As memecoins continue to dominate the market narrative in 2024, some Dogecoin bulls are spreading out to emerging projects such as Sui and Cutoshi. While DOGE remains popular, the appeal of Sui's innovative blockchain design and DeFi ambitions inspired by Cutoshi's meme are catching the attention of traders.
Dogecoin Supercycle sparks interest in new opportunities
The highest value of the DOGGE share for the last quarter was 0.73 US dollars. This year the great circle for meme coins, Elon Musk as the head of a government department for DOGE, praises the potential of Dogecoin in the future.
Although Dogecoin has yet to regain its all-time high, currently trading at $0.43, various analysts predict that the coin has a lot of room to grow. Trader Tardicade recently posted a chart suggesting that the Dogecoin pattern could lead to $10.
Some commentators questioned this, stating that Dogecoin would have to reach a market cap that is currently more than 3x that of Bitcoin. $10 may be overly optimistic, however, if BTC reaches $500,000 per coin due to the US adopting it as a national reserve, its market cap will also be much higher.
Sui's potential for mass adoption
Sui is another level 1 blockchain VanEck predicts is ready for mass adoption, as it is finally able to address usability, speed and cost.
Sui is fast, completing transactions in just 400ms. For comparison, Solana takes 5 seconds, Ethereum takes over a minute and Bitcoin lags far behind. Sui's fees cost fractions of a cent, making it affordable for everything from micro-payments to high-frequency apps. It's also easier and cheaper to build on Sui, according to VanEck, cutting down the lines of code needed by 40% compared to Solana.
VanEck has released the SUI ETN for institutional investors, while Grayscale also holds the SUI product.
SUI is down 6% over the past 24 hours, possibly providing a buying opportunity, although investors should be on the lookout for signal resolution, with the next happen on January 1st.
Cutoshi's Memefi Ecosystem
Like SUI, Cutoshi wants to help bridge the gap between Web2 and Web3. As an attractive memecoin, CUTO has an inherent appeal, based on the Waving Lucky Cat. This is what many investors will be attracted to first, especially DOGE fans.
Underneath that is a DeFi ecosystem that includes a DEX platform that allows for cross-chain transactions. This will make it easier for investors to transact over blockchain. The team is also launching a learning academy, token farming, quizzes and more. Cutoshi also plans to design a beautifully designed set of NFTs that will be used throughout the ecosystem.
The project is still in pre-sale, making it a great addition to DOGE and SUI for a portfolio. The crypto community has been responding well to Cutoshi, sending the coin moving to X and raising more than $1.3 million.
For more information on the Cutoshi (CUTO) Presale:
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Source: https://thenewscrypto.com/dogecoin-bulls-have-started-acquiring-holdings-in-sui-and-this-new-meme-coin-catching-fire/
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