You can also read this news on BH NEWS: Bitcoin's Fall Impacts DOGE and Altcoins

您也可以在 BH NEWS 上閱讀此新聞：比特幣的下跌影響 DOGE 和山寨幣

The recent volatility in Bitcoin's price has instigated a downward trend for Dogecoin (DOGE) and various other altcoins. As Bitcoin attempts to stabilize around $66,000, the altcoin market has exhibited signs of instability. At the time of writing, Bitcoin was priced at $66,228, prompting an upward reversal for some altcoins. This analysis delves into the Dogecoin projections.

最近比特幣價格的波動引發了狗狗幣（DOGE）和其他各種山寨幣的下跌趨勢。隨著比特幣試圖穩定在 66,000 美元左右，山寨幣市場已經表現出不穩定的跡象。截至撰寫本文時，比特幣價格為 66,228 美元，促使一些山寨幣出現上漲趨勢。該分析深入研究了狗狗幣的預測。

Dogecoin's Challenges
On June 17, Dogecoin, the top meme coin by market capitalization, experienced a three-month low, reaching $0.12. This decline was triggered by substantial losses in Bitcoin's price. Given the limited investment in altcoins, the swift exit of cautious investors exacerbated these losses, leading to a rapid sell-off.

狗狗幣面臨的挑戰 6 月 17 日，市值最高的迷因幣狗狗幣遭遇三個月低點，跌至 0.12 美元。此次下跌是由比特幣價格大幅下跌引發的。鑑於對山寨幣的投資有限，謹慎投資者的迅速退出加劇了這些損失，導致快速拋售。

The sharp decline resulted in the liquidation of long positions exceeding $44 million in Dogecoin alone, the largest liquidation event for DOGE this year. This significant liquidation reflects an unexpected drop experienced by investors in futures markets, weakening bullish sentiment. Currently, DOGE futures market funding remains negative, indicating the dominance of short positions.

這次大幅下跌導致光是狗狗幣多頭部位被清算就超過4,400萬美元，這是DOGE今年最大的清算事件。此次大幅清算反映了期貨市場投資者的意外下跌，削弱了看漲情緒。目前，DOGE期貨市場資金面仍為負數，顯示空頭部位佔主導地位。

Future Price Movements
Dogecoin's price has breached below both the 20-day EMA and the 50-day SMA, losing crucial support levels. The price falling under the SMA50 confirms substantial selling pressure, a rare occurrence considering the overall upward market trend. Seasoned investors may perceive these losses as buying opportunities, yet they remain vigilant about potential further declines based on historical data.

未來價格走勢狗狗幣的價格已突破 20 日均線和 50 日均線，失去了關鍵的支撐位。價格跌破 50 移動平均線證實了巨大的拋售壓力，考慮到整體向上的市場趨勢，這種情況很少見。經驗豐富的投資者可能會將這些損失視為買入機會，但他們仍然根據歷史數據對潛在的進一步下跌保持警惕。

The Elder-Ray Index for DOGE suggests the likelihood of continued short-term bearish trends. The index's negative value confirms that sellers currently control the market. If bearish momentum persists, DOGE's price could potentially fall to $0.11 and even reach $0.08.

DOGE 的 Elder-Ray 指數顯示短期看跌趨勢可能持續。該指數的負值證實賣家目前控制市場。如果看跌勢頭持續下去，DOGE 的價格可能會跌至 0.11 美元，甚至達到 0.08 美元。

Insights for Investors
Essential points for investors to contemplate based on current market trends:

投資人見解根據當前市場趨勢，投資人需要思考的要點：

• Monitor Bitcoin's ability to close above $66,250, as it could bolster altcoin confidence.
• Observe signs of increased investor activity in altcoins following significant sell-offs.
• Track DOGE's price movements around key support levels, particularly $0.11 and $0.08.
• Utilize the Elder-Ray Index to assess short-term trend indications.

However, if Bitcoin closes above $66,250 and strengthens the altcoin market, increased investor confidence might lead to a recovery. This scenario could propel DOGE's price toward new highs between $0.13 and $0.18.
The post initially appeared on BH NEWS:

監控比特幣收在66,250 美元上方的能力，因為它可以增強山寨幣信心。利用Elder-Ray 指數評估短期趨勢指標。這種情況可能會推動 DOGE 的價格升至 0.13 美元至 0.18 美元之間的新高。