Ethereum has seen mixed performance, and its holders are looking for new opportunities. Memecoins like Dogwifhat and Shiba Inu entered a period of stability, with a likely bull run on the way. The next memecoin wave has the potential to catapult one particular token. It holds the keys to generational wealth for those who are early.
Ethereum Holders Look to Memecoins for Gains
Ethereum (ETH)
, the first chain integrating smart contracts, is on a downward trend. Currently trading at $2,304.26 ETH is
down 11.76%
over the last thirty days. The reasons for this decline include the general market downturn, as well as Federal Reserve’s policies.
The crypto market are down on news that the Fed will likely delay further rate hikes this year. This is bad for growth assets, like tech, and crypto, and obviously includes Ethereum. Despite this, ETH is still up 40.51% year over year. However, the current market decline is seeing ETH holders look at memecoins for quicker gains. These include Shiba Inu and Dogwifhat.
Shiba Inu and Dogwifhat See Mixed Performance
Ethereum-based token
Shiba Inu (SHIB)
has entered a period of stabilization. At $0.00001334, SHIB stayed stable over the last week and month. This stabilization comes after a long period of decline since March, when SHIB traded at $0.000035.
Like the rest of the memecoin market, SHIB was hit hard by the drop in activity over the past few months. Despite this, Shiba Inu is still
up 83.17%
year over year. This suggests that holders are still hopeful that the original Ethereum memecoin could still make a comeback.
Dogwifhat Stabilizes, Signs Show Next Memecoin Wave
Another memecoin,
Dogwifhat (WIF),
has shown similar performance to Shiba Inu. Reaching its all-time high in March of $4.85, WIF showed a steady
decline of 69%
, to $1.52. WIF stabilized since then, just like Shiba Inu.
Unlike SHIB, Dogwifhat is a relatively new token. Based on the Solana blockchain, WIF only entered the stage in December last year. The token was one of those riding the wave of this year’s memecoin hype, which culminated in March. However, the next wave of memecoin hype is coming soon, and could benefit one new token in particular.
Ethereum Holders Pick Cutoshi
Ethereum holders are most excited about
Cutoshi (CUTO)
, predicting hot performance for the rest of the year. Only at the first stage of its presale, with a price of just $0.015, Cutoshi has a lot of potential.
Cutoshi is a fun new token that blends the community appeal of memecoins with significant utility. Its cute avatar takes inspiration from the legendary Chinese lucky cat, hoping to bring luck to its holders. At the same time, Cutoshi is a serious project. It believes in decentralization and utility, following the teachings of Bitcoin creator Satoshi Nakamoto.
This cat meme coin is not just all cuteness. It is packed with utility and will have its own multichain Decentralized Exchange (DEX). This is key for users who favor self sovereignty, privacy and security, just as Satoshi intended.
Cutoshi also offers many ways for its holders to earn. Cutoshi farming includes staking, completing quests, collecting points and much more. All of these features give back to the community. Unlike Dogwifhat, it is an Ethereum-based crypto, meaning that ETH whales are particularly excited about it.
On the tokenomics side, Cutoshi is also geared for long term value appreciation. With a fixed supply of only 440 million tokens, it is much scarcer than both Shiba and Dogwifhat. Notably, Shiba Inu has a whopping 589.59 trillion tokens in circulation, while WIF has 998 billion.
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
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