Will Shiba Inu Reach $1? The Impact Of New Popular Meme Coin Cutoshi On The Crypto Market Place, WIF Investors Join The Race
Bitcoin launched the week on the front foot, crossing its long-term $70,000 resistance and urging the top meme coins like Shiba Inu (SHIB) and Dogwifhat (WIF) into rallies. Check back five days later, and BTC and its meme coin followers are back to support levels. The Shiba Inu coinis in correction, and the WIF token is caught between multiple factors. In all that drama, Cutoshi(CUTO) is an attractive meme coin and Defi combination.
Shiba Inu's Burn Rate Hits 252,900%: A Bullish Spark?
The Shiba Inu (SHIB) is almost directly linked to Bitcoin's price movements, so any fluctuation in the pioneer token impacts the Shiba Inu price.
However, while many of the meme coins are in decline and without hope of a short-term surge, Shiba Inu (SHIB) has its burn protocol to fall back on. As of October 31, about 5.6 billion SHIB tokens were burned within 24 hours, representing a 252,900% spike in the burn rate.
Source: CoinMarketCap
Any talk of a bullish surge on Shiba Inu (SHIB) would start with Shiba Inu coin reaching its $0.00001973 monthly high. From there, SHIB bulls can now urge it forward. But for now, the SHIB price has a slim 1.29% weekly growth with minor intraday losses.
WIF Coin Price Predictions Cautious Amid Election Uncertainty
They are both meme coins, but the causes of fluctuations on Dogwifhat (WIF) are quite different from Shiba Inu's. Sure enough, Bitcoin's influence might have contributed to the WIF tokens decline, but the tension around the US elections is making everything seem a lot worse.
Dogwifhat (WIF) has been tipped for a $3 surge if the elections go Solana's way. The meme coin exists on the Solana network, and a dip in Solana's value could also negatively affect the WIF token.
WIF coin price predictions are quite cautious at the moment, considering the elections are only days away. Crypto analyst Ali Martinez suggests that Dogwifhat (WIF) will surge to $3, breaking its $2.6 resistance.
Source: CoinMarketCap
Solana, the US elections, and Bitcoin's dip all stand in WIFs way. Right now, the WIF price is bleeding down the charts. The token has lost 7.09% in the last seven days, and the decline isnt even slowing down.
Combination Memes And Defi On Cutoshi
The Cutoshi (CUTO) project stands out for how it incorporates Defi utility into the meme sector. The project draws its meme inspiration from the Chinese Lucky Cat and hopes it can bring good fortunes to its investors. Also, Cutoshi seeks to advance Satoshi Nakamotos dream of financial freedom and literacy for all through blockchain technology.
Cutoshi features an academy to help Defi enthusiasts acclimate properly to the crypto market industry. Instead of grappling with complex concepts and terminologies, the academy is an opportunity to get used to the winding crypto terrain before entering the market.
The project also features a DEX where users can swap and trade assets without having to worry about third-party aids. Further, the Cutoshi DEX provides the CUTO token with utility, as the token would be the native token for fee payments on the DEX.
For a consistent price trajectory, Cutoshi has marked out 7% of its total token supply for burning. This deflationary measure would keep the CUTO token afloat of inflation and increase the tokens value as demand increases with time.
The CUTO presale is on and 80% into the second stage, where its currently selling at $0.022. With stage 3 of the presale imminent, the CUTO price is set to spike again. Interestingly, Cutoshiis celebrating Halloween, and buyers now get 20% more on their purchases for the next five days.
How High Can CUTO Go?
Shiba Inu and Dogwifhat are giving up their recent gains, and their investors have found solace in the new Cutoshi project. The project combines Defi and meme features in a unique blend that has the potential for maximum gains.
For more information on the Cutoshi (CUTO) Presale:
Join and become a community member:
https://twitter.com/CutoshiToken
Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
Text source: Crypto Daily™
