Hi Guys,

It's $DOGE Psychological level of $0.10

Dogecoin Inches Closer To Psychological $0.10 Mark 'Should Be The Bottom,' Trader Thinks

On Aug. 2, crypto trader Poseidon shared that he is buying spot Dogecoin and his target is $0.30.

Meanwhile, crypto trader Kaleo believes the worst is over for Dogecoin.

He has a good feeling about the drop and how the major meme coins are settling. He does not expect further downside, saying, "DOGE doesn’t dip to the low 6-7 cent range we were looking for. High 7s / Low 8s that we’ve seen should be the bottom."

Why It Matters: Dogecoin managed to recover some of its 37% weekly losses and is now close to the $0.1 mark. This comes amid an 834.3% spike in Dogecoin exchange netflows. Large transaction volume rose by 119.2%, while daily active addresses increased by 26.9%.

Transactions greater than $100,000 spiked from 257 on August 4 to 666 transactions on August 5. 70% of Dogecoin holders are currently making a profit.

Price Action: In the past 24 hours, DOGE is trading 2.7% higher at $0.09766.

What’s Next: The influence of Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.

#BTCMarketPanic #RecessionOrDip? #MarketDownturn #BinanceTurns7 #Write2Earn!