As the crypto market continues its turbulent pace, two familiar names are drawing renewed attention—Shiba Inu (SHIB) and Cutoshi (CUTO). One is a well-known meme coin navigating a prolonged price slump. The other is a rising project building tools with a focus on privacy and decentralization. While their strategies differ, both are delivering updates that could impact market sentiment in the weeks ahead.
Shiba Inu Struggles to Break Free
The value of Shiba Inu (SHIB) remains constant at $0.00001192, which is quite different from the $0.00002192 it was in early 2024. This major drop has meant that only 20% of the holders are in the money, as per data from Santiment. Some months back, the figure was 91%.
However, the outlook is not all dark: SHIB tokens being burnt have seen a dramatic increase in volume. Shibburn data shows that the daily burn rate has increased by 3,206%, with 30.1 million tokens being destroyed from existence. While this does not necessarily mean that prices will go up, the slow reduction of supply can only help stabilize or increase the value of the token as long as there is no drop in demand.
- Key Price Zone: This is considered an important support level since the price has been trading around $0.00001192 for several days in a row.
- Profitability Concerns: Currently, only twenty per cent of all SHIB holders are in the money, which shows how weak the token has been in the recent past.
- Possible Upside: If the burn rate keeps on increasing and the market sentiment becomes positive, then Shiba Inu may try to bounce back. As always, the timing is hard to predict, especially in a crypto market that is known for being quite volatile.
Cutoshi Debuts New Swap Website
On the other hand, Cutoshi has released the Cutoshi Swap site that enables users to exchange their digital assets without the need to link their wallets. This new approach is meant to give people a sense of agency over their money, without having to go through traditional third-party integrations.
What Makes Cutoshi Swap So Special?
- Wallet-Free Option
It is possible to handle swaps without actually linking a wallet, which increases anonymity and decreases the chance of unauthorized access. - Cross-Chain
Users can easily transfer assets between various blockchain networks thanks to the platform’s multiple blockchain support. - No Asset Restrictions
Decentralized principles are true to form, and the platform has very few restrictions, which means that fewer tokens are blacklisted. - Full Autonomy
This is because users have their private keys with them, which means that they don’t have to rely on centralized exchanges as much.
If you’re interested, you can check out CutoshiSwap.com and sign up for the waitlist to be informed when the swap dApp goes live.
Takeaways
Even though Shiba Inu and Cutoshi are different entities, their latest news shows that the crypto space is always evolving. Shiba Inu’s burn program may help to stabilize or even raise the price of the SHIB token if investors regain confidence. Also, Cutoshi’s wallet free swap feature seems to be well positioned to appeal to those who want more privacy and more chains.
- Shiba Inu: It will need more than just token burns to come out of the current price zone, but this burn surge could be the first sign of better times.
- Cutoshi: The new site’s approach may well attract a lot of users who are looking for a less complicated and more self-service oriented asset management.
In a constantly changing market, projects that address actual user pain points tend to do well for longer than those that are simply hyped up. Shiba Inu is playing on the supply side, Cutoshi is betting on privacy and accessibility – both of which could be good in a competitive crypto space.
Discover More About Cutoshi:
Website: cutoshi.com
Twitter (X): @CutoshiToken
Telegram: t.me/Cutoshi