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Shiba Inu, the popular dog-themed meme coin, could be set for a major resurgence after the recent token burn. Recent data from Shibburn, shows that over 49.69M SHIB tokens were removed from circulation in the past seven days, which could position the meme coin for a strong rally in the coming weeks.
Meanwhile, the Cutoshi project is also attracting attention mainly due to the deflationary mechanism. Out of the limited 440M total supply, 7% was allocated for burning events, following the path of the Shiba Inu token. With the expectation of token scarcity in the future, there is growing optimism that Cutoshi’s price will hit $1 in 2025, driven by the limited supply.
How Cutoshi’s Limited Supply Will Impact The CUTO Growth
One of the core objectives of crypto ecosystems is price stability, which has led to many platforms like Shiba Inu introducing token burn mechanisms to keep prices in check. Following this route, the Cutoshi token, CUTO, is deflationary with a buy-and-burn mechanism designed to keep the value in check. Outside of that, the limited supply is projected to increase its adoption.
Driven by a robust ecosystem that houses a multi-chain DEX that will allow for seamless swapping of digital assets across multiple blockchains. Cutoshi Academy allows users to broaden their understanding of the DeFi and crypto market at large.
There is also Cutoshi farming, in which users are rewarded for completing quests, tasks, etc. Given that CUTO is used for trading discounts in the DEX and to access exclusive materials in the academy, meanwhile, Cutoshi’s main objective is full decentralization and financial freedom, following core DeFi principles.
Sold for just $0.022, early investors have already made 46% ROI as the CUTO price increased from the initial $0.015. Notably, the recent listing on CoinMarketCap adds to the project’s credibility.
Will The Recent Spike In The Shiba Inu Token Burn Rate Trigger A Bullish Rally?
Having declined significantly in the past week, there is growing optimism that the recent surge in burn rate will lead to a reversal. CoinMarketCap data shows that Shiba Inu’s price has dropped by a slight 2% in the past week, pushing the meme coin below the $0.000018 support zone.
A crypto analyst, Fiatleak, highlighted bullish momentum for the Shiba Inu token in a post on X. According to the analyst, the Shiba Inu TD sequential indicator is flashing a buy signal, suggesting the recent downtrend might be losing steam. The analyst believes if the Shiba Inu price is able to break the $0.00001891 resistance zone, the meme coin price could head towards $0.00002288.
Meanwhile, Shiba Inu’s key market indicators are not convincing. The moving averages are flashing a sell signal with bearish market sentiment. However, the Shiba Inu Fear and Greed index is 69 (Greed), an indication that a resurgence might be on the way. In their Shiba Inu price prediction, Coincodex forecasts a modest rise to $0.00001815 in the short term. With the rising Shiba Inu trading volume, the meme coin is expected to bounce back soon.
Which Coins Will Lead The Next Bull Cycle
The adoption of meme coins has grown rapidly in the past months, fueled by the high returns on meme coin investment. While there are thousands of meme coins in the market, investors are searching for coins with real value. Driven by the robust ecosystem and its mission to bring DeFi to the masses, Cutoshi could follow the path of Shiba Inu and witness success.
