Meme Mania Is About to Kick Off as Shiba Inu Records a Significant Surge in Transaction Activity

Given their low prices, short-term investment opportunities, and huge social media support, meme coins are expected to lead the Q4 market rally as they have done since the beginning of 2024.

Anticipating a market boom, meme coins are expected to lead the Q4 market rally with their low prices, short-term investment opportunities, and huge social media support. Shiba Inu has seen a significant surge in transaction activity, with over 6 million SHIB tokens burned in October.

According to on-chain data from IntoTheBlock, large wallets have traded close to 6 trillion SHIB tokens in the past few days, with 224 significant transactions recorded. This activity is fueling speculations of an imminent market rally.

Moreover, Ever Crypto Sage, a crypto analyst on X, believes the Shiba Inu token is primed to break out soon. This expert’s position is based on the Shiba Inu price consolidating around $0.000018 and a surge in Shibarium transaction volume. With the formation of the bullish pennant, Eva thinks the Shiba Inu token might hit the $0.000030 price point very soon.

Zooming in, the Shiba Inu market sentiment is neutral. While Shiba Inu is trading above the 50-day SMA, the price is below the 200-day SMA. However, CoinMarketCap data shows that Shiba Inu trading volume is slightly on the rise which could push the SHIB token price above $0.000018, a catalyst that could drive the price towards $0.000020 soon.

On the other hand, Dogwifhat price has declined in the past few days after a series of failed attempts to break through the $3 mark. With Dogwifhat price dropping by 7% in the past week, the coin has found support at the $2 mark.

CoinMarketCap data shows that Dogwifhat trading volume is on the rise, a signal that shows the rally is not over yet. WorldOfCharts, a popular analyst on X, believes the Dogwifhat token rally is yet to be completed. In his analysis on X, WorldOfChart noticed the WIF breakout and retest, projecting a $5 move in the coming days.

Dogwifhat has three critical resistance levels to pass before a resurgence can be completed. They are $2.53, $2.68, and $2.75. Although Dogwifhat crypto recorded just 12 green days in the past month, once it flips these zones, it will likely hit $5 this month. Coincodex remains bullish, with a Dogwifhat price prediction of $7.46 in the short term.

Finally, Cutoshi (CUTO) differs from other meme coins because it has real utilities. While meme coins such as Shiba Inu and Dogwifhat thrive on hype, Cutoshi is backed by a fantastic ecosystem with tools and features. For instance, a non-custodial multi-chain DEX will allow for seamless swapping of cryptocurrencies across various blockchains, solving issues of privacy and security.

Another selling point is the Cutoshi Academy, which is designed to enhance users’ knowledge of DeFi and the crypto market. To reward the community, Cutoshi is developing a farming protocol that will reward members who complete different quests with CUTO tokens. Given the token’s strong utility in the ecosystem, it is expected to hit the moon soon.

Meanwhile, the Cutoshi Spooky Savings Event is here, and users are given a 20% bonus on all deposits. However, this is just for 5 days, making now the best time to utilize the opportunity and accumulate the token. With the recent CoinMarketCap listing and the upcoming CoinGecko listing, the Cutoshi token price is projected to hit $0.5 by end of year.

At $0.022, now is the best time to accumulate the token. Within a few weeks of launching the presale, over 80% of the tokens mapped out for stage 2 have been sold with the team raising over $650k. Given the rising momentum and its mission of following core DeFi principles, Cutoshi will likely enter the top 50 coins on CoinMarketCap sooner than anticipated.

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