Geopolitical tensions have a significant adverse impact on financial markets worldwide. Due to the rising tension between Israel and Iran, crypto market sentiment is going into fear. Investors are cautiously tracking developments in the Middle East region.
Despite market conditions, Dogecoin recently broke out from its macro downtrend, showing bullish potential. However, due to the recent news, it has again lost its strength and is back at the breakout level.
At the same time, a new meme coin called Cutoshi is on the rise, intending to go head-on with the meme king Doge.
Dogecoin (Doge): Is Reversal Due After Retest Of Breakout?
Born in 2013, Dogecoin (DOGE) is the oldest memecoin, and the leader of the memecoins has a current market cap of $15.7 Billion. Dogecoin was a joke but has evolved into a large network and become a popular altcoin.
With the Current Market Price (CMP) of $0.1077, Dogecoin is retesting the trendline from which it recently broke out. The Three Black Crows bearish pattern has been made in the daily chart of Dogecoin over the last few days. Today’s candle is a doji with a long upper wick.
Dogecoin trades above the 50-day Daily Moving Average (DMA) but below the 200-day DMA. The MACD indicator shows a bearish crossover, indicating downward momentum.
Today, Doge’s market value has dropped over 9%, and volume has increased 42% in the last 24 hours. Bullish pressure could emerge near the support level at the $0.9854 price mark. However, bears will try to counter at the resistance levels at $0.11604 and $0.13192.
Cutoshi (Cuto): Spreading The Importance Of Decentralization
Cutoshi is inspired by Bitcoin and resonates with Satoshi’s vision and ideals. Cutoshi promotes decentralization, privacy, and monetary freedom by creating a fun learning community.
Cutoshi will release the Cutoshi University, to spread awareness about blockchain technology and Decentralized Finance and reduce the knowledge gap for newcomers in the crypto space. Cutoshi hopes to create fun and engaging educational content.
Members of the Cutoshi community will be able to earn by farming CUTO and Cutopoints. They collect these by completing quests, visiting the Cutoshi Shrine daily, and reaching the top of the leaderboard. Cutopoints can be harvested and swapped to collect valuable rewards and additional CUTO tokens..
The supply of Cutoshi is capped, making it deflationary, unlike Dogecoin, which has an infinite supply.
The presale for CUTO is ongoing at a discounted price of $0.015, and over $280,000 has been raised by the sale of over 15 million tokens.
Given all of this, Cutoshi has the potential to rise to the level of the top-ranking memecoins.
For more information on the Cutoshi (CUTO) Presale:
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