucky cat, mixed with Satoshi Nakamoto’s principles of decentralization, privacy, and financial freedom.
A meme-based avatar with a DeFi ecosystem. They are building a cross-chain dex that forms the core of the project, providing low-cost and easy-to-use trading, due to its interoperable focus.
Cutoshi (CUTO) will also offer cute but utilitarian NFTs, a merchandise store for community lovers to show their support, group yield farming to introduce a competitive advantage, but also to gamify learning. yield farming and staking.
Learning is key for Cutoshi, so another major focus will be an academy where people can learn about blockchain technology, DeFi, memes, trading and more.
CUTO is the native token currently offered at $0.022, up 49%. As it is in Stage 2 of the presale, the token is expected to continue its ascension through several additional stages and could offer significant returns if the concept continues to attract attention.
Could PEPE be set for a big breakout after a weekend reversal?
Although PEPE has brought considerable gains for many investors this year, this month has been volatile for the coin, which has lost and gained zeros several times this month.
After its remarkable and significant gain from all-time lows, PEPE entered an interesting technical setup.
In September, PEPE saw an impressive growth up to $0.0011, before entering its current consolidation phase around the $0.0009 level. The technical picture is now showing signs that might be of interest to traders: The RSI has settled into neutral territory, often a precursor to a resumption of price action after a period of downward pressure.
Particularly important is the formation of higher lows since mid-September. Despite the recent downward price trend, trading volumes remained stable, suggesting sustained market interest throughout the consolidation period.
According to a ReadWrite analyst, “a breakout from the current pennant could propel PEPE’s market capitalization to $20 billion, which would bring its price to approximately $0.000596.”
PEPE investors should closely monitor whether the coin can achieve this rally.
Solana emerges as the second largest blockchain for NFTs, after Ethereum
Solana (SOL) and its meme coins have seen huge success over the last year, with SOL rebounding from the FTX scandal lows of around $10, all the way up to $174. Even after the weekend drop, Solana is one of the few coins firmly in the green, posting gains of 9%.
So where do all these meme pieces come from? Solana has always been popular for NFTs, and continues to do so, as shown by its recent rise to #2 in NFT sales by volume.
Solana has always been associated with meme coins and NFTs.
In 2023, they made the strategic decision to launch a Solana “Saga” phone, accompanied by an airdrop of 30 million BONK tokens. At the time of the phone’s launch (completely pre-ordered by SOL fans), it was worth way more than the retail price due to the drop.
This appeal for memes has become bigger than ever in 2024 due to the release of Pump.fun – a Solana-based coin deployer. Pump.fun makes it easy for anyone to release a meme coin for around $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 rising as its popularity for meme coins and NFTs increases.
For more information on the Cutoshi (CUTO) presale: Cutoshi website
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