Ethereum, the popular altcoin, has been facing selling pressure in recent weeks. Data from the on-chain crypto market transaction tracker LookinChain shows how whales have continued dumping the Ether token in recent weeks. The impact of the selling pressure is also seen in the Ethereum ETF inflows, which show a negative 3,968ETH (—$9.69M) in the past day.

Amid the drop, smart whales are using the dip to accumulate more ETH tokens, while some are diversifying to the Cutoshi ongoing presale, which is dubbed the next Popcat. With the backing of a multichain DEX exchange designed to solve common issues in CEX, CUTO is projected for 100x in the coming weeks. More details below.

Cutoshi Meme Coin Projected For 100x In The Coming Weeks

Cutoshi is a revolutionary Ethereum-based meme coin that aims to solve common issues in DEX and CEX exchanges. Following the core principles of Satoshi Nakamoto and the traditional Chinese Lucky Cat, Cutoshi is building an ecosystem in which investors are given decision-making powers and control.

The ecosystem will follow the principles of freedom, privacy, anonymity, and monetary empowerment, which are DeFi’s core agenda. In essence, the ecosystem is following Nakamoto’s visions for blockchain technology which are decentralization, privacy, and monetary empowerment. To accomplish these goals, Cutoshi is building a unique ecosystem that is different from what is obtainable in the market.

One of the major features of the Cutoshi ecosystem is a multichain DEX exchange, which allows for cross-chain asset swapping without a third party. This solves issues of privacy and security. Other features worth noting are the Cutoshi University, farming protocol, and NFT merchandise, designed to enhance user experience and boost investors’ income.

Meanwhile, the team has raised over $300K at the ongoing presale, which could hit $1M soon. The native token CUTO is sold for $0.015. Some analysts think that with the rising momentum, it will offer much more ROI than Popcat, which saw over 1000% growth within days of listing. As such, with the 440M limited supply, investors have little time to join before the price rallies.

Ethereum Price Analysis – Can Ether Price Retest The $2600 Mark

Having faced selling pressure in the past week, Ethereum’s price has continued to struggle. CoinMarketCap data shows that Ethereum has declined below the $2500 mark, with trading volume also in a downward trend. The increased selling pressure is also noticed in the Ethereum market cap which has dropped from $451B in early June to less than $300B.

Ali Martinez, a popular crypto analyst on X, maintained that Ethereum’s price needs to hold support above $2300 to stand a chance of bouncing back towards the $6000 mark. Ali thinks a drop below the zone could push Ether’s price to $1600. Meanwhile, the overall Ethereum market sentiment is worrisome as the ETH price is below the 50-day and 200-day EMA.

Other key market indicators, such as the MACD and RSI, are neutral. A further look at the daily Ethereum chart pattern shows it has failed five attempts at surpassing the $2,420 mark, which served as a previous support zone. Even at that, smart whales are using the dip to accumulate the crypto with Coincodex Ethereum price prediction around the $2596 mark in the short term.

Source: Tradingview

Why Now Is The Best Time To Invest In Cryptos

The last quarter of every year is one of the favorites in the crypto space, with top cryptos witnessing significant rallies. With Bitcoin already sitting comfortably above the $60K mark, altcoins will soon head to the moon. Given the high price of Ethereum, investors might consider cheaper alternatives like Cutoshi, which is witnessing massive adoption.

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

This is a sponsored article. Opinions expressed are solely those of the sponsor and readers should conduct their own due diligence before taking any action based on information presented in this article.