While established meme coin Shiba Inu (SHIB) experiences market pressure with an 18% weekly decline, newcomer Cutoshi (CUTO) is attracting investor attention with its presale reaching $1.6 million. The development signals a potential shift in the cryptocurrency market's meme coin sector, as investors seek alternatives combining entertainment appeal with practical utility.
Shiba Inu, trading at $0.000019, has seen its trading volume drop 25% to $320 million in recent days. Despite challenges, SHIB maintains some positive indicators, including a 600% increase in its daily burn rate and significant growth in its Layer-2 network Shibarium, which has processed over 815 million transactions across 2.1 million addresses.
Cutoshi distinguishes itself through a planned decentralized exchange (CUTO DEX) and farming mechanisms allowing token holders to earn passive income through staking. The project has gathered 3,700 active community members and offers its token at $0.031 during its fourth presale stage, which is 74% complete.
The emergence of Cutoshi reflects a broader trend in cryptocurrency markets where investors increasingly favor tokens that combine meme appeal with functional features like decentralized finance (DeFi) capabilities. This development could signal a maturing market where pure meme coins face pressure to evolve and offer tangible utility to maintain investor interest.
