Dogecoin demonstrates why it is the king of memecoins. Its community is pushing the token to multi-year highs, leaving many smaller tokens in the dust.
This and smaller tokens like Popcat and Cutoshicompete.
Dogecoin shows impressive growth
Dogecoin (DOGE) has been one of the top coin performers this cycle. Despite its huge market capitalization, Dogecoin continues to show its strength. He got up 178.06% last monthhitting multi-year highs and stabilized at $0.4082.
Source: CMC
The main catalyst for Doge’s growth has been billionaire Elon Musk’s commitment to the token. After driving the token to its ATH in 2021, Musk is pushing Doge into the mainstream. The billionaire got a position in the Trump White House, within the Department of Government Effectiveness (DOGE).
This attention once again activates the Doge community and pushes more traders to get started. The technicals are very strong for Doge, especially the moving averages, which indicate a strong buy. If Doge manages to cross the $0.41 mark, it is ready to test its ATH levels.
Popcat sees mixed performance
The based on Solana Popcat the token has seen mixed performance. Like most meme coins, other than Doge, it has largely underperformed this cycle, with utility tokens taking the spotlight.
Popcat saw a Increase of 8.36% over the past 30 days, reaching $1.39. Despite this, Popcat entered a volatile period this week, hitting a monthly low of $1.1. The price movements show that Popcat’s prospects are deteriorating in the near term.
Source: CMC
Unsurprisingly, the technical aspects are also mixed for the token. Moving averages are negative for the token, while oscillators remain neutral. The reason is the withdrawal of memecoins and the enthusiasm for projects with an emphasis on utility.
For example, XRP and Cardano both outperformed during the previous cycle, leaving meme coins in the dust. As traders turn away from typical memecoins, Popcat could be in trouble in the near future.
MemeFi Cutoshi Token Raises Over $1.29 Million
While most memecoins are struggling, one is quite the opposite. Cutoshi (CUTO) has attracted considerable attention, thanks to its unique blend of memecoins and DeFi utility.
In early December, Cutoshi raised $1.27 million in pre-sale investments, just weeks after sales began. This shows that investors are looking for memecoins that offer more than just memes. For his part, Cutoshi is building a DeFi ecosystem while using memes to engage his community.
https://x.com/thelukks96/status/1862509671120347627
At the heart of its ecosystem will be the Cutoshi DEX, aiming to make DeFi more accessible than ever. It will allow trading on most major chains, with an intuitive interface and low fees. At the same time, Cutoshi will also offer a learning platform, helping new traders get started in DeFi.
DeFi has significant advantages for traders, both in terms of security and fees. For example, DeFi platforms allow users to retain custody of their assets, preventing bad actors from misusing their funds. However, centralized exchanges still dominate the field. This is why projects like Cutoshi could have a positive impact on the crypto landscape by attracting more people to DeFi.
For more information on the Cutoshi (CUTO) presale:
Join and become a member of the community:
https://twitter.com/CutoshiToken
https://t.me/cutoshi
This is a sponsored post. The opinions expressed are solely those of the sponsor and readers should conduct due diligence before taking any action based on the information presented in this article.