Dogecoin gains 10% – A short squeeze toward $0.10 possible IF…

Investor speculation appears to be picking up despite the ongoing risk-off environment. October has seen little capital inflows into memecoins, with the sector’s total market cap dropping from its late September high of $37 billion to just over $26 billion. This comes alongside more than $300 billion in net outflows from the broader crypto market over the same period. So, technically, the memecoin sector’s market cap decline accounts for over 3% of total crypto outflows so far this month. Meanwhile, the biggest memecoin, Dogecoin also had a correction above 18% over the same period. This shows that there’s really no speculative momentum in this market this month. Investors are cutting their exposure during risk-off cycles rather than rotating into memecoins for quick, short-term gains.

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