Dogecoin’s Downward Trend Amidst Strong DeFi Interest in New Token MUTM

Dogecoin (DOGE) faces pressure from significant exchange outflows, despite maintaining a bullish trend. Analysts attribute this to waning investor confidence, reflected in the recent $38.6 million net outflow recorded on October 3rd. Meanwhile, a new DeFi token, Mutuum Finance (MUTM), has garnered significant attention with its presale exceeding $16.85 million raised from over 16,770 investors. This interest in MUTM offers a stark contrast to DOGE’s current sentiment, prompting many to seek out alternative opportunities for growth.