After nearly eight months of correction, Dogecoin (DOGE) is finally gaining momentum. It recently broke out of the falling wedge pattern, and since then, bulls have taken charge. But DOGE is still trading 40% below its March swing high.
In the meantime, the prolonged correction in Dogecoin has led investors to explore new opportunities. Investors are now turning their attention to other meme coins, and Cutoshi has attracted significant interest from DOGE investors. Cutoshi, the latest utility meme coin, is being recognized as a potential alternative to Dogecoin.
Grayscale Added Dogecoin To The Potential Product List
Grayscale has added 35 altcoins, including Dogecoin, Worldcoin, Pyth, and Rune, to its list of assets “under consideration” for future investment products. Dogecoin (DOGE) is being considered under Grayscale’s “consumer and culture” category, alongside existing products like Basic Attention Token (BAT) and Decentraland (MANA).
Dogecoin's price has surged 27% over the past week. If this bullish momentum continues, we can see DOGE's price hitting a new swing high by the end of the year. However, adoption rates for Dogecoin have dropped sharply, with fewer holders and active wallets since October 8, 2024. On-chain data from Santiment shows a decline of about 106,600 non-empty wallets, highlighting frustration among Dogecoin holders due to its stagnant performance.
At a recent event, at a rally supporting Donald Trump's presidential campaign, a member of the audience asked Elon Musk about his idea for a "Department of Government Efficiency." Musk responded with a grin, saying, "Yeah, D.O.G.E.," which instantly got the crowd cheering and applauding. Soon after, the price of Dogecoin surged as the comment spread across social media.
Cutoshi Leads With High Demand In The Second Stage
Dogecoin has gained widespread recognition in the crypto world, but the meme coin market could soon see a shift with the arrival of Cutoshi, a new player still in its presale phase. Cutoshi combines innovative technology with a fresh approach that could potentially reshape the meme coin space.
Inspired by the Chinese Lucky Cat, Cutoshi appeals to both seasoned traders and newcomers. Whether investors are interested in quests that reward them with tokens or want to trade safely across different blockchains, Cutoshi offers something for everyone.
Written by seasoned experts, who have over 16 years of experience in Free Zones development. Learn more.
Cutoshi’s DeFi hub stands out with its custom decentralized exchange (DEX), staking protocol, and farming mechanism. These features allow users to participate in community-driven quests to earn rewards, which could be in the form of the native $CUTO token, NFTs, or merchandise. The platform also includes a learning academy to promote DeFi education.
In stage 2 of its presale, the CUTO token is priced at $0.022, and early investors have already seen a 46% return as the price has risen. Experts predict the token could see 150x growth in the coming months, and CUTO is already listed on CoinMarketCap, with more listings expected soon.
Conclusion
While Dogecoin has gained a lot of attention and also given exponential returns in its early days, investors are now shifting towards utility coins. Cutoshi mixed both utility and meme coin perspectives, and it has made it the best meme coin available in the market.
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