Shiba Inu Price Rally Is Not Over, Will Dogwifhat And Viral New Meme Coin Join The Party?

A new contender has appeared in the meme coin space — Cutoshi. Will this cat thrive in dog territory? The thousands of investors hurrying to the ongoing presale of the $CUTO token seem to think so.

Shiba Inu Rebounds To $0.000025 After Successful Support Retest

After struggling to breach the $0.000030 resistance, Shiba Inu retraced to previous support levels and is currently consolidating around $0.000024. At press time, Shiba Inu sells for $0.0000246 and it boasts a 38% monthly surge and a 1.8% intraday increase.

Currently, Shiba Inu’s market cap sits at $14.67 billion, which is monumental for a meme coin and is fighting tooth and nail with Avalanche for the 11th place on the crypto leaderboard.

Several crucial indicators signal that a breakout could happen at any given time. For starters, SHIB’s burn rate continues to rise, with Shibburn showing a 2225% increase on November 21, as more than 14.5 million tokens were removed from circulation. Moreover, crypto analyst Ali Martinez has pointed out on X, that a bull flag pattern has been forming on the 1-hour chart. This means that Shiba Inu should soon soar above the descending trendline with an explosive upward move.

Another key signal is the imminent formation of a golden cross on the Shiba Inu chart, with the 50-moving average crossing above the 200-day MA, which historically marks the start of a prolonged bullish trend.

Source: TradingView

Dogwifhat Seems To Have Bottomed Out

Dogwifhat (WIF) is another meme coin that has gained massive traction over the last year with incredible price multipliers that minted more than a few millionaires along the way. After peaking at $4.20 over the last week, Dogwifhat retraced as selling pressure intensified, ultimately failing to reach its previous all-time high.

Today Dogwifhat trades at $3.13 with its price action hovering around this mark with minor deviations in either direction. CoinMarketCap shows a notable 20% uptick in trading volume with nearly $1 billion worth of WIF changing hands in the last 24 hours.

Crypto analyst The Cryptonomist has shared a Dogwifhat chart reading that shows the meme coin forming a falling wedge pattern, that could culminate with a massive breakout and send WIF above $5.

This is also corroborated by Dogwifhat’s daily RSI indicator, which has started climbing again and is now sitting at 55 points. This means that buyers are now stepping in and adding to their WIF positions.

Cutoshi, Meme Energy Backed By DeFi Utility

Cutoshi is a new meme coin that draws inspiration from the Lucky Cats of Asian folklore which are said to bring wealth and prosperity to businesses. Cutoshi does exactly the same for its community with its incredible reward system.

Cutoshi incentivizes users to engage with the ecosystem by completing various missions and tasks aimed at spreading the good word online. This has already led to Cutoshi frequently trending on X over the past week. For their efforts, users are already receiving CUTO points that can be later redeemed for $CUTO once the token launches.

Cutoshi boasts a complex DeFi ecosystem centered around CUTO DEX, a cutting-edge decentralized exchange. This platform seamlessly connects isolated blockchains while ensuring greater privacy and decentralization, echoing the teachings of Satoshi Nakamoto.

Stage 3 of the $CUTO presale is underway and tokens sell for only $0.0259. With over $1,000,000 raised in record time, today is the perfect day to get involved, as demand is rising and the price is expected to surge in the upcoming weeks.

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

This is a sponsored article. Opinions expressed are solely those of the sponsor and readers should conduct their own due diligence before taking any action based on information presented in this article.