Top Crypto Analysts Say Floki (FLOKI) Will Struggle To Compete With Cutoshi (CUTO) In The Future
Memecoins have dominated the cryptocurrency world in 2024. Among them, Floki (FLOKI) inspired by Elon Musk’s Shiba Inu dog, is one of the top gainers. However, a new contender, Cutoshi (CUTO), is emerging. According to analysts, Floki could find it difficult to compete with the MemeFi ecosystem in the future.
The Rise of Floki and Its Challenges
Floki first gained traction as a fun meme following the footsteps of Dogecoin and Shiba Inu. Garnering a big community, Floki managed to win over a lot of supporters. This secured Floki a 3752% all-time growth.
This year has been good for Floki as well as it’s up 652%. However, the last 30 days' growth slowed as Floki is up 17% and the week is down 14.61%. Both the daily and the weekly charts moving averages indicate a sell signal. With an RSI of 49, Floki is nowhere near oversold and we could see it fall further.
In recent developments, Floki’s game Valhalla has some promotions and there’s a new partnership with Nottingham Forest. GraFun meme launchpad is also a reason for optimism. However, at a $1.34 billion market cap experts are skeptical about how much Floki can grow.
The base is there and growth is very possible, but analysts agree Floki can’t pull another 652% year on year. Those days have passed, and smaller growth is what investors are looking for. Reaching $0.0002 by the end of the year would be a tremendous success.
One of the tokens that is unburdened by these limitations is CUTO.
Enter Cutoshi: A Memefi Ecosystem with Real Utility
Cutoshi is set to change the narrative of meme coins as useless tokens. This token uses a MemeFi ecosystem which combines the activity and participation of the memecoin sectors with the utility of a DeFi system. These elements are very important for growth.
We’ve seen meme coins dominate 2024 because they garnered big user participation. We’ve also seen them fall short later on because of the lack of utility. Cutoshi combined these elements.
Inspired by the Chinese Lucky Cat and Satoshi Nakamoto’s vision for decentralization CUTO’s dual focus on memes and DeFi sets it apart from traditional meme coins/DeFi tokens.
As meme coins grew by 169% in Q1 of 2024 alone, and DeFi is projected to double by 2031, this positions Cutoshi in a very promising field. Cutoshi’s ecosystem includes a multi-chain decentralized exchange, token farming mechanisms, educational platforms, and NFTs. This gives users real utility beyond hype. Especially with its tokenomics.
The CUTO token fuels this ecosystem as the primary currency. As the system’s fees are used to buy back and burn Cutoshi, this creates a system that organically creates buying pressure and decreases the supply of CUTO. Therefore increasing its price.
According to analysts, this gives CUTO a significant edge. Especially since it’s in an extremely early phase, the growth potential is tremendous. Analysts claim we could see an x100 similar to the likes of other meme coins in their early days such as Dogecoin, Pepe, and Floki itself.
Considering First Neiro on Ethereum grew by 700% in 24 hours when it was listed on Binance, just simple CEX listings in Q4 are set to propel CUTO even without considering its utility and community activity long term.
Conclusion
Many investors are switching to Cutoshi, expecting higher gains and expecting them sooner. Floki, with its $1.34 billion market cap is certainly going to struggle to keep up with this growth.
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