Notably, Floki (FLOKI) is currently expanding its ecosystem to cater for a diverse audience besides meme coin enthusiasts. This has birthed new features like Valhalla P2E metaverse, and a DeFi platform that is still in the pipeline. Meanwhile, a fast-rising presale star, Cutoshi (CUTO) is also trailing this path by introducing a hybrid MemeFi protocol.
Cutoshi Prepares To Lead The Meme Coin Market With Hybrid Ecosystem
Based on the Ethereum network, the Cutoshi (CUTO) project is another successful attempt to build a more dynamic meme coin ecosystem. Essentially, the hybrid MemeFi protocol blends meme coin’s community approach with the lucrativeness of DeFi to establish a unified ecosystem that embodies decentralization, privacy and monetary freedom, Satoshi Nakamoto’s Bitcoin core principles.
Given its hybrid nature, Cutoshi’s main attraction lies within its DeFi hub which features a DEX platform, a staking protocol, and a farming mechanism that offers users extra layers of incentives in the form of the native token, and complementary NFTs and merch. Notably, the Cutoshi DEX facilitates multi chain exchange and swapping, ultimately bridging the gap between meme coins and decentralized finance.
Another interesting aspect of the project is the cultural theme. Inspired by the popular Chinese Lucky Cat associated with good luck, Cutoshi fosters a positive mindset among its community members, which further positions it as a community-centric platform. That aside, the entire Cutoshi operation is powered by the native $CUTO token. The deflationary token is now sold for $0.022 in the second presale phase, up by 46% from its initial price.
Floki Price Navigates Extended Consolidation Amidst Expanding Ecosystem
The Floki (FLOKI) network is growing by the day, thanks to its ongoing ecosystem expansion that have birthed diverse features that transcend beyond the typical meme coin ecosystem. However, despite obvious development within its ecosystem, the price of the native FLOKI token has been stuck within a consolidation zone for several months.
Source; CoinMarketCap
As seen in the year-to-date price chart above, FLOKI price has mostly traded below the $0.00020 price mark for about four months. Interestingly, the price consolidation commenced shortly after the Floki token hit its yearly peak of $0.00032 sometime in June. Ever since, FLOKI price has traded as low as $0.00011 amidst several attempts to break out of the consolidation zone.
Currently trading within a weekly price range of $0.00015 and $0.00013, FLOKI price reflects roughly 14% decline in the past seven days and over 19% in the past month. Although the recent downtrend appears to be a minor setback, FLOKI token moving averages points at a sell signal which implies that the current trend may persist for a little while.
Shiba Inu Token Risks Further Decline As It Mirrors 2023 Price Trajectory
Shiba Inu (SHIB) has enjoyed its fair share of the bullish market this year, with SHIB price hitting a peak Year-to-Date price of $0.000035 before it eventually nosedived to the levels below $0.000020 as seen in the chart below.
Source; CoinMarketCap
Despite the noticeable decline, SHIB price remains relatively positive as it managed to retain nearly 120% gain in the past year. However, the recent downturn casts a shadow of doubt on the possibility of a price resurgence.
Currently trading within a weekly price range of $0.0000186 and $0.0000170, SHIB price reflects nearly 9% decline in the past week, resulting in a 14% price decline in the past month. While SHIB token’s 2024 trajectory shares similarity with that of 2023, its moving averages further suggest that the current trend may persist throughout Q4.
Can Cutoshi Outperform Floki And Shiba Inu?
Unlike Shiba Inu, both Floki and Cutoshi boast a diverse market appeal largely because of their dynamic ecosystem. For instance, the FLOKI ecosystem houses a P2E metavers, TokenFi, and an upcoming DeFi that distinguishes it from most meme coins in the market.
Similarly, Cutoshi operates as a hybrid protocol with a major focus on DeFi. This ability to thrive in different markets, coupled with its market readiness, positions it in a more advantageous position than Floki and Shiba Inu.
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