During the launch of Cutoshi on CoinMarketCap, we explore what this coin and the team are planning to do with the merging of the utility coin and the meme coin. PEPE grows then declines in Japan as volatility remains high, while Floki follows a similar pattern, influenced by the US electoral caucus.
Longevity and utility in the coin market
Memes have been one of the best performing coin categories in 2024. But despite all the success in the meme world, many briefly minted meme coins are quickly being abandoned for a newer, shinier coin.
Cutoshi aims to solve this longevity dilemma with a hybrid currency that is part of the Meme and DeFi ecosystem.
The idea is that by bringing utility and decentralized finance (DeFi) to those who might not normally have access to it, Cutoshi could have the staying power of some of the top memecoins like Floki Inu.
Cutoshi is a fun meme of a lucky Chinese cat that is a symbol of prosperity all over the world. It is also named after BTC creator Satoshi Nakamoto, providing a hint at the more serious side of Kotoshi’s vision.
They see Defi as helping to realize Nakamoto’s dream of Bitcoin and blockchain technology – providing privacy, decentralization and monetary freedom.
Cutoshi will bring this to its community by building a Dex that runs across different blockchains and peer-to-peer, with low swap fees. They will also allow the community to stake, provide liquidity, and participate in quests and farming which will award them CUTO tokens. There will also be an educational portal to help people join web3 while having fun.
As the CMC Cutoshi listing shows, the cap for CUTO is 440 million tokens, and the market cap of the coin is around $9 million.
This means that investors are currently very early stage, and if Cutoshi’s hybrid ecosystem is successful, the scope for potential long-term growth will be enormous.
PEPE gains as it enters the Japanese market
PEPE makes history as the first meme coin to gain an official listing on a Japanese cryptocurrency exchange.
BITPoint Japan, an FSA-approved regulated exchange, now offers PEPE instant trading, lending and savings services. This is significant for the third largest meme coin, which currently has a market capitalization of $4 billion.
The resulting price action was positive, with PEPE price rising 8.49% in 24 hours to $0.00000966. This comes despite significant whale activity – with one whale transferring 1.28 trillion PEPE (worth about $11.5 million) to Binance on October 28.
While this large transfer to Binance could indicate selling pressure, overall market momentum and BITPoint’s promotional campaigns (including a 100,000 yen PEPE lottery) may help sustain PEPE’s upward trend.
The next major price target level to watch is $0.00001, which means zero down.
PEPE is currently trading at $0.000009337, having retreated slightly over the past day.
Market performance and prospects of FLOKI
The three-year-old FLOKI coin is up 171,583% since its launch on CoinMarketCap, and has faltered a bit recently, being in the red on all time frames except the annual one. However, the price rose by 9% following the huge rally in digital currencies and cryptocurrencies caused by the Trump presidential rally where Elon Musk was a guest.
One reason for FLOKI’s poor performance may be that the coin is already very large, and the ecosystem is large. Like Cutoshi, Floki Ini sought to combine memes and utility, creating an ecosystem focused on gaming, decentralized finance, and philanthropy.
But Floki is also interested in the world of larger meme coins as well as rewarding their community, acquiring meme coin project Simon’s Cat in August for a $20 million valuation, and later distributing CAT drops to holders.
Although Floki’s biggest gains may be behind it (although AMBcryto analysts suggest it may be ready for a breakout), it’s worth noting that community members and traders would have now made over $1.5 million with an initial investment of $1,000, if they entered early. enough.
For more information about the Cutoshi (CUTO) presale:
https://cutoshi.com
Join and become a member of the community:
https://t.me/cutoshi
