However, the famous crypto whale ‘7 Siblings’, which holds assets worth over $2.2 billion, acquired over 28,000 ETH, valued at $66 million, during the recent downturn at $2,350. This has sent Ethereum investors into fear, uncertainty, and doubt.

Investors doubtful of Ethereum’s recovery are jumping in on the new utility memecoin on the Ethereum network, Cutoshi (CUTO). Investors are getting in early on this new token to maximize their potential for hundredfold gains.

Ethereum (ETH): Long Traders Keep Getting Trapped

Ethereum (ETH) has been in a major downtrend since its 52-week high of $4093.88 in March. The current market price for Ethereum is $2,324.88. Over the last 24 hours, Ethereum’s price has dropped substantially by 5%, and its daily volume has also decreased by over 12%.

Ethereum’s (ETH) value has dropped over 12% this week after being unable to break the resistance level of $2704.73. Ethereum is trading below the 20-day and 50-day Simple Moving Averages.

The Relative Strength Index of 37 implies that Ethereum is going in the oversold regions. The bearish pressure should start to decline here, and bulls may come in with volume at the support level of $2249.88. If this support fails, another support lies at the $2163.38 price mark.

However, The Moving Average Convergence and Divergence (MACD) indicator crossed the zero line today, indicating increasing bearish momentum.

Cutoshi (CUTO): The Ethereum-Based Utility Token Set For Exponential Growth

Cutoshi (CUTO) is getting massive attention amid uncertain market action due to its fun nature and practicality. Cutoshiis a memecoin with a serious purpose – boosting the Decentralized Finance (DeFi) culture.

Cutoshi utilizes meme appeal to promote DeFi to the masses. It offers a range of practical DeFi features, such as the Cutoshi DEX, Cutoshi University, Cutoshi Farming, NFTs, etc. The Cutoshi Decentralized Exchange (DEX) is a multi-chain platform that lets users swap assets across multiple chains securely, with more freedom, better privacy, and lower costs than centralized exchanges.

The Cutoshi Academy is created to spread awareness about DeFi and make blockchain accessible to everyone. Most of the educational content will be free. The academy will have content related to DeFi concepts for newcomers to give them confidence in entering the crypto world.

Cutoshi rewards its community members via token farming. This concept maintains engagement and enjoyment, allowing users to earn bonuses.

Cutoshi awards limited edition NFTs to members who participate in quests and challenges. These NFTs will have many unique functionalities in the ecosystem. Members can hold these as a badge of honor or trade them for gains.

At the heart of the ecosystem, the native CUTO token powers the entire platform. The CUTO token is selling at $0.015 in the first stage of the presale.

Some experts predict Cutoshi will reach $1 in 2025. This means early investors in this memecoin could make over 3,000% returns on their investment. So $1000 invested at this stage would be worth $30,000 if the token reaches the $1 price mark.

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.