As Cutoshi goes live on CoinMarketCap, we explore what this coin and team plan to do in a merge of utility and meme coin. PEPE grows and lists in Japan then retraces as volatility remains high, while Floki follows a similar pattern, affected by a US election rally.
Longevity And Utility In The Meme Coin Market
Memes have been one of the best-performing categories of coins in 2024. But for all the successes in the meme world, many briefly pumping meme coins are quickly abandoned for a new and shinier coin.
Cutoshi aims to solve this longevity dilemma with a hybrid coin that is part meme and DeFi ecosystem.
The idea is that by bringing utility and DeFi to those who might not normally be able to access it, Cutoshi can have the staying power of some of the top meme coins such as Floki Inu.
Cutoshi is a fun meme of the Chinese Lucky Cat which is a symbol of prosperity around the world. It's also named after BTC creator Satoshi Nakamoto, which provides a hint at the more serious side of Cutoshi’s vision.
They see that Defi helps to achieve Nakamoto’s dream for Bitcoin and blockchain technology - offering privacy, decentralization, and monetary freedom.
Cutoshi will bring this to their community by building a Dex that works across various blockchains and from peer to peer, with low swap fees. They will also allow the community to stake and provide liquidity, and participate in quests and farming that will grant them CUTO tokens. There will also be a learning portal to help onboard people to web3, while having fun.
As the CMC Cutoshi listing shows, CUTO is capped at 440 million tokens and the coin has a market cap worth around $9M.
This means that currently, investors are very early, and if Cutoshi’s hybrid ecosystem is a success, the room for potential long-term growth is massive.
Written by seasoned experts, who have over 16 years of experience in Free Zones development. Learn more.
PEPE Gains Ground With Japanese Market Entry
PEPE is making history as the first meme coin to secure an official listing on a Japanese crypto exchange.
BITPoint Japan, a regulated exchange with FSA approval, now offers PEPE spot trading, lending, and savings services. This is significant for the third-largest meme coin, which currently holds a $4B market cap.
The resulting price action was positive, with PEPE up 8.49% in 24 hours to $0.00000966. This comes despite significant whale activity - one whale moved 1.28 trillion PEPE (worth about $11.5M) to Binance on October 28.
While this large transfer to Binance could signal selling pressure, the overall market momentum and BITPoint's promotional campaigns (including a 100,000 yen in PEPE lottery) might help maintain PEPE's upward trend.
The next key price target level to watch is $0.00001, which would mean dropping a zero.
PEPE is currently trading at $0.000009337, having retraced slightly over the last day.
Market Performance And Prospects For FLOKI
Three-year-old FLOKI coin, up 171,583% since its launch on CoinMarketCap, has floundered a little recently, being in the red on all time frames except the yearly. However, the price rose 9% following the spike in meme coins and crypto caused by the Trump presidential rally where Elon Musk was a guest speaker.
One of the reasons for FLOKI’s underperformance may be that the coin is already very large, and the ecosystem is big. Like Cutoshi, Floki Ini has sought to combine meme and utility, and create an ecosystem that focuses on gaming, DeFi, and charity work.
But Floki is also concerned with the larger meme coin world as well as rewarding their community, acquiring the meme coin project Simon’s Cat in August for a valuation of $20 million, and then later giving out $CAT airdrops to their holders.
Although Floki’s biggest gains may be behind it, (although AMBcryto analysts suggest it may be ready for a breakout), it’s worth remembering that community members and traders would now have made over $1.5 million with an initial investment of $1000, if they got in early enough.
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