Early investors of Shiba Inu (SHIB) have been keeping a close eye on Cutoshi, a new meme coin that’s showing familiar patterns to SHIB’s early days. With SHIB’s spectacular 1,381,096% rise since its launch, crypto enthusiasts are wondering if lightning could strike twice with Cutoshi.
While SHIB now commands a massive $10.5B valuation, Cutoshi sits at just $9M during its presale phase, presenting a similar entry point to what SHIB offered its early investors in 2020.
Shiba Inu Has The Blueprint For Meme Coin Success
SHIB’s journey from a simple dog meme coin token to a full ecosystem with DeFi, games, and more began with Ryoshi’s vision of “decentralized spontaneous community building.”
This philosophy proved revolutionary, as the project evolved beyond meme status to launch ShibaSwap, develop the Shibarium Layer 2 blockchain, and build a devoted community known as the Shib Army.
The project has shown commitment to both fun and functionality. With terms like ‘PuppyNet’, “Shiboshis’, and staking and reward tokens like ‘LEASH’ and ‘BONE’. But at the same time, developing serious DeFi infrastructure created a unique blend that attracted both casual investors and serious DeFi users. This dual-pronged approach has helped SHIB maintain relevance long after other meme coins faded.
Innovations from the team include:
ShibaSwap – A DEX for staking, liquidity, and token swapping.
Shibarium – Shiba Inu’s Layer 2 blockchain.
The Shib Magazine – Covering innovations and updates in the Shibarium ecosystem.
Shib Name Service – Digital identity system for multichain wallet addresses and Web3 usernames.
Shibacals – Service for transforming NFTs into physical collectibles.
Shiba Eternity – A collectible card game featuring Shiboshis.
Shib the Metaverse – A virtual world for purchasing land and creating immersive experiences.
The Shib Daily – A news platform providing updates and analysis on the Shibarium blockchain.
In recent news, Shiba Inu has automated the process of their burning, helping to shore up prices.
Shiba Inu is currently the 13th biggest coin by market cap, up by 22% on the monthly chart and 144% on the yearly chart.
Can Cutoshi Follow The Lucky Path?
Cutoshi is currently in stage 2 of its presale, and appears to be following SHIB’s successful template while adding its own unique elements. Like SHIB’s connection to Japanese culture through the Shiba Inu dog, Cutoshi draws inspiration from the Chinese Lucky Cat and combines it with Satoshi Nakamoto’s vision of decentralization.
The project’s whitepaper outlines a comprehensive ecosystem, including:
A p2p Cross-Chain Cutoshi DEX – for easy and private trading across blockchains.
Staking and Farming – to help investors learn and earn with DeFi.
Group Quests and Competitions – to unite the community.
A Utility-based NFT Collection – which will provide DeFi benefits like discounts on trading.
A Merch Shop – where token related items are purchasable with the native token CUTO.
A Learning Academy – helping people grow and integrate with the world of web3.
CUTO Burning – 7% of the tokens are reserved for burning, much like Shib’s burn system.
This is similar to SHIB’s expansion from simple token to full DeFi ecosystem. With one of the key factors being the utility of the CUTO token. The emphasis on community-driven development and governance also echoes SHIB’s successful approach.
Memecoins are inherently unpredictable but coins like Solana’s POPCAT returned over 10,000% in 2024, investors can see there is a lot of room for growth for Cutoshi. CUTO is currently at $0.022, up by 46% from stage 1 of its presale.
For more information on the Cutoshi (CUTO) Presale:
https://cutoshi.com/
Join and become a community member:
https://twitter.com/CutoshiToken
https://t.me/cutoshi
Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
Source: https://cryptodaily.co.uk/2024/10/shiba-inu-early-holders-spot-similarities-with-meme-coin-cutoshi-as-gains-are-on-the-horizon