After moving in a narrow range over the past few weeks, Solana (SOL) is teasing a breakout above a crucial resistance level. Meanwhile, Dogecoin (DOGE) and newcomer Cutoshi (CUTO) are seeing an influx of new holders as meme season continues to rule the market.
Solana Dips But Whales Step In
After peaking at $263, Solana’s momentum slowed down and an 11% correction followed. Solana (SOL) consolidating has been at lower levels, with the price retesting support below the $230 mark. However, sentiment around Solana is still overwhelmingly bullish, as every dip has been bought up almost immediately.
According to data from Lookonchain, over the past few days, whale activity has increased substantially as large buyers are scooping up massive quantities of SOL at discounted prices. Between December 3 and 4, roughly $42 million worth of Solana has been withdrawn from exchanges, amounting to 185,000 SOL tokens.
Moreover, with Trump’s flurry of pro-crypto policies waiting to be implemented as soon as he officially enters the White House, Solana ETFs are bound to become a reality in 2025. Many fund managers, including VanEck and Bitwise, have already filed for approval and most recently, industry giant GrayScale has applied with the NYSE as well.
It’s important to note that one of the main drivers behind Solana’s massive success is its meme coin factory, which has driven tremendous revenue numbers back into the ecosystem. With the entire market focused on memes, Dogecoin and Cutoshi are also set to outshine their previous rallies.
A Dogecoin Breakout Is Imminent?
Dogecoin continues to consolidate as well, with its price fluctuating between $0.40 and $0.42. Buying pressure is building up for Dogecoin as bulls continue to relentlessly test the $0.43 resistance. At press time, Dogecoin sells for $0.42 with a 5.9% intraday decrease and a 3.7% weekly uptick.
As trader and analyst Bluntz Capital points out, Dogecoin has been moving within a triangle formation and a breakout. Confirmation above the descending trendline will likely propel Dogecoin to new heights. The first main target is the $0.50 mark, which could act as a springboard for the upward move toward the $1 milestone. Many other analysts on X seem to agree with this thesis, as they too share similar chart readings.
Meanwhile, whales are purchasing mammoth amounts of Dogecoin. According to Ali Martinez, they have bolstered their positions with 160 million DOGE over the last weekend, highlighting growing interest, which could translate into a massive rally in the upcoming weeks.
Discover Cutoshi, The Luckiest Cat On The Blockchain
Cutoshi brings together meme energy and cutting-edge DeFi tech to create a revolutionary MemeFi platform that could redefine the entire space. The project pays tribute to the Lucky Cat of Japanese tradition which is said to bring good fortune to businesses and households. Cutoshi digitizes this good fortune and delivers it to the rapidly growing community in the form of lucrative rewards and prizes.
At the center of this ecosystem is CUTO DEX. This is a non-custodial exchange that allows for near-instantaneous swaps across major blockchains with some of the lowest fees in the DEX landscape.
Cutoshi encourages user engagement through various quests and tasks aimed at spreading awareness about the project. For their efforts, community members will receive CUTO points which can then be redeemed for the native $CUTO token post-presale. But this is just the tip of the iceberg of Cutoshi’s offering, as many more surprises await newcomers.
Stage 3 of the $CUTO presale sold out in record time and Stage 4 is underway and tokens are selling for just $0.031. When taking into account all that this project has to offer and its low-cap status, any investor looking for massive price multipliers should consider looking into Cutoshi.
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