With all the turbulence in the crypto market, the gains are coming in. While Bitcoin is eyeing an all-time high at $100k, Shiba Inu is following. At the same time, two other tokens, Bonk and Cutoshi, may be seeing massive gains in the near future.
Shiba Inu Barking At The Big Leagues
The crypto market is seeing a lot of excitement around Shiba Inu. Currently, Shiba Inu is priced at $0.00002919, with a 30-day gain of 68%. With Bitcoin seeing its all-time high at almost $98k the crypto market is soaring and Shiba Inu is set to gain too.
What’s driving Shiba Inu, other than the overall market, is the growth of its ecosystem and technical developments. Notably, the Shibarium Network, Shiba’s own Ethereum Layer 2, is undergoing a major upgrade. The upcoming hard fork will tackle some of its most important issues.
Notably, Shibarium is expected to become more scalable, optimizing user experience. At the same time, transactions will be faster and will reach finality sooner. These developments are why analysts are optimistic about Shiba Inu.
Token burns are another big bullish driver for Shiba Inu. Recently, over 4 million Shiba Inu were removed from circulation. This is always bullish for SHIB. Technicals are also flashing buy signals, especially the moving averages. For this reason, analysts predict SHIB to go to $0.000056 by the end of 2024.
Bonk Is A Wild Card In The Meme Coin Jungle
The self-proclaimed Solana-based Doge, Bonk, is entering a volatile phase. Since its all-time high at $0.000053, the token dipped 10%. Currently it is trading at $0.00004252, up 123.16% over the last 30 days.
The volatility is showing in Bonk’s technicals. The overall outlook for the token is currently neutral. Notably, short-term moving averages are above Bonk’s current price, indicating selling pressure. At the same time, long-term moving averages are bullish, which means that the token still has some support.
Despite this, analysts are still optimistic about Bonk. if the token breaks through the $0.000045 resistance, it has a path to surpassing its all-time high. In this bullish case, Bonk has the potential to triple its ATH values, reaching $0.00015.
Cutoshi Raises $1.2 Million In Investments
With memecoins entering a period of volatility, investors are looking at alternatives. MemeFi token Cutoshi is among those that are benefiting. Blending memecoins with DeFi, Cutoshi secured $1.2 million just weeks after launching its presale.
The $1 million investment milestone did not go unnoticed. Cutoshi was trending on X, showing that traders are interested in its unique approach. Notably, what attracts investors to Cutoshi is its deep focus on utility and decentralization.
Cutoshi is building a DeFi ecosystem that aims to make decentralized technology more accessible than ever. Most crypto traders still rely on centralized exchanges. This leaves their crypto in the hands of potentially unscrupulous entities, which can lead to disaster. The FTX collapse was just one example of this happening.
This is why Cutoshi wants to bring as many people to DeFi as possible. Its multichain DEX, for instance, will aim to make trading simple and accessible. At the same time, it also promised to launch a learning academy to help support new traders.
With more and more traders recognizing the importance of custody, Cutoshi is in a good position to play its part in making crypto truly decentralized.
For more information on the Cutoshi (CUTO) Presale:
https://cutoshi.com/
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