Bonk Sees Declines in Recent Downturn
Solana-based memecoin Bonk has taken a beating in the recent market downturn. The token dropped 10.50% in just one day to $0.00002024. Amid Bitcoin dropping back to $60,000, most tokens have lost even more.
Despite this, Bonk is up 24.06% in the last 30 days. This reflects the increasing interest by traders in the largest memecoin on Solana. Since its launch in 2022, Bonk cemented its position in the Solana ecosystem. This was partially thanks to the support of the Solana Foundation itself.
Notably, Bonk was one of the memecoins that came with the Solana Mobile’s Saga phone. Each Saga buyer received a large number of Bonk tokens with the phone. This support by Solana also incidentally saved Saga sales. After Bonk surged, the tokens that came with Saga were actually worth more than the phone itself. This led to a frantic buying of Saga phones, which consequently sold out.
This viral excitement pushed Bonk to a yearly growth of 9533.57%. However, at the $1.44 billion market cap, the memecoin has somewhat limited upward potential. This is why investors are increasingly looking at other tokens that can deliver much higher gains. One of them is the new DeFi powerhouse Cutoshi.
Cutoshi Has a Real Shot at $1
The new DeFi sensation Cutoshi (CUTO) is taking the markets by storm. This fun meme coin combines the Chinese Lucky Cat avatar with the name and teachings of Bitcoin creator Satoshi. As such, Cutoshi wants to bring prosperity to your portfolio, while also building a decentralized future.
Its ecosystem will feature a multichain DEX, a farming feature with staking and quest rewards, NFTs, and a crypto academy. All of these features will work to create a complete decentralized ecosystem run by its users. This DeFi ecosystem will allow everyone to trade without restrictions, and with very low fees.
Moreover, a part of the revenues from the DEX will go towards buybacks and token burns. Because Cutoshi has a fixed supply, the DEX makes the token deflationary. What is more, with a supply of just 440,000 tokens, Cutoshi has a realistic chance of reaching $1.
Compared to Bonk’s supply of 100 trillion, Cutoshi is relatively scarce. The token is also Ethereum-based, which gives it an additional advantage. Solana-based tokens, out of which Bonk is one, have a somewhat negative perception. Many Solana tokens are low effort, due to how easy it is to launch. This means that Ethereum still remains the preferred platform for meme coin investors.
Conclusion
With Bonk seeing market saturation and recent losses, Cutoshi is in a great position to challenge it. With its low presale price of $0.015 and a real shot at $1, Cutoshi has the potential for major gains. But traders that want to take advantage of this have to act quickly, before the token’s price increases.
- 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
Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here.
