Ethereum's Recent Price Spike Brings Attention To ETH-Based Coins, Floki And New Viral Meme Coin Trending Globally
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November 26, 2024 04:01 AM Eastern Standard Time
As the bull market is gearing into overdrive, Ethereum is seeing significant momentum. This excitement has already spilled over to Ethereum’s ecosystem and meme coins are among the biggest gainers. Floki and another viral meme coin Cutoshi are among those attracting attention recently.
Can Ethereum Reach $4000?
The biggest DeFi platform Ethereum (ETH) is breaking out of its losing streak. Market data and technicals are showing signs of a potential breakout. Thanks to current momentum, ETH seems poised to reach multi-year highs.
Thanks to the general crypto bull market, Ethereum has been trending significantly up this month. At its current price of $3,378.17, Ethereum saw a 36% increase in the last 30 days.
What is more, traders are also showing bullish sentiment. Notably, long positions are currently dominant in the market, with the Binance long-short ratio at 4.87. This means that 83% of the accounts are betting that Ethereum will go higher.
The technicals are also strong for Ethereum. The nearest resistance is at $3,442, after which the target is at $3,568. If Ethereum manages to break this level, the token will go for psychological barriers at $3,750 and $4,000.
Floki Looks To Musk For New Gains
The excitement over Ethereum’s price increase is driving interest in meme coins on its chain. Floki is one of the strong performers among these, with traders eyeing a bullish case for it. At the current price of $0.0002526, Floki saw a 82% increase in the past 30 days. The main drivers were the overall crypto bull market, which has boosted major meme coins significantly.
At the same time, Floki has the advantage of being associated with Elon Musk, who significantly raised its profile recently. Floki traders always know that they are just one tweet away from big gains. Now, Elon Musk now has the ear of President-elect Donald Trump and his influence is even bigger.
Technicals are also showing a bullish case for Floki. One analyst, Javon, suggested that the next resistance for Floki is $0.00054673. This means that the token has the potential for a 92% upside in the near future. While this may be an optimistic case, Ethereum-based meme coins are in a strong position.
Ethereum-Based Cutoshi Gets $1 Million In Investments
Another Ethereum-based token that attracted attention is Cutoshi (CUTO). On November 22, this memeFi token was trending on X (Twitter) after reaching a major milestone. After a month of presale, Cutoshi reached $1 million in investments.
https://x.com/CutoshiToken/status/1859908181964501133
These investments will go toward Cutoshi’s vision of building a decentralized ecosystem run by its users. Unlike many meme coins, Cutoshi puts utility first. Inspired by Satoshi Nakamoto, the creator of Bitcoin, the project aims to build a platform for users to trade crypto without barriers.
To further its goal, the project leverages Ethereum, the most decentralized chain out there. At the same time, it will launch a multichain DEX, to attract users on all chains. This will make it easier for users to join DeFi. Moreover, the project will also feature token farming and a learning platform, helping support and reward users new to DeFi.
The project has an ambitious vision, but one that has significant benefits for users. As blockchain continually trends toward cross-chain operability, Cutoshi is in a good position to attract traffic and help users ditch centralized exchanges.
For more information on the Cutoshi (CUTO) Presale:
Join and become a community member:
https://twitter.com/CutoshiToken
Welcome to Cutoshi, the revolutionary meme coin, DeFi hub and educational platform inspired by the Lucky Cat and Satoshi Nakamoto’s teachings.
Traditionally, people put the Lucky Cat in their homes and businesses to maximize its lucky powers and bring them good fortune and wealth. Now Cutoshi the Lucky Cat is on the blockchain bringing luck, prosperity, and wealth to your digital assets.
Cutoshi is creating a path to financial freedom, for those who choose to honor the power of the Lucky Cat. Supporting the principles of freedom, privacy, anonymity, and monetary empowerment for the masses. Cutoshi aims to bring the benefits of blockchain to everyone.
The regulatory environment surrounding cryptocurrencies is evolving and varies across jurisdictions. It is your responsibility to ensure compliance with applicable laws and regulations in your country or region before engaging with Custoshi.
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