The Dogecoin Price Surge and Consolidation

狗狗幣價格飆升和整合

The Dogecoin price rebounded significantly during the recent trading session. This prevented the token from breaching crucial support levels, signaling the resilience of the bulls. However, currently, the market is experiencing bearish pressures that may drive prices lower, creating a favorable entry point for buyers.

狗狗幣價格在最近的交易時段大幅反彈。這阻止了代幣突破關鍵支撐位，並表明多頭的韌性。然而，目前市場正面臨看跌壓力，可能導致價格下跌，為買家創造有利的切入點。

Over the past days, whales have accumulated over 150 million DOGE. Additionally, large transactions ranging from $100K to $1M have increased, indicating that whales continue to buy at low prices around $0.4. Despite equal pressure from buyers and sellers, bears are attempting to push the token lower.

在過去的幾天裡，鯨魚已經累積了超過 1.5 億個 DOGE。此外，從 10 萬美元到 100 萬美元的大額交易有所增加，表明鯨魚繼續以 0.4 美元左右的低價購買。儘管買家和賣家面臨同樣的壓力，空頭仍試圖壓低代幣價格。

Technical Analysis

技術分析

The Bollinger bands have expanded and contracted due to fluctuations in volume. Currently, the bands are parallel, suggesting low volatility. The price, confined within a symmetrical triangle, is expected to consolidate within a narrow range, indicating a sideways trend with minimal price movement.

布林通道因交易量波動而擴大和收縮。目前，兩條帶是平行的，表示波動性較低。價格被限制在對稱三角形內，預計將在窄幅區間內盤整，顯示價格波動最小的橫盤趨勢。

The RSI is descending, forming lower highs and lows, supporting the downward consolidation. The DOGE price is likely to remain consolidated within the pennant for the next 10 days until it reaches the apex of the pattern.

RSI 正在下降，形成較低的高點和低點，支撐下行盤整。在接下來的 10 天內，DOGE 價格可能會在三角旗內保持盤整，直到達到該形態的頂點。

Market Sentiment and Outlook

市場情緒與展望

Market participants have shifted their focus towards Bitcoin and Ethereum. Once they secure profits, liquidity could return to altcoins. Therefore, the Dogecoin price target of $0.55 to $0.6 remains feasible and could be reached before the end of 2024.

市場參與者已將注意力轉向比特幣和以太坊。一旦他們獲得利潤，流動性可能會回歸山寨幣。因此，狗狗幣 0.55 至 0.6 美元的價格目標仍然可行，並可能在 2024 年底前達到。