Recently I have been hearing increasing chatter around Cutoshi (CUTO) in the cryptocurrency community, over the last few weeks. For someone who both traded as a prop as well and watched the meme coin scene, this is a large change especially in light of Dogecoin (DOGE) struggling to follow through during this market correction.
Dogecoin Correction
Dogecoin has a special place in my thoughts forever. As the original meme coin, it was fun to look at a no-brainer way to enter crypto in those days. Yet sentiment is a fickle thing in financial markets and, as we know from the price performance of Dogecoin down 11% over the past week alone, it does not endure forever.
In my opinion the only worry I have for Dogecoin is its direct link to Bitcoin. That is not good, but with BTC down by 9% off of global uncertainty linked to the Middle East conflict, it's evident that meme coins like DOGE are more susceptible to macroeconomic shocks than many might have thought.
The selling of 99.999% of his DOGE, done by the Dogecoin founder himself Billy Markus is another red flag. For myself, it is concerning when a creator (or team) building on the asset is no longer vested in the project. The buying from whales that is aiming to prop up the price seems to be only a tourniquet for what could be greater, longer term concerns.
The Rise of Cutoshi: A Different Perspective
Introducing Cutoshi (CUTO) the Eco-friendly meme Coin educing from teachings and philosophy of Satoshi Nakamoto in blockchain. Unlike the mostly celeb-backed Dogecoin (Elon Musk, anyone? That is, Cutoshi is trying to bring a little bit of meme culture with some actual utility. This... automatically becomes a point in its favor as far as I am concerned.
Cutoshi ecosystem — from here on out I view this as a cutoshi roadmap. First of all, the Cutoshi Academy is a novel concept — educating people about crypto, especially newbies. A feature that has been sorely missed in the meme coin space. A large number of meme coins are high in volatility and low on real-world use cases. Cutoshi apparently tackles that problem, including decentralised exchange and trading plus farming.
But even beyond that, I feel like Cutoshi knows the significance of community as a meme. This gives it a bit of an edge from the combination of Lucky Cat charm with Nakamoto-esque decentralised idealism. It offers more than just price pumps and speculation, but a fun and engaging experience for holders with contests, giveaways and NFT rewards.
Why Traders MIGRATE TO Cutoshi
We are currently seeing a migration of DOGE traders moving into Cutoshi and for good reason. Dogecoin closed the week at $0.104, it was interesting that even if it is still possible for bulls, transactions do well so additional meme coin alternatives can be searched out due to the clear downslope sentiment here in the long term. With 19 million tokens sold out of the designated 22 million for presale, Cutoshi is experiencing a breakout as it is already selling like hotcakes.
That is a ton of upside on Cutoshi at $0.015 per token. Initially priced — appealing to both day traders and retail investors alike that want to get in on the next big thing early. Cutoshi is well-place to take advantage of any continuing correction that Dogecoin may experience given how quickly sentiment can change in crypto land.
What Can We Determine From This A New Meme Leader In The Making?
As per my observation, Cutoshi will probably lead this meme coin domain. The combination of meme culture, paying attention to and building up their community (production ready or not), and real-world utility makes it an obvious leader amongst the crowd if you ask me. As a trader, I am always on the hunt for projects with short-term (pump and dump) potential as well as long-term upside, and Cutoshi is hitting on all cylinders here both ways for me.
Though Dogecoin may not be dead per se, it seems likely that the current downturn will need more than just whale buy-ups to keep it alive. We may just be seeing the start of a new meme coin era as more digital traders venture to projects such as Cutoshi. For the tech savvy like you who are still seeking out that earth-shattering project, it might just be Cutoshi.