Memecoin powerhouse Shiba Inu has seen selling pressure in the past few days, indicating interest from traders. At the same time, memeFi token Cutoshi, and Sui are set for huge increases in October.
Shiba Inu Sees Declining Interest
Memecoin giant Shiba Inu (SHIB) is struggling to maintain its valuation, as traders lose interest. According to CoinMarketCap, Shiba Inu declined 10% on October 10, with further declines likely.
The reason for this is a decline in Shibarium activity. Shiba Inu’s Layer 2 network has seen a collapse of activity. In fact, fees declined to an average of 0.005 BONE, a 91% drop. This decline showcases that traders are losing interest in the network.
What is more, the decline in Shibarium activity has a direct effect on Shiba Inu’s burn mechanism. Because a portion of all gas fees goes to burning SHIB, a decline in volume also means that the burn rate is down. Without the added buying pressure and scarcity, Shiba Inu is struggling to maintain its price.
Still, community sentiment for Shiba Inu is overwhelmingly positive. According to CoinMarketCap, over 87% of community members expressed positive sentiment to SHIB recently.
SUI Doubles In A Month, Overtakes Near Protocol
Layer 1 sensation Sui is in the news again for its impressive performance. On October 12, Sui rose 8.20% in just a day, rising in crypto rankings. Over the last 30 days, Sui more than doubled in value, registering a 119.02% growth rate. This brought Sui to its all-time high, the first time since March this year.
The latest surge helped Sui flip Near Protocol in market cap, becoming the 17th largest crypto out there. Now, Sui is trailing giants like Polkadot and Bitcoin Cash. As it speeds forward, it has the potential to become even bigger. Community sentiment is also strong, at 82% positive on CoinMarketCap
Written by seasoned experts, who have over 16 years of experience in Free Zones development. Learn more.
Sui’s main selling point is its attempts to be both developer and user-friendly. The blockchain has very low fees and high speed, making it attractive for DeFi applications. For that reason, and thanks to its strong team of former Facebook employees, traders are expecting big things. Further price increases are very likely in the near future.
Cutoshi Wins With Explosive Presale
While Sui has strong potential, Cutoshi (CUTO) is even more promising. This memeFi token combines the utility of DeFi with the viral appeal of memecoins. It is based both on the Chinese Lucky Cat and Satoshi’s teaching, the legendary Bitcoin creator.
Just like the lucky cat, Cutoshi will bring luck and prosperity to your portfolio. At the same time, it is building a complete DeFi ecosystem with privacy, decentralization, and freedom as its core principle. At its center will be the Cutoshi Multichain DEX, enabling everyone to trade without restrictions.
Its ecosystem will also feature farming rewards, NFTs, a learning academy, and more. Because of its strong vision and meme coin appeal, experts are predicting a surge. The token could show 10x this October, from its current presale price of $0.022. With a low fixed supply of just 440 million and deflationary features, Cutoshi has a realistic shot at reaching $1.
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