Dogecoin fell 10% in a week...Arthur Hayes "DOGE has a clear presence in the market"

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▲ Dogecoin (DOGE) ©Coin Leaders

The original meme (internet buzzword) cryptocurrency Dogecoin (DOGE) has fallen nearly 10% over the past week.

It is interpreted that Bitcoin, which was above the $71,000 level, fell to the $69,000 level due to the influence of the US employment market indicator announced on the 7th (local time).

Dogecoin has usually been shown to synchronize with the price of Bitcoin.

Meanwhile, Arthur Hayes, co-founder of BitMEX, and Raoul Pal, CEO of financial services company Real Vision, said in a recent YouTube broadcast, “A Dogecoin spot ETF could be launched.” "he said.

Raoul Pal said, “DOGE has the advantage of being in a unique position as the original memecoin,” and Arthur Hayes said, “DOGE has a clear presence in the market and is popular.”

The two also predicted that Tesla CEO Elon Musk's participation may lead to the mainstream financial commercialization of DOGE.

According to CoinMarketCap data as of 7 a.m. on the 11th (Korean time), the price of Dogecoin, the 8th largest cryptocurrency by market capitalization, was $0.1439, down 9.37% from a week ago.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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