Dogecoin (DOGE) is currently falling, trading close to $0.21. This comes as the overall crypto market is uncertain and investors are unsure about where DOGE might go next.
Because of this, investors are shifting their interest towards upcoming protocols in DeFi such as Mutuum Finance (MUTM), an up-and-coming player valued at $0.035.
MUTM is in the sixth presale level and missing an entry here will mean paying 14.28% more when phase 7 comes along. Over $15.45 million has been raised so far and the project has already registered over 16,100 investors. As liquidity flows and risk-on capital seek utility-oriented applications, the focus is quietly shifting off the better-known names such as Dogecoin and onto emerging DeFi coins, possibly paving the way to a new phase of decentralized finance development.
Dogecoin Liquefies as Wider Market Swings Play out
Dogecoin price has slipped over the last week, now just above $0.20. DOGE has seen mild price swings over the last 24h.
This recent dip is part of a broader change in market sentiment and is influenced by technical factors such as resistance levels and low activity from large investors. Meanwhile, Mutuum Finance is getting a lot of attention in this changing market.
Presale Momentum
Mutuum Finance is allowing investors to buy in cheap while the project is still in its early stage. It is currently priced at $0.035, but will go higher to $0.04 in an upcoming phase 7 of token sale. There is also a very high interest in investment and the amount of funds raised has surpassed $15.45 million and the number of individuals holding tokens has surpassed over 16,100. This makes MUTM one of the most qualified within the market of DeFi.
$50,000 Bug Bounty Program
As the presale progresses, MUTM has launched a new initiative where, users of the project can share in a $50,000 USDT pool for identifying bugs within the platform. The $50k reward will cover four different weak areas. These include: critical, major, minor, and low. The initiative is already live and anyone can participate.
Dual-Lending, Bending
The dual-lending frame of the project is a hybrid of the Peer-to-Contract (P2C) and Peer-to-Peer (P2P) model. Since P2C is actively studying the market environment to pay interest, one can borrow at a reasonable rate and guarantee that the investors can be paid interest through smart contracts. P2P offers direct lending and borrowing without an intermediary and is highly decentralized, a feature particularly useful to risky assets such as meme coins.
Infrastructure and Price Discovery
The project relies on Chainlink to obtain the correct price in the market and ties it to the price of USD and tokens such as ETH, MATIC, and AVAX.
Other tools such as fallback oracles, aggregated feeds and in-chain metrics can assist in offering reliable and timely prices to manage collateral and undertake liquidations.
Mutuum Finance (MUTM) has grown into a key player this cycle. Expert analysis show DOGE could soon slip below $0.20 as bears take control. Buying MUTM today means getting into the project at the lowest price it will ever be, while waiting until the next phase, means buying in over 14% higher. The project has already collected more than $15.45M and received 16,100+ investors, which indicates a good movement. MUTM is utility-oriented with a $100K giveaway, a $50K CertiK bug bounty, and powerful oracle-driven price discovery. Stage 6 price is currently lower than it will be after the additional presale.
For more information about Mutuum Finance (MUTM) visit the links below:
Website: https://mutuum.com/
Linktree: https://linktr.ee/mutuumfinance
Source: https://www.cryptopolitan.com/why-is-dogecoin-down-today-doge-hovers-around-0-21-as-smart-investors-choose-this-under-0-035-defi-crypto/
