The altcoin season has officially started, with meme coins taking center stage. Ethereum-based tokens Shiba Inu, Pepe and Cutoshi are among those making headlines. These tokens are among the biggest gainers recently, with significant potential.
Shiba Inu Price Prediction Amid Bull Run
Doge-killer Shiba Inu (SHIB), one of the biggest meme coins, has shown its dominance. Amid a bull market, the token reached monthly highs and seems poised to go even higher.
On November 14, amid an overheating bull market, Shiba Inu reached a multi-month high of $0.00002524. Shiba Inu is now approaching its March highs when the meme coin market was at its highest. This comes after months of relative underperformance compared to other memecoins.
Source: CMC
The latest move is significant for Shiba, as it can drive further momentum. At this price level, 62% of the wallets have profitable Shiba Inu positions. Wallets in profit have a significant effect on investor confidence, driving bullish momentum. Moreover, technicals for Shiba Inu are strong, especially its moving averages.
In a bullish scenario, Shiba Inu will break through its resistance close to $0.000030, above its latest all-time high. Beyond this level, Shiba Inu will run into the $0.0000341 level, equal to a relative strength index of 80. Going beyond that level will likely be possible in some time, as the technicals reset.
Pepe Eyes New ATH As Whales Pump
Ethereum-based meme coin Pepe was one of the big winners of the crypto bull run. On November 14, the token broke its all-time high, reaching $0.00002524. Moreover, on-chain data and technicals suggest that the token is in a position to grow much more.
At its current level of $0.00001989, Pepe has seen a 114.25% increase in the last 30 days. This impressive growth comes from whale accumulation. On November 22, one whale withdrew $6.42 million of Pepe from an exchange. Moves like these suggest that traders are moving tokens to safer storage, taking a long-term view on investment.
https://x.com/OnchainDataNerd/status/1859903159914860888
Technicals are also strong for Pepe. Its fast growth has pushed moving averages to a strong buy position. The charts have also recently displayed a bullish flag and pole pattern, indicating potential further increases. If Pepe can stay above the key support of $0.000022, one scenario has it breaking $0.000035. This is above its ATH and a 60% increase from current levels.
Ethereum-Based Cutoshi Becomes Viral
Pepe and Shiba Inu are not the only Ethereum-based tokens that are getting attention. More recently, a memeFi token, Cutoshi (CUTO) went viral thanks to its presale and DeFi ambitions.
On November 22, Cutoshi was trending on Twitter after raising $1 million for its DeFi ecosystem. The project aims to create a decentralized platform run by its users. Complete with a multichain DEX, a farming system, and a learning hub, Cutoshi wants to bring new traders into DeFi and away from centralized exchanges.
https://trends24.in/united-states/
One of the factors behind its success was a combination of meme coin virality and DeFi utility. On the one hand, meme coins are accessible to all traders, as they don’t require a lot of technical knowledge for investment. At the same time, the DeFi utility helps to give the token price stability.
Riding on the success of other Ethereum-based tokens like Pepe and Shiba Inu, Cutoshi could potentially make DeFi more accessible to average users.
For more information on the Cutoshi (CUTO) Presale:
https://cutoshi.com/
Join and become a community member:
https://twitter.com/CutoshiToken
https://t.me/cutoshi
