As memecoins continue to dominate the market narrative in 2024, some Dogecoin bulls are branching out into emerging projects like Sui and Cutoshi. While DOGE remains a favorite, the appeal of Sui’s innovative blockchain design and Cutoshi’s meme-inspired DeFi ambitions are catching the attention of traders.
Dogecoin’s Supercycle Sparks Interest In New Opportunities
Dogecoin hit its all-time high of $0.73 in the last bull run. This year the super cycle for meme coins, Elon Musk as head up a government department for D.O.G.E, suggests Dogecoin future potential.
While Dogecoin has yet to reclaim its all-time high, currently trading at $0.43, various analysts are predicting that the coin has a lot of room to grow. Trader Tardigade recently posted a chart suggesting the Dogecoin pattern could lead to $10.
Some commenters questioned this, citing that Dogecoin would have to reach a market cap that is currently more than 3x that of Bitcoin. $10 may be overoptimistic, however, if BTC reaches $500,000 per coin due to the US adopting it as a national reserve, then its market cap will also be much higher.
Sui’s Potential For Mass Adoption
Sui is another layer 1 blockchain VanEck predicts its ready for mass adoption, as it is finally capable of tackling usability, speed and cost.
Sui is fast, finalizing 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 accessible for everything from micropayments to high-frequency apps. It is also easier and cheaper to build on Sui, according to VanEck, slashing the lines of code needed by 40% compared to Solana.
VanEck has released a SUI ETN for institutional investors, while Grayscale also holds a SUI product.
SUI is down 6% over the last 24 hours, potentially presenting a buying opportunity, though potential investors should watch out for token unlocks, with the next one occurring on January 1st.
Cutoshi’s Memefi Ecosystem
Like SUI, Cutoshi wants to help bridge the gap between Web2 and Web3. As a catchy memecoin, CUTO has inherent appeal, based on the Waving Lucky Cat. This is what many investors will be initially drawn to, especially fans of DOGE.
Beneath that lies a DeFi ecosystem which contains a DEX platform that allows cross-chain transactions. This will make it easier for investors to make transactions across blockchains. The team is also launching a learning academy, token farming, questing and more. Cutoshi also plans to release a beautifully designed set of NFTs which will have uses throughout the ecosystem.
The project is still in presale, making it an ideal addition to DOGE and SUI for a portfolio. The crypto community has been responding very well to Cutoshi, sending the coin trending on X and raising over $1.3 million.
For more information on the Cutoshi (CUTO) Presale:
Join and become a community member:
