Dogecoin (DOGE), after a long period of consolidation, finally has given a breakout in the weekly timeframe. It broke out of the rounding bottom pattern on Friday and is trading near the $0.144 resistance zone. This strength in Dogecoin is a sign of momentum in the meme coin sector. Investors have started investigating potential emerging meme coins that are in their early stages and have the potential to become large caps like Dogecoin.
Cutoshi (CUTO), a utility meme coin plus a DeFi hub, is gaining momentum as investors shift towards memecoins. From the first stage of presale, it rose from $0.015 to the current level of $0.022, gaining 46%. CUTO token has a sectoral tailwind due to the added utility and the fun of memes coins.
Continuous Green Candle Formation In Dogecoin (DOGE)
Since the 14th century, Dogecoin has continuously formed green candles, rising nearly 30% in the last seven days. Dogecoin RSI has also shot above 70 and is currently sitting at 78, above the overbought zone. This momentum in DOGE is a good sign for the market because it is the leader of a whole sector. On a weekly timeframe, the breakout was completed after the retest of the falling wedge pattern.
This rally is currently being extended and might pull back to a lower level. If Dogecoin continues from this level, $0.14 and $0.175 are two crucial resistance levels at which traders who bought in the recent breakout can profit.
Elon Musk recently gave a speech in Pennsylvania. During the Q&A session, someone asked him about his views on the Department of Government Efficiency (D.O.G.E.), which he might lead in the future. This sparked speculation among traders who believe Musk’s potential political involvement and the D.O.G.E. initiative could boost retail interest in Dogecoin. Some even think that if Trump wins the election, “DOGE” could become a part of government discussions, potentially impacting the adoption and value of the cryptocurrency.
Cutoshi (CUTO) Can Disrupt The Meme Coin Market
Cutoshi has become the most trending meme coin built on the Ethereum blockchain. CUTO has quickly raised over $500k in its second presale phase. Experts believe Cutoshi can become the meme coin leader at the coming market rally.
The Cutoshi project draws inspiration from the traditional Chinese Lucky Cat, known for bringing wealth and fortune, and Satoshi Nakamoto’s vision for blockchain technology. Cutoshi combines these ideas to bring luck and wealth to investors’ digital assets.
Cutoshi offers an ecosystem with useful features, including a multichain DEX that allows users to trade cryptocurrencies across different blockchains. This DEX makes it easy to swap digital assets while providing blockchain security and transparency. Additionally, Cutoshi offers farming, where users can earn rewards by participating in challenges and quests, redeeming points for more CUTO tokens.
Cutoshi Academy is crucial in educating users about cryptocurrency and DeFi, helping people become better traders and investors. These features are steadily boosting Cutoshi’s potential in the market.
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