Promising Altcoins to Watch in October
As October draws to a close, several cryptocurrencies are showing great promise. Major players like Shiba Inu (SHIB) and Fantom (FTM) have entered ascending channels, capturing the attention of investors. Additionally, a new contender has emerged, merging meme culture with an impressive DeFi framework: Cutoshi.
Shiba Inu Is Gearing Up For A Major Breakout
With increasing buying pressure, Shiba Inu (SHIB) is poised for a breakout above the $0.00021 mark. The cryptocurrency has already breached this resistance level twice in late September, although momentum quickly waned, leading to a rejection. Currently, Shiba Inu is trading at $0.000018, reflecting a 2.7% decrease over the past 24 hours.
Recently, Shiba Inu announced the imminent launch of its DAO and foundation, an initiative aimed at enhancing decentralization and allowing the community to play a more central role in governance.
Fantom’s Path To $1
When analyzing the Fantom (FTM) chart, it’s evident that the project is ready for a significant upward move. Presently, Fantom is trending above both the 50-day and 200-day simple moving averages, indicating a strong ascending trend. Furthermore, sentiment among Fantom holders is approximately 90% bullish, according to CoinMarketCap.
At press time, Fantom is priced at $0.72, showing a 2.9% decrease in the last 24 hours. Analyst AMCrypto suggests that Fantom will likely consolidate around this mark before the next upward leg, potentially pushing its price above the $1 threshold. For this bullish scenario to be confirmed, however, Fantom must reclaim and maintain the critical $0.75 level soon.
Cutoshi Could Take Everyone By Surprise
Cutoshi brings a unique blend of meme energy and DeFi utility to the crypto space. With this intriguing mix, the project aims to change the narrative surrounding meme coins, demonstrating that they can have real utility.
Symbolized by Chinese Lucky Cats, which are believed to bring good fortune to businesses, Cutoshi aims to bring similar luck to the blockchain and its rapidly growing user base.
Key Features of Cutoshi
- $CUTO DEX: At the heart of the Cutoshi ecosystem, this state-of-the-art cross-chain exchange allows for lightning-fast transactions with just a 0.25% trading fee.
- Cutoshi Farming: Users can earn additional income by staking the $CUTO token on the platform, receiving substantial rewards.
- Cutoshi Academy: This educational platform simplifies key crypto concepts like DeFi, helping new investors build profitable portfolios.
With over $500,000 raised so far, the $CUTO presale is in its second stage, with tokens priced at just $0.022. By leveraging the meme coin narrative and providing a comprehensive DeFi experience, a significant price rise is a plausible prediction, especially when considering the historical performance of established meme coins such as Dogecoin and Shiba Inu.
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