In the past month, Ethereum’s price has shown resilience with intermittent spikes driven by institutional adoption, layer 2 innovations, and developments in the DeFi sector. According to an analyst’s price prediction for Ethereum, it could hit the $3,000 mark before the end of Q4. Shiba Inu’s burn rate has also recorded a significant increase of over 14,575%, removing 279M SHIB tokens from circulation and boosting the SHIB price performance, which has already recorded a monthly surge of over 34%.
Meanwhile, Cutoshi has continued to attract investors with its unique features. This Ethereum-based utility token is already making significant gains, with early investors enjoying a 46% ROI. This meme coin also aims to emulate Shiba Inu and Ethereum price performance, with a 100x price prediction before listing to major exchanges.
Cutoshi (CUTO): The Ethereum-Based Utility Token Shaking The Market To The Core
While most meme coins rely solely on hype, Cutoshi combines this feature with practical utility. It introduces a fully-fledged ecosystem with a multi-chain DEX and swapping mechanism, allowing users to trade across different blockchains easily. Users will also become sole custodians of their assets, thereby simplifying the trading process while saving time and money.
To showcase its commitment to its community, Cutoshi has a community-driven reward mechanism that will keep its users engaged and motivated. The Cutoshi Farm will provide community members with a new way of earning free CUTO tokens by completing quests, tasks and more.
Similarly, the Cutoshi Academy will help bridge the crypto knowledge gap and bring DeFi to the masses. Currently, CUTO is trading at $0.022 in stage two of its presale. With the token’s buy and burn mechanism and a CoinMarketCap listing, the demand for the token has been increasing dramatically.
Will Ethereum (ETH) Hit The $3K Mark Before The End Of Q4?
Ethereum’s robust ecosystem, including DeFi projects, NFTs, and smart contract capabilities, continues to drive investor interest. Moreover, the upcoming Ethereum network upgrades, which aim to improve security, scalability, and efficiency, further strengthen the narrative that Ethereum (ETH) is primed for a significant surge.
Source: IntoTheBlock
Ethereum whales have also accumulated the SHIB token as it surged above the $2600 mark despite a notable increase in exchange inflows, triggering a mixed signal. According to IntoTheBlock data, Ethereum large holders’ inflow almost doubled over the past week, registering a net inflow of 97,220 ETH on October 15, estimated to be around $254M going by the current price point.
With such developments, analysts predict that Ethereum’s price might hit the $3K mark by December 2024, representing a 15% surge from its current price level. The sustained growth of decentralized finance and continued development of the Ethereum ecosystem are set to drive ETH’s price even higher over the coming months.
Shiba Inu’s Burn Rate Surges: Can SHIB Retest Its Previous ATH?
Shiba Inu is still strong within the meme coin market, with a market cap of over $11B. However, the big question is whether it will be able to climb back to the $20B market cap or even higher in the next bull run.
Currently, the SHIB token is turning heads as its burn rate has recorded an astonishing surge, with over 279M tokens removed from circulation over the past few days. This significant increase in burn rate has drawn attention from investors, with a single address accounting for over 277M tokens burned, fueling optimism about the meme coin’s potential.
Source: CoinMarketCap
This burn frenzy comes at a critical time, coinciding with the broader market recovery and gains among top meme tokens. The removal of SHIB tokens from circulation is normally viewed positively by the market, as it reduces the overall supply, potentially boosting Shiba Inu’s price and signaling a rally. Moreover, the SHIB token technical indicators seem to support a bullish trend that could see the token retest its previous all-time high of $0.000086.
Will Cutoshi Match Ethereum And Shiba Inu Price Performance?
Ethereum and Shiba Inu have showcased strong resilience within the market. Backed by recent developments and burn rate, these two cryptos are set to record impressive gains before the end of the year. However, Cutoshi also holds ground with its DeFi features and strong utility. This makes it a unique meme coin with the potential to record significant price performance in the coming months.
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