Two major narratives drive the crypto market in December: memes and utility. Cardano (ADA) is one of the hottest projects in the space right now, as it climbed back into the crypto top 10 with a triple-digit monthly surge.
However, the recipe for sure-fire success can be found in utility-focused meme coins. Shiba Inu (SHIB) and Cutoshi (CUTO) in particular, are among the most prominent examples. Shiba Inu needs no introduction, as it has already claimed its place in the crypto lore.
Cutoshi on the other hand, is still flying under the radar, but this is about to change soon as thousands are flocking to its viral presale, which has just surpassed $1.35 million in raised funds.
Cardano Retraces Amid Correction, Bulls Remain Unfazed
After peaking at $1.30, following a memorable 300% rally, Cardano faced a correction exacerbated by the market-wide downturn and is currently selling for $0.99 with an 11% intraday decrease. However, in a bull market, common sense suggests that “dips are for buying” and buyers are already stepping in to grab more Cardano at discounted prices.
This is also reflected by the 100% surge in volume, with roughly $3.8 billion worth of Cardano traded across exchanges in the last 24 hours. Whales are now accumulating huge amounts of Cardano and over the last week alone, they bolstered their positions by over $276 million, according to analyst Julia.
Recently, founder Charles Hoskinson made headlines with his intention to partner with Ripple Labs. The goal is to bring their highly-anticipated RLUSD stablecoin to the Cardano network and further expand Cardano’s reach.
Shiba Inu Caught In The Whirlwind, Drops 11% But Support Is Rock-Solid
The turbulence hasn’t spared Shiba Inu (SHIB) as it experienced an 11% pullback in the last 24 hours after retesting the $0.000032 resistance level. At the time of writing, Shiba Inu sells for $0.000026 after sweeping liquidity at the $0.000025 floor. Judging by the current market climate, for the time being, Shiba Inu will be hovering around this mark before breaking out.
Whales are taking advantage of the disruption and according to on-chain data from Spotonchain, a large buyer has spent $3.86 million to purchase 144 billion SHIB tokens.
Shiba Inu is among the few meme coins that boast a vast ecosystem and provide value beyond mere speculation, Shibarium, Shiba Inu’s Layer 2 network has recently reached a new milestone as it surpassed 500 million in total transactions, with over 2 million active wallets.
Cutoshi Continues To Make Waves Amid A Sea Of Red
Cutoshi’s utility-driven approach is what sets it apart from run-of-the-mill meme coins which rely solely on hype to grow. With its unique MemeFi ecosystem, Cutoshi is built to be future-proof and reward loyal users with generous rewards through its revolutionary reward system.
Cutoshi boasts a cutting-edge cross-chain DeFi protocol named CUTO DEX. The exchange will allow users to seamlessly swap assets across all major blockchains at the lowest possible fee. Simultaneously, middlemen are removed from the equation, as users will retain sole custody of their funds.
Cutoshi is inspired by the traditional Japanese Lucky Cat and wants to bring good fortune to its rapidly growing user base with the Cutoshi Farming model. While the presale is still in motion, users can participate in fun events and complete different tasks to boost the project’s presence on social media. For their efforts, they will receive points that can later be redeemed for $CUTO tokens. As part of this initiative, Cutoshi recently hosted a meme contest awarding $2,000 to ten lucky participants.
Stage 4 of the $CUTO presale is live and tokens are up for grabs for just $0.031. This is a great entry point for early buyers, as there has never been a better time to join Cutoshi’s utility-driven meme revolution.
For more information on the Cutoshi (CUTO) Presale:
Join and become a community member:
https://twitter.com/CutoshiToken
