The market is in euphoria mode and the crisis of summer 2024 is only a distant memory. Ambitious predictions are increasing, with Shiba Inu (SHIB) taking the spotlight as talk of a possible $1 target continues to circulate. Meanwhile, Solana (SOL) has entered a mini cooling phase as bulls recover the decline.
A Newcomer in the Coin Space — Cutoshi is also making headlines as investors flock to the viral presale of its native token $CUTO, which has already raised over $1 million in record time.
Shiba Inu consolidation continues as buying pressure builds
Crypto analyst Javon Marks has common a Shiba Inu chart reading X, highlighting a hidden bullish divergence trend that could see SHIB surpass its 2021 highs in the coming months.
This is already in play, as in the last month alone, Shiba Inu has surged 70%, with SHIB price peaking at $0.000029. As traders booked profits, Shiba Inu retraced its price, settling around the $0.000024 mark.
The most pressing question remains: will the Shiba Inu ever reach $1? While this is unlikely in the near term, given Shiba Inu’s market cap of $14.3 billion and token supply of $589 trillion, Shiba Inu has an ace up its sleeve; the Shibburn mechanism. Through methodical token burns, the supply of Shiba Inu is constantly depleted, which not only increases scarcity, but also stimulates price action. However, this mechanism will need to start burning billions of tokens every day for the $1 target to become a realistic scenario in the coming years.
Even though Shiba Inu could still reach a new all-time high by the end of the year, it could be significantly outperformed by undervalued projects like Cutoshi, which has much more room to grow, given its smaller market capitalization.
Solana whales benefit from the sale
After hitting a new all-time high of $263 just a week ago, Solana has seen a pullback, intensified by a market-wide correction. As of press time, Solana retails for $233.
Despite the current near-term crisis, a series of catalysts are lining up for Solana which could see its price skyrocket above $500 in early 2025.
On-chain data shows that large wallets have stepped in to buy Solana’s dip. The Lookonchain portfolio tracker has watch receipts of a whale snatching up 100,000 SOL tokens in a series of transactions, spending over $23 million.
Additionally, a Solana ETF could be on the horizon, with fund managers BitwiseInvest and VanEck having already filed for approval with the SEC. According to VanEck boss Matthew Sigel, a Solana spot ETF could become a reality by the end of 2025.
Why Cutoshi is the next meme gem
Cutoshi is inspired by the mythical lucky cats of Japanese tradition, believed to bring wealth and good fortune to businesses. But beneath the cute and lightweight surface, Cutoshi has a cutting-edge DeFi exchange that could give established platforms like Uniswap a run for their money.
Users will have the opportunity to participate in many lucrative activities under the Cutoshi Farming mechanism. During and after the pre-sale, they will be responsible for completing various missions and tasks and participating in special events. As a reward for their efforts, they will receive cutopoints which can then be exchanged for more $CUTO once the token hits the markets.
Just yesterday, Cutoshi launched a meme contest with a prize pool of $2,000. This initiative encourages community members to share their best memes while raising awareness of Cutoshi and strengthening its presence on social media.
$CUTO Stage 3 is over 80% complete and investors who act now can stock up on $CUTO tokens at the discounted price of just $0.0259. With its DeFi utility and lucky aura, Cutoshi could surpass major coins such as Shiba Inu and follow in their footsteps towards a lunar mission in 2025.
For more information on the Cutoshi (CUTO) presale:
https://cutoshi.com/
Join and become a member of the community:
https://twitter.com/CutoshiToken
https://t.me/cutoshi