Ethereum (ETH) is once again taking the spotlight as it continues to march forward while most other altcoins are facing declines amid the market-wide correction. Pepe (PEPE) continues to gain massive traction as whales take advantage of the dip to load up on more coins.
Meanwhile, a new star is rising, Cutoshi, a trending new meme coin that boasts a complete DeFi ecosystem coupled with an intriguing reward mechanism.
Ethereum Gains 5% While Most Of The Market Crashes
Ethereum (ETH) has been consolidating around $3,500 for over a week now as traders are taking their positions in anticipation of the next leg up. Today, Ethereum sells for $3,490 with a 5% intraday increase and a total of 38% gains for the month. Ethereum is also gaining ground against Bitcoin. After bottoming out at 0.032 during the November Bitcoin run, Ethereum rose by 10% over the last week and is currently sitting at 0.037 on the ETH/BTC chart.
The next obvious target for Ethereum is the $4,000 mark, which could come sooner than expected, given the bullish market conditions and Ethereum’s renewed strength. Institutional money has taken notice, as reflected by the $2.8 million in net inflows recorded for Ethereum ETFs over the last day.
Technical analysis shows that Ethereum still has a lot of room for growth, with the weekly RSI sitting at 60 points. This signals rising buyer interest while simultaneously being still far from overbought territory, which typically marks local tops.
Source: TradingView
Bulls And Bears Are Fighting On The Pepe Chart
After a memorable 200x run, Pepe (PEPE) is among the few meme coins that are here to stay. Pepe claimed the 3rd place on the meme coin leaderboard and is now the 19th largest cryptocurrency with a $7.7 billion market cap. Over the last month alone, Pepe recorded a 200% price increase that saw it reach a new all-time high of $0.0000248. Today, Pepe trades at $0.0000184 with an 8.7% daily decrease.
The chart shows that over the last few days, bulls and bears have been locked in combat around this price point. However, this struggle is but a mere blip on the map for Pepe, as it is about to enter escape velocity, according to analysts.
In a post on X, crypto expert Zaza pointed out that on the macro level, Pepe has been printing a bull flag chart pattern. If a breakout above the short-term descending trendline is confirmed, Pepe is expected to soar much higher.
Written by seasoned experts, who have over 16 years of experience in Free Zones development. Learn more.
The bullish sentiment around Pepe is also reflected by the growing number of holders, which just recently reached a new peak of 330,000.
Cutoshi Could Kick Start A New Meme Revolution
Cutoshi sets itself apart from run-of-the-mill meme coins as it boasts a 360-degree DeFi ecosystem with CUTO DEX as the base of operations. This is a non-custodial cross-chain exchange that will allow for near-instantaneous transactions across previously disconnected blockchains.
Cutoshi wants its community to thrive and for this reason, Cutoshi Farming was envisioned. Through this initiative, community members will be tasked with completing various quests and missions aimed at boosting Cutoshi’s presence on social media. For their efforts, they will receive Cuto points which can then be redeemed for $CUTO tokens. Just the other day, Cutoshi launched a meme contest with $2,000 in prizes awaiting the best meme posters. To learn more, head over to Cutoshi’s official X account.
Stage 3 of the Cutoshi presale has nearly sold out and over $1 million has been raised in record time. With $CUTO tokens priced at just $0.0259.
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