Gone are the days when Ripple’s future appeared to be hanging by a thread amid years of grueling legal battles with the SEC that not only significantly impacted XRP’s price action but also tanked holder sentiment.
With Donald Trump winning the US presidential election, Ripple took the spotlight with a gigantic surge that saw it scale the crypto rankings with ease. While Ripple’s momentum is still showing impressive strength, cracks have started appearing on the chart. Savvy investors have started rotating profits into undervalued gems with greater upside potential.
One such project is Cutoshi (CUTO) which has been steadily gaining traction in the meme coin space with its innovative framework that leverages a state-of-the-art DeFi platform.
The Ripple Correction Has Started
Over the last month alone, Ripple (XRP) experienced a 400% rally that saw its price multiply at lightning speed. Ripple peaked at $2.84 just a few hours ago, but selling pressure is now intensifying, which has led to an 8% intraday decrease, with Ripple now sitting at $2.44.
At $139 billion in market cap, Ripple has overtaken BNB, Solana and Tether and is now occupying 3rd place as the largest cryptocurrency on the market. However, history shows that this type of growth is not easily sustainable, as long-term investors predictably start booking profits and short positions start flooding the order books.
On the other hand, many analysts believe that amid the extremely positive market conditions, this correction is to be considered a healthy one, giving an opportunity to investors to bolster their positions in anticipation of the next leg up. Analyst and trader kosjdojo already warned of this move in late November as the Ripple chart began foreshadowing a short-term reversal.
However, the sentiment remains overwhelmingly bullish for Ripple, renowned commentator Amonyx has drawn an interesting parallel between Ripple’s price action and that of Tesla. Tesla spent 7 years in an accumulation phase which culminated with a breakout that saw its price enter escape velocity. Similarly, Ripple has been consolidating since late 2017 and with the 7th year coming to an end, many expect fireworks.
How Cutoshi Could Reinvent Meme Coins
The vast majority of meme coins offer no real utility aside from being virality-driven assets, meaning that most of them never recover after the first sign of turbulence. Cutoshi sets itself apart from the competition by introducing an entire DeFi ecosystem built with decentralization and longevity in mind. Cutoshi not only allows for seamless cross-chain transactions but will also reward holders with a revolutionary reward system.
CUTO DEX is Cutoshi’s flagship feature that bridges the gap between isolated blockchains, allowing for lightning-fast swaps at just 0.25% in fees. Of these, 80% will be distributed to liquidity providers who sustain the ecosystem, while the remaining 20% will be used for buybacks and burns of the $CUTO token. This is significant, as $CUTO is designed to be deflationary. Regular burns will constantly deplete the circulating supply, making the token scarcer and therefore more valuable.
Cutoshi draws inspiration from the Lucky Cats of Japanese legends, which are displayed in stores and homes as tokens of good fortune. In a similar fashion, Cutoshi becomes a token of good fortune that blesses its community with the Cutoshi Farming model.
During and after the presale, users can complete various quests and tasks aimed at boosting Cutoshi’s presence on social media. For their efforts, they will receive CUTO points that can be later redeemed for more $CUTO tokens.
Stage 4 of the $CUTO presale has just started and tokens are on sale for only $0.031, from its initial price of $0.015, giving early investors an incredible 106.67% return. So far, more than $1.2 million has been raised in funds and this number is expected to multiply as the presale progresses. Investors who take action today could see amazing returns as the bull run starts ramping up.
For more information on the Cutoshi (CUTO) Presale:
Join and become a community member:
https://twitter.com/CutoshiToken
https://t.me/cutoshi
This is a sponsored article. Opinions expressed are solely those of the sponsor and readers should conduct their own due diligence before taking any action based on information presented in this article.
