What Cryptocurrency Whales Are Buying This December That Is Not Dogecoin Or Cardano

As the crypto market enters a bull run, whales are skipping the DOGE and Cardano rally and flocking to an emerging altcoin, Cutoshi (CUTO). Due to its enormous growth potential and growing community, Cutoshi has been trending on X for some time and sees massive participation in its token presale.

Dogecoin (DOGE): Demand Keeps Falling As Price Consolidates

Following the recent rally, Dogecoin has been consolidated for over three weeks. This consolidation is because it faces rejection from a crucial trendline that joins the current price to the two peaks in March 2024. With the rally, Dogecoin surged over 100%, reaching the $0.48078 price level.

However, Dogecoin has plunged over 12% from this level to trade at $0.4195 at press time. Due to the extended price consolidation, the price has dropped below its 10-day Simple Moving Average (SMA) multiple times this week and the Relative Strength Index has declined to 63. Still, Dogecoin is surfing above its 20-day SMA.

The Moving Average Convergence and Divergence (MACD) oscillator for Dogecoin has also dropped below the signal line, indicating an increase in bearish pressure. As the Dogecoin price has lost momentum, many crypto whales are moving towards more promising projects to help sustain their portfolios growth.

The Cardano (ADA) Rally Slows As Price Uncertainty Arises

The Cardano price broke out of an extended sideways price action on 8 November 2024 and has gained over 200% within a month. This breakout resulted in a massive demand for Cardano and the price moved past the significant resistances near the $0.655, $0.82 and $1.15 price levels with minor pullbacks.

Over the last 24 hours, Cardano has dropped over 6% and trades at $1.23. The daily trading volume has also dropped significantly by over 25%, showing a decrease in demand. Yesterday, a Doji with large wicks had formed on the daily chart for Cardano, indicating indecision among the bears and bulls.

Cardano has immediate resistance at $1.24201 and another at $1.32408. If the price undergoes another correction, Cardano may drop to take support at $1.15, but if the correction is more profound, another support is at $1.05.

Cutoshi (CUTO): Utility Meme Coin Rivals DOGE And ADA

Due to its hybrid nature, Cutoshi is challenging Dogecoin and Cardano and showing immense potential to outperform these altcoins. It has merged the fun of a meme coin community and the practicality of a utility token to deliver a memeFi ecosystem to the community members. Cutoshis meme element is inspired by the Chinese Lucky Cat, which Asian people keep in their homes to draw its lucky powers and benefit from good fortune.

A decentralized exchange is the most essential part of DeFi, allowing users to exchange digital assets efficiently. Thus, Cutoshi has introduced its multi-chain DEX, offering users peer-to-peer asset swaps at unmatched speed for a tiny 0.25% trading fee. Moreover, it uses 80% of the transaction fees for the buyback and burn mechanism, which helps boost its tokens value.

Community members can also actively boost the tokens growth and earn simultaneously through Cutoshi token farming. It includes engaging quests and challenges designed to spread the projects reach. Members get paid in CUTO points for helping the project grow and can convert these points to CUTO tokens post-launch.

CUTO is currently valued at $0.031 in presale stage four. After clearing stage three, Cutoshi raised over a one point two million dollars and the token gained over 106% in price since stage one, where CUTO was valued at $0.015. Many early holders are also adding funds into existing positions as the token value will keep increasing as the presale progresses to further rounds.