The meme space is bubbling with activity, as is customary when the crypto market is prepping for a bull run. Dogecoin (DOGE) is almost 4% up on the weekly charts, and even Shiba Inu (SHIB) is on daily gains. The new meme coin Cutoshi (CUTO) is on track to replicate the last successes on both DOGE and SHIB, too, even as it competes with the Dogecoin price prediction and positive Shiba Inu news.
DOGE Bulls Eye Uptrend Amidst Upcoming Upgrade
Dogecoin (DOGE) was created only for crypto humor to keep traders in a fun mood even with dreary charts around them. In a few years, the use case for meme coins expanded with DeFi innovation, and, as expected, Dogecoin (DOGE) led the sector in terms of liquidity and capital.
The Dogecoin price spiked in 2021, rising alongside its astronomical increase in market capitalization. The token surged from $0.0099 at the start of the year to its ATH at $0.7376, making Dogecoin (DOGE) the first meme coin with such a rise.
Now, Dogecoin news reveals that an upgrade to the Dogebox platform is coming in next week. The upgrade will see even more decentralization on the Dogecoin (DOGE) network, with more accessible options for token storage and transactions.
Source: CoinMarketCap
While the Dogecoin price is currently trading at some negative 1.11% on the weekly trends, this recent development gives the DOGE bulls some hope that the project can capitalize and continue on its 25.10% uptrend.
Shiba Inu StrugglesWith Declines But Maintains Stability With Burn Rate
After its 150,000% surge in 2021, the Shiba Inu coin slowed down until the community intervened.
Now that the Shibarium and burn protocol is active, the Shiba Inu price is relatively stable, as the project has been less prone to fluctuations. Also, to compensate for the limited utility on the platform, Shiba Inu (SHIB) keeps up an impressive burn rate to get through its over 900 trillion token supply.
Source: CoinMarketCap
Meanwhile, on the charts, Shiba Inu’s 24-hour volume has dipped by 20.41%. Also, its market cap’s 1.87% decline doesn’t inspire any hope of the meme coin improving on its 7.42% weekly downtrend right now. But with meme coins like Shiba Inu (SHIB), never say never.
Investors Bet On Cutoshi To Follow In Dogecoin’s Footsteps
Like many meme coins, Cutoshi (CUTO) has a fun story to back its conception. The project draws inspiration from the Chinese Lucky Cat and Satoshi Nakamoto’s blockchain ideals. The Chinese Lucky Cat is said to bring wealth and prosperity, and the Cutoshi project aims to apply this traditional omen to the crypto market.
The Cutoshi project has a wide range of features. First is its DEX, where its users can swap and exchange tokens without queueing their transactions on busier networks and with the security of the Ethereum network.
Next is the Cutoshi farming, where members can earn rewards while participating in the community. It also features an academy dedicated to bringing Defi literacy to the masses. Through the academy, members of the Cutoshi community can learn how to make the most of Defi technology.
To preserve the CUTO price, about 7% of the total token supply (440 million) is designated for burning. The token burning will drive the token value up with time, creating scarcity and demand.
The CUTO presale is now in the second stage, with investors buying at $0.022. Investors are bullish on the CUTO token and believe the project could record a similar surge to Dogecoin.
Cutoshi: The Next Big Thing From The Meme Coin Sector
While Dogecoin (DOGE) and Shiba Inu (SHIB) have an impressive history of rapid price growth, Cutoshi is on track to be the next best meme project.
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