Can Ethereum’s Price Prediction Reignite Hope for ETH-Based Meme Coins? New Altcoin Enters the Market with Floki
Photo: Cutoshi
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/Cutoshi/ – While Ethereum has been underperforming last year, this is likely about to change. After riding the bullish wave last month, experts see Ethereum at multi-year highs. This momentum will also boost Ethereum-based altcoins like Floki and the new viral token Cutoshi.
Ethereum Price Prediction: Whales Set to Buy
The biggest DeFi platform, Ethereum (ETH) has been on a major climb this week. What is more, the technicals and on-chain data are bullish. Over the last month, Ethereum has been up 60.18%, its best performance in months. The token is currently standing at $3,343, with a strong position to go higher.
Source: CMC
Several analysts have pointed out a bullish case for Ethereum that could see it rise to $4,000 very soon. Technicals are a major part of this case, with most indicators flashing buy signals. Notably, on November 24, the Relative Strength Index (RSI) fell dramatically from 64 to 48. This indicates that the traders are gearing up to buy significant amounts of tokens.
The most immediate resistance for Ethereum is at $3,387. If the token breaks this level, it could go past $3,500 very soon. In this scenario, experts see ETH at $4,000, potentially as soon as next week. What is more, this momentum will likely translate to other memecoins on the blockchain.
Floki Gets a Boost on Major Listings
The most famous meme coin based on Elon Musk’s dog, Floki, stands to gain a lot from Ethereum’s rise. This will compound its recent gains. In the past 30 days, the token rose 79.56%, currently at $0.0002357. Other than the general bull market, Floki gained a major boost from a high-profile listing.
On November 21, Coinbase, the largest exchange in the US, listed Floki along with several other tokens. The listing immediately boosted Floki’s price, which rose 20% the same day. This was also accompanied by significant increases in volume. For instance, its spot market volume reached $1.68 billion in the days since the listing.
Coinbase will add support for FLOKI (FLOKI) on the Ethereum network (ERC-20 token). Do not send this asset over other networks or your funds may be lost. Transfers for this asset are available on @Coinbase & @CoinbaseExch in the regions where trading is supported.
Other than the listing news, Floki is likely to get a boost from Ethereum. Tokens on Ethereum tend to rise and fall together with ETH due to their intricate connection with its ecosystem. If Ethereum continues to climb, there is a significant bullish case for Floki.
Cutoshi Presale Becomes Viral
Another Ethereum-based token that may get a significant boost is the memeFi token Cutoshi (CUTO). This relatively new token, which just launched its presale last month, is already going viral. On November 22, the token was trending on Twitter, just after breaking $1 million in investments.
The success of this presale was partially due to a bet on Ethereum’s ecosystem. Notably, Cutoshi blends memes with DeFi, taking inspiration from both the Chinese Lucky Cat image and Satoshi Nakamoto. As such, it is building a DeFi platform on Ethereum, but one that would span other chains as well.
The Cutoshi multichain DEX hopes to connect the Ethereum blockchain with other chains. This way, it would allow traders to use any chains they normally use while benefiting from Ethereum’s security. This would enable users to not be tied to one particular chain, expanding their choice. This is in line with Satoshi’s values, which favor decentralization and privacy.
With the current bull market and Ethereum’s potential, Cutoshi is in a good position to attract more traders to the DeFi space. If it succeeds, the crypto space may become just a little bit more free and decentralized.
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