As uncertainty arises among Shiba Inu traders due to the increased volatility, traders are liquidating their positions and moving funds to Floki Inu and the viral token presale of the hybrid meme coin Cutoshi (CUTO) to capture the next rally.
After the peak in March 2024, Shiba Inu entered an extended decline, facing rejection from a trendline. This decline continued until early November when the price broke out of the trendline due to massive demand. After this breakout, Shiba Inu rallied over 70%, reaching the $0.00003 price level.
However, Shiba Inu faced significant bearish pressure near this zone, dropping over 20% to enter a range-bound price action between the $0.00002340 and $0.00002621 price levels. After breaking out of the upper range, Shiba Inu again faced considerable resistance near the $0.000033 price and has experienced wild price swings in the last ten days.
On Monday, Shiba Inu dropped over 24% but bounced from the low of $0.000024 and recovered 10%. The following day, the price dropped to the same low and again bounced over 10%, establishing a strong support level at $0.000024. Today, the price action is relatively slow, and Shiba Inu currently trades at $0.00002714. The volume has dropped over 28% as traders move to Floki Inu and Cutoshi due to uncertainty.
Floki Inu also rallied in November after over three months of consolidation. The price surged over 100% within 10 days, breaking crucial resistance levels to $0.00028. However, this price level was a strong resistance and Floki Inu consolidated below this for over a week, taking support near $0.000237.
The price plunged further below this support and traded in the $0.00022-$0.000237 range. Floki Inu moved past this consolidation last Saturday with an 8% intraday surge, but despite this, momentum again reversed from the $0.00027 resistance level. In the previous 24 hours, Floki Inu plunged 3.4% to $0.0002259 and the trading volume decreased by 53%.
Due to this price correction, Floki Inu has moved below the 10-day and 20-day Simple Moving Averages (SMAs) and the Relative Strength Index has dropped to 50. Floki Inu has an immediate support level near $0.000212 and a more significant support level at $0.0002. The price is 35% below the ATH and Floki Inu can reach a new ATH if it breaks out of the current consolidation with significant demand.
The Chinese Lucky Cat, meme coin Cutoshi, brings good luck and prosperity to the blockchain and is working on its serious mission of spreading mass adoption of DeFi (Decentralized Finance). It promotes financial privacy and security and thus is helping create an efficient, democratized economy.
Cutoshi, is bridging the knowledge gap with plans for a learning academy within its ecosystem. The academy will help newcomers adapt to decentralization and expand their knowledge of crypto and Web3 at their own pace using free and engaging learning materials.
Moreover, the 3,300+ members participating in the Cutoshi token farming are helping the community grow and are earning exciting rewards for their contribution. By completing the fun quests on the Cutoshi Questboard on Zealy, members are harvesting CUTO points, which they can convert to CUTO tokens after the presale.
The CUTO token has surged over 100% since stage one of the presale and is currently valued at $0.031 in stage four. Cutoshi has raised over $1.35 million and early investors have made enormous profits and will continue to compound these profits with similar gains as the presale progresses to further rounds.
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