One of the main drivers behind the growth of the Shiba Inu (SHIB) is its built-in burning mechanism. But what happens if the combustion rate slows down? This could significantly reduce Shiba Inu price appreciation due to rarity.
Many Shiba Inu holders are already preparing for this scenario and are hedging their positions by rotating their funds into Toncoin (TON) and Cutoshi (CUT). Cutoshi, in particular, is often seen as a trend on X, as it has been steadily gaining traction as one of the very few utility-focused coins.
Shiba Inu recovers a key resistance, will it hold?
After peaking at $0.000029, selling pressure intensified, causing a retracement that slowed the momentum of Shiba Inu (SHIB). Today, the Shiba Inu is selling at $0.000026 after a 3% rebound from lower levels. However, Shiba Inu is still trading in a tight range and needs a more decisive breakout to continue its upward trajectory.
Long-term outlook for the Shiba Inu is more than positive, says InvestingHaven analyst underlines on
So far, 41% of Shiba Inu’s supply has been burned, representing approximately 410 trillion SHIB tokens. Aside from the major burning event which saw 5 trillion tokens incinerated, an average of 3.2 million tokens have been removed from circulation each day over the past few weeks. This may seem like a lot, but given that the circulating supply is in the hundreds of billions, it could take years before this deflation begins to have a tangible effect on the Shiba Inu price.
Toncoin tries to escape with an 18% weekly increase
Toncoin has gained popularity because it is essentially the blockchain extension of Telegram, one of the most popular messaging apps on the planet. Although the arrest of Telegram founder Pavel Durov in late July injected a massive dose of turbulence into an already bearish summer, Toncoin managed to rebound and its momentum continues to grow.
After a few months around $5, Toncoin (TON) broke out of its trading range with a 30% monthly rise that allowed it to break through several resistance levels before settling around $6.50.
CryptoBullet Analyst shared a chart reading that further reinforces Toncoin’s bullish thesis. Toncoin has retested the ascending trendline and appears to be preparing for another rally that could see it reach $12 in the coming months.
Cutoshi Leads a Utility-Focused Meme Revolution
Cutoshi brings together memes and DeFi into a holistic ecosystem that empowers and rewards its community. $CUTO DEX is Cutoshi’s flagship feature; it is an innovative exchange that enables fast cross-chain transactions.
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Additionally, Cutoshi offers incentives for users to engage with the platform through the Cutoshi Farming initiative. During and after the pre-sale, individuals will have the opportunity to participate in special events and complete various tasks in exchange for CUTO Points, redeemable for $CUTO tokens.
Plus, until December 4, $2,000 in prizes are up for grabs in the Cutoshi Meme Contest. To learn more, check out Cutoshi official X account.
To further strengthen Cutoshi’s online and offline presence, merchandise and NFTs will soon be launched, allowing the community to spread kindness and good fortune everywhere. Speaking of good fortune, Cutoshi has a pedigree that spans centuries, as he draws inspiration from the Lucky Cats of Japanese legends.
Step 3 of $CUTO the presale is almost sold out and the tokens are available at just $0.0259. More than $1.2 million has been raised in record time as demand continues to grow.
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