Having started the year on a positive note, hitting over $4000 in Q1, Ethereum might be facing its worst time in history. The altcoin has been seeing significant selloffs in the past weeks, with the Ethereum Foundation selling 100 $ETH tokens in the past day. The recent dumping by whales is also reflected in the price which is struggling to bypass the $2600 resistance zone.
However, the massive selloff seems to be benefiting upcoming projects, with Cutoshi among the tokens witnessing more inflow. Recent data shows that Cutoshi has raised over $235k within a few weeks of presale, with more investors showing interest in the Ethereum-based project. Backed by a well-defined ecosystem, Cutoshi is projected for 10x in October.
Cutoshi Becomes the Center of Attraction As the Market Faces the Bears
Cutoshi, the Ethereum based project has become a talking point as the crypto market shows signs of a reversal. The Cutoshi project is a revolutionary DeFi hub that is built to reflect the original ideas of the Legendary Bitcoin founder Satashi Nakamoto, which are privacy, decentralization and monetary freedom.
By combining these ideas with the traditional Chinese Lucky Cat, Cutoshi wants to bring luck, prosperity, and wealth to your digital assets and give you decision-making powers over them. The major talking point of this project is the ecosystem, which houses the top tools such as a multi-chain DEX and swapping platform and an Educational DeFi platform.
At just $0.015, the crypto community is heavily accumulating this token due to an expected price rally. Some experts who have reviewed the Cutoshi project estimate a 500% rise soon. As such, with the presale in the early stage, now is the opportunity to accumulate CUTO tokens cheaply.
Ethereum Price Sliding to the Bear Market As Whales Continues Dumping ETH
Ethereum has been facing selling pressure in the past weeks as whales continue to sell the popular altcoin. This continuous decline has forced investors to flock to Ethereum based meme coins such as Cutoshi which has been projected for a 10x rally in Q4.
The recent selloff has been linked to the Ethereum Founder Vitalik Buterin with the foundation among those dumping the token. While the Ethereum ETFs closed the month of September in a positive note with a positive $25.95M net inflow, the coin has struggled to surpass the major resistance zone of $65,000 mark amidst ongoing selloffs.
CoinmarketCap data shows that Ethereum price has increased by just 6% in the past month with the Ethereum trading volume witnessing a a positive increase. According to a popular crypto analyst Jackis on X, if Ethereum price is able to flip the $2750 mark, it will head to the moon. The technical analysis shows that key market indicators such as MA shows strong buy signals. As such, Ether price might rebound soon.
Which Altcoin To Buy Now?
With Ethereum facing selling pressure, Cutoshi could be the best alternative. The Ethereum based meme coin is already on the path of toppling established cryptos like Shiba Inu and Dogecoin. This makes it a potential 10x project worth exploring.
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