This year has shown remarkable interest in meme coins. Floki Inu stands out with its 585% surge during the last year. However, while Floki Inu flourishes, analysts have found a new utility meme coin that blends the fun of meme coins with serious utility in decentralized finance.
Floki Inu’s (FLOKI) Performance and Rise
Growing from $0.00001776 to $0.001343 this year, Floki Inu has garnered lots of attention. Its strong community is most likely behind the meteoric rise. Floki Inu also introduced a play-to-earn metaverse game named Valhalla which also contributed to the growth. After a marketing campaign for Valhalla has started on October 1st.
After a collaboration with SSC Napoli, Floki Inu became the official partner for Nottingham Forest in the Premier League. Big marketing efforts from the team. Grafun’s first day was also a success hitting 5800+ tokens launched. Floki Inu owns 40% of the Grafun meme coin launchpad and receives 40% of the revenue generated from platform fees.
The success of Grafun is expanding and benefiting the Floki Inu ecosystem. Even though the technical analysis isn’t great, an RSI of 46 puts it in a good buying range. Currently locking in a higher low we could expect to see better indicators soon and in the long term considering Valhalla and Grafun, more gains for FLOKI.
It has been a tremendous year for FLOKI, however, with a $1.28B market cap, it isn’t likely that FLOKi can pull a 5x anymore. Investors will be happy with much less this year as FLOKI became a very established token.
Cutoshi: The Next Big Utility Memecoin
While FLOKI is already established, there’s another meme coin that’s just launched, not on Grafun though but on its own. Cutoshi is a utility meme coin with a multi-chain decentralized exchange, token farming, and a learning platform.
As meme coins prove to be the largest gainers this year and DeFi is supposed to double by 2031 it’s certainly a good field with high potential. Deflationary tokenomics use the 0.25% trading fee for buybacks and burns making the token more scarce and creating buying pressure.
Long-term potential is here, however, big growth should come much sooner since it’s currently in the presale stage. As soon as CUTO hits CEX platforms, the price is likely to go up. As time goes by the deflationary tokenomics are going to decrease the supply making CUTO more valuable. FLOKI being at $1.28B compared to a new CUTO is very different.
It’s very unlikely that such old established coins could outperform new ones with low market caps. Analysts claim x100 isn’t unrealistic. As alt season comes closer, we should see a bright future for utility meme coins. Floki Inu and Cutoshi alike.
For more information on the Cutoshi (CUTO) Presale:
Join and become a community member:
https://twitter.com/CutoshiToken
The post Analysts Highlight The Potential For Utility Meme Coin Cutoshi (CUTO) As Floki Price Performance Flourishes appeared first on ETHNews.
