• Since Elon Musk’s public declaration, DOGE has gone up and down.

Elon Musk의 공개 선언 이후 DOGE는 오르락내리락했습니다.

• Dogecoin’s Open Interest jumped and other indicators suggest a recovery.

On its 10th anniversary of existence, Dogecoin [DOGE]  gave holders of the meme something to celebrate. The coin did this by running upwards and reaching $0.1 on the 6th of December. This was the second time throughout 2023 that DOGE tapped that level.

Dogecoin [DOGE]은 창립 10주년을 맞아 밈 보유자에게 축하할 일을 선사했습니다. 코인은 12월 6일에 상승하여 0.1달러에 도달함으로써 이를 실현했습니다. DOGE가 해당 수준을 달성한 것은 2023년에 두 번째였습니다.

The first time it did was on the 4th of April. But at that time, hitting the milestone was only momentary as the price pulled back in a matter of minutes.

However, this season was a little different as DOGE held on to the price before its recent retracement to $0.098 at press time. 

Dogecoin’s uptick did not happen without other memes following in a similar direction. The likes of Pepe [PEPE], and Floki [FLOKI] also had their respective increases. But unlike these cryptocurrencies mentioned, Dogecoin has come a long way.

Dogecoin의 상승은 비슷한 방향을 따르는 다른 밈 없이는 일어나지 않았습니다. Pepe [PEPE], Floki [FLOKI] 등도 각각 증가세를 보였습니다. 그러나 언급된 암호화폐와는 달리 Dogecoin은 먼 길을 걸어왔습니다.

DOGE  is a “crypto of the people”

Dogecoin was introduced as an open-source cryptocurrency in 2013 by Billy Markus and Jackson Palmer. During that period, Palmer was a software engineer at Adobe, and Markus had the same role at IBM.

Markus and Palmer ideated and launched Dogecoin in December as a “joke” version of Bitcoin [BTC]. This was one of the reasons it used a Shiba Inu dog as its logo.

Markus와 Palmer는 12월에 Bitcoin[BTC]의 "농담" 버전으로 Dogecoin을 구상하고 출시했습니다. 이것이 시바견을 로고로 사용한 이유 중 하나였습니다.

Furthermore, the founders of the cryptocurrency did not expect the coin to gain quick acceptance.

더욱이, 암호화폐의 창시자들은 코인이 빠르게 받아들여질 것이라고 기대하지 않았습니다.

But two weeks after its launch, DOGE gained popularity on social media platform Reddit, and at one point had more transactions than Bitcoin in its early stages. In 2014, Markus and Palmer left Dogecoin’s development to the community.

After that, not much happened with Dogecoin. But in 2019, Tesla CEO Elon Musk endorsed the cryptocurrency. He also revealed that he had been supporting Dogecoin developers behind closed doors before his disclosure. 

그 이후에는 Dogecoin에서는 별다른 일이 일어나지 않았습니다. 그러나 2019년 Tesla CEO Elon Musk는 암호화폐를 승인했습니다. 그는 또한 공개되기 전에 비공개로 Dogecoin 개발자를 지원해 왔다고 밝혔습니다.

In April 2019, Musk posted about the meme on X (formerly Twitter) citing his support for DOGE. Then, in February 2021, the SpaceX head called DOGE the “people’s crypto.”

2019년 4월 머스크는 DOGE에 대한 지지를 언급하며 X(이전 트위터)에 밈에 대한 글을 게시했습니다. 그러다가 2021년 2월 SpaceX 대표는 DOGE를 "인민의 암호화폐"라고 불렀습니다.

Dogecoin is the people’s crypto

Dogecoin은 사람들의 암호화폐입니다

— Elon Musk (@elonmusk) February 4, 2021

Posts like this were part of why the coin was one of the outstanding performers of the 2021 bull market. 

Source: CoinMarketCap

출처: 코인마켓캡

While Musk was accused of manipulating the cryptocurrency to his favor, the richest man in the world did not stop promoting the coin. In fact, before the appointment of a new X CEO, Mush hinted that his replacement would be a Dogecoin lover.

머스크는 자신에게 유리한 방향으로 암호화폐를 조작했다는 비난을 받았지만, 세계 최고 부자는 암호화폐 홍보를 멈추지 않았습니다. 실제로 Mush는 새로운 X CEO를 임명하기 전에 그의 후임자가 Dogecoin 애호가가 될 것이라고 암시했습니다.

Down but not out

다운됐지만 아웃되지는 ​​않았어

AMBCrypto also reported on how Musk changed the former Twitter logo to DOGE before the company rebranded to X. Per its All-Time Performance, Dogecoin’s value has increased by 17,365.63%, according to CoinMarketCap data.

However, the coin is 91.42% down from its $0.73 ATH. Despite the drawdown from the heights, the number of DOGE holders has been growing. At press time, there were 5.45 million holders of the coins.

그러나 이 코인은 $0.73 ATH보다 91.42% 하락했습니다. 높이가 낮아졌음에도 불구하고 DOGE 보유자의 수는 증가하고 있습니다. 보도 당시 코인 보유자는 545만 명이었습니다.

As of the 7th of June, the total number was 5 million, meaning that an additional 450,000 had joined the Dogecoin clan within six months. Concerning its funding rate, AMBCrypto checked the data provided by crypto analysis tool Santiment.

According to the information assessed, Dogecoin’s funding rate was 0.023%. This reading implies that most traders are bullish on the coin price. If the funding rate was negative, then it would have suggested otherwise. 

평가된 정보에 따르면 Dogecoin의 펀딩 비율은 0.023%였습니다. 이 수치는 대부분의 거래자가 코인 가격에 대해 낙관적이라는 것을 의미합니다. 자금 조달 비율이 음수라면 다르게 제안되었을 것입니다.

Source: Santiment

출처: 상티멘트

From a technical perspective, Dogecoin’s buying volume on the 6th of December was immense. This spike indicated by the sharp green bar implies that the community seemed determined to have a good celebration of the coin’s birthday.

기술적 관점에서 볼 때 12월 6일 Dogecoin의 구매량은 엄청났습니다. 날카로운 녹색 막대로 표시된 이 스파이크는 커뮤니티가 코인의 생일을 잘 축하하기로 결정한 것 같다는 것을 의미합니다.

Recovery is an option either way

However, there seems to have been some profit-taking as DOGE moved down to $0.0967. This assertion was also reinforced by the Accumulation/Distribution (A/D) indicator which had reduced to 27.10 billion. 

그러나 DOGE가 $0.0967로 하락하면서 약간의 차익 실현이 있었던 것으로 보입니다. 이러한 주장은 A/D(매집/분배) 지표가 271억으로 감소함에 따라 더욱 강화되었습니다.

The decrease in the A/D reading suggests that there has been a surge in distribution since accumulation hit a peak. Should the distribution continue, DOGE might drop below $0.0949 which was a support that triggered the rise to $0.01.

Also, DOGE would only remain above $0.09 if bulls defended other support at $0.0877. However, the Moving Average Convergence Divergence (MACD) showed that the buying momentum may return soon. 

또한 황소가 $0.0877의 다른 지지를 방어하는 경우 DOGE는 $0.09 이상으로만 유지됩니다. 하지만 이동평균수렴발산(MACD)을 보면 매수 모멘텀이 곧 돌아올 수 있다는 점을 알 수 있었습니다.

Source: TradingView

But that will be the case if the MACD reading pumps above the zero midpoint and sellers do not flip the 26-day EMA (orange) over the 12-day EMA (blue). 

Another indicator to look at is the Open Interest. The Open Interest is the number of futures contracts left open by traders. It is also a sign of liquidity allocated that could impact the price action of a cryptocurrency.

Read Dogecoin’s [DOGE] Price Prediction 2024-2025

Dogecoin의 [DOGE] 가격 예측 2024-2025 읽기

As of this writing, DOGE’s Open Interest had increased to $628.39 million, according to Coinglass. Alongside the downward trend, the Open Interest is a sign of strength for the coin’s momentum.

If by chance the Open Interest stays high and DOGE’s movement reverses northward, then the coin may reclaim $0.01.

우연히 미결제약정이 높게 유지되고 DOGE의 움직임이 북쪽으로 반전되면 코인은 $0.01를 회수할 수 있습니다.

Source: Coinglass

The post Dogecoin turns 10 – the meme celebrates by briefly touching $0.1 appeared first on AMBCrypto.

Dogecoin이 10주년이 되는 게시물 – 0.1달러를 잠깐 터치하여 축하하는 밈이 AMBCrypto에 처음 등장했습니다.