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Dogecoin Achieves Over 1% Market Dominance with Significant Upside of Over 22%; Meanwhile, Cutoshi’s DeFi ecosystem is attracting investors and Kaspa is catching up.
Dogecoin’s (DOGE) recent price resurgence has pushed its market dominance from mid-October levels of 0.74% to over 1%. While this marks a milestone for the legacy meme coin, it has also brought investor attention to other promising meme coins like Cutoshi (CUTO).
Notably, the burgeoning pre-sale star is positioning itself as a major disruptor in the crypto market, thanks in large part to its hybrid ecosystem with DeFi integration. Meanwhile, another top altcoin, Kaspa (KAS), is also in the spotlight after a notable recovery following a month-long consolidation.
Rapid progression of Cutoshi pre-sales sparks growing interest
Ethereum-based memecoin Cutoshi has raised over $680,000 in presales, positioning it as a fast-growing crypto project. Essentially, Cutoshi adheres to Satoshi Nakamotos’ Bitcoin core principles of decentralization, privacy, and monetary freedom. As such, Cutoshi hosts a DeFi hub featuring a DEX platform that facilitates cross-chain and P2P crypto transactions.
Additionally, Cutoshi has a custom farming mechanic that grants users additional tokens as well as complementary NFTs and Merch when they participate in specific quests. While this presents Cutoshi as a lucrative platform, its native deflationary token, CUTO, ensures the long-term growth of the meme project. With its buyback and burn system, the CUTO token is designed to gradually increase its value over time.
Meanwhile, Cutoshi hosts a DeFi learning center designed to spread knowledge about DeFi while eliminating financial illiteracy. This strong move is sure to boost the growth of Cutoshi as a hybrid coin. With greater recognition among top DeFi coins, the CUTO token can potentially surpass Dogecoin and Shiba Inu, especially as it is expected to see a 100x increase from its current price of $0.022 as the milestone 2 is coming to an end with over 88%. exhausted.
Dogecoin Market Dominance Increases Amid Price Recovery
Dogecoin has seen impressive growth over the past month, rising over 60% from an entry price of $0.105 to reach a monthly high of $0.177. Although it has since slightly returned to a current price around $0.167, DOGE price still maintains a generally bullish trajectory.
Currently trading in a weekly range of $0.138 to $0.167, DOGE price reflects an increase of over 20% over the past week. At the same time, the recent rise in DOGE price not only pushed its market dominance above 1%, but also significantly contributed to the price recovery since the beginning of the year.
After hitting a yearly high price of $0.220, DOGE price suffered a significant decline that took it back to $0.092, before finally regaining its bullish momentum. Interestingly, technical analysis of Dogecoin, including its moving averages, indicates strong buying, suggesting that DOGE price will likely surpass its 6-month ATH in the coming days or weeks.
Kaspa Price Retracement Accelerates Amid Renewed Interest
After a month-long price decline, Kaspa is finally regaining its bullish momentum, as observed in the weekly chart below. Although the KAS token is still sailing in the negative zone, the recent uptrend suggests an imminent price breakout, especially if the current momentum persists.
Meanwhile, taking a close look at the year-to-date price trajectory, KAS price reflects an increase of almost 130% over the past year. Although the KAS token still maintains a generally bullish outlook, token holders are confident for a bullish fourth quarter, with 86% of the more than 38,000 community members on CoinMarketCap voting in favor of a bullish price trajectory.
On the contrary, Kaspa’s technical analysis indicates strong selling, which suggests that it may be some time before the bullish projection materializes.
Can Cutoshi lead Dogecoin and Kaspa this fourth quarter?
Unlike Kaspa, whose optimistic and bullish Q4 projection remains uncertain, Dogecoin has demonstrated exceptional performance over the past month. Interestingly, the current Dogecoin trend appears sustainable, judging by its technical analysis.
However, Cutoshi has a chance to surpass Kaspa and Dogecoin largely due to its pre-sale token status and diverse market appeal. Meanwhile, it is not enough to view Cutoshi as a disruptive token, but as one with lucrative potential. This is also evident in its ongoing Halloween campaign which offers up to 20% off bonus on every token acquisition for a limited time.
To learn more about the Cutoshi presale, visit the official website.
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