Long-term Bitcoin holders were one of the biggest winners in crypto. These traders are now sitting on substantial holdings, with money to spare to invest. Some are looking to replicate these early gains, with a mix of memecoins like Doge, utility tokens like AVAX and early-stage projects like Cutoshi.
Doge Set to Remain Meme Coin King
The recent market retracement hit the memecoins hardest and Dogecoin (DOGE) was not an exception. On December 10, Doge saw a daily decline of 11.67%, trading at $0.38363. However, some traders see this dip as a good opportunity to buy.
Despite the recent downturn, Dogecoin was one of the biggest winners this market cycle. Since the US elections, its price rose 350%. The main reason for Doge’s rally was the media spotlight on one of its biggest promoters. Billionaire Tesla CEO Elon Musk has won himself a seat at the White House.
Source: CMC
Musk did not miss the opportunity to promote Dogecoin, naming his Department of Government Efficiency (DOGE) after the token. Thanks to this development, Doge is likely to retain its position as the king of memecoins.
For that reason, traders are seeing it both as a safe bet compared to other memecoins, while still having significant upside.
Avax Regains Steam On Major Partnerships
Other than memecoins, a balanced portfolio also needs utility tokens. This is why traders are looking at Avalanche (AVAX), a high performance blockchain that just may be severely undervalued. After a year of very slow performance, Avalanche is now picking up steam.
The token has more than doubled from its October lows of $22 to its recent highs at $54.1. Even after the correction to its current level of $43.81, this has put Avalanche in the green this year, with a 21.98% year-over-year increase. Still, Avalanche is one of the worst performers this year among the top 20 crypto assets.
The reason for Avalanche’s low performance was low traction on its chain, coupled with a significant token circulation. Large token unlocks have consistently pushed the price down. Despite this, Avalanche is in a strong position to grow. The platform has secured several high-profile partnerships, including Amazon and Visa.
This is because its scalable and customizable blockchain is very attractive to institutional players. As more institutions enter the blockchain space, Avalanche is in a good position to benefit. This may reveal that the token is still undervalued.
Viral MemeFi Token Cutoshi Sees Explosive Growth
For a winning portfolio, investors are looking for a balance between memecoins and utility tokens. One token that’s a great pick for this strategy is Cutoshi (CUTO), a memeFi token that combines these two aspects.
Most recently, Cutoshi has attracted significant attention. The token achieved viral status on X (formerly Twitter) after reaching $1 million in investments just weeks after the launch of its presale. As of December 10, presale investments stand at $1.359 million.
The reason for its success was its combination of memes and DeFi. Cutoshi’s meme symbol is the Maneki-neko, a symbol that people in Asia believe brings luck and prosperity to the household.
At the same time, Cutoshi takes inspiration from Satoshi Nakamoto, legendary Bitcoin creator. As such, it wants to bring decentralization to as many people as possible. With its user-friendly multichain DEX and a learning platform for new users, Cutoshi hopes to use memes to make DeFi accessible.
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