• Dogecoin witnessed massive uptick in price after Coinbase’s recent announcement.
• Social volume around the token grew, however, sentiment declined.

Since the beginning of March, Dogecoin [DOGE] has witnessed a surge in volatility and has gone through massive corrections. However, recent developments have given Dogecoin bulls some hope.

Coinbase 最近宣布消息後，狗狗幣價格大幅上漲。圍繞該代幣的社交量有所增長，但情緒卻有所下降。自3 月初以來，狗狗幣[DOGE] 見證了波動性激增，並經歷了大規模調整。然而，最近的事態發展為狗狗幣多頭帶來了一些希望。

High hopes

Coinbase recently revealed its intention to introduce a futures trading service for Dogecoin. This move allows individuals to safeguard against potential fluctuations in the future value of an asset through smart contracts.

寄予厚望的Coinbase 最近透露其打算推出狗狗幣期貨交易服務。此舉允許個人透過智能合約防範資產未來價值的潛在波動。

The contracts ensure that the buying and selling of assets occur at predetermined prices on specified dates.

這些合約確保資產的買賣在指定日期以預定價格進行。

To proceed with this initiative, Coinbase has communicated its plans to the US Commodity Futures Trading Commission (CFTC) via written correspondence.

為了推進這項舉措，Coinbase 已透過書面信函向美國商品期貨交易委員會 (CFTC) 傳達了其計劃。

In these letters, the exchange outlines its strategy for launching futures contract products featuring a cash-settlement mechanism.

在這些信件中，該交易所概述了推出具有現金結算機制的期貨合約產品的策略。

Coinbase emphasized to the CFTC its strong interest in DOGE, pointing out that the ongoing popularity of Dogecoin and the enthusiastic backing from its community indicate that it has progressed from its meme origins to become a significant aspect of the cryptocurrency ecosystem.

Coinbase 向 CFTC 強調了其對 DOGE 的濃厚興趣，並指出狗狗幣的持續受歡迎及其社群的熱情支持表明它已經從迷因起源發展成為加密貨幣生態系統的重要組成部分。

Due to this, the price of DOGE surged by 15.79% in the last 24 hours. If the momentum around this rally continues to grow, the price of DOGE may test the $0.1930 level and could possibly retest the the $0.200 level as well.

受此影響，DOGE的價格在過去24小時飆升了15.79%。如果圍繞著這次反彈的勢頭繼續增強，DOGE 的價格可能會測試 0.1930 美元的水平，並可能重新測試 0.200 美元的水平。

If DOGE’s price weakens the $0.200 level, a case could be made for another significant rally, with DOGE prices soaring to heights not seen since 2021.

如果 DOGE 的價格跌破 0.200 美元的水平，則可能會再次大幅上漲，DOGE 價格將飆升至 2021 年以來的最高水平。

Moreover, the Chaikin Money Flow (CMF) indicator for DOGE stood at 0.17. A CMF value of 0.17 for Dogecoin suggests that buying pressure has been relatively strong compared to selling pressure recently.

此外，DOGE 的 Chaikin 資金流向（CMF）指標為 0.17。狗狗幣的 CMF 值為 0.17，顯示近期的買壓相對於賣壓而言相對較強。

This could indicate bullish sentiment among traders and investors.

這可能表明交易者和投資者的看漲情緒。

Source: Trading View

來源：交易觀點

Trouble on the social front

Along with the surge in price, the total number of DOGE traders had also grown indicating that the surge in price could be attributed to new addresses accumulating DOGE.

社會方面的麻煩隨著價格的飆升，DOGE交易者的總數也隨之增加，這表明價格的飆升可能歸因於新地址累積的DOGE。

Moreover, the social volume around DOGE also spiked, implying that the conversations occurring around DOGE on social media platforms had grown.

此外，圍繞 DOGE 的社交量也激增，這意味著社交媒體平台上圍繞 DOGE 的對話有所增加。

Despite the heightened activity on social media platforms and Coinbase’s nod of approval, the weighted sentiment around DOGE remained negative.

儘管社群媒體平台上的活動有所增加，並且 Coinbase 也表示認可，但圍繞 DOGE 的情緒仍然消極。

This meant that the number of negative comments around DOGE had outnumbered the positive ones. The uptick in negative sentiment around DOGE could hinder DOGE’s positive price movement.

這意味著圍繞 DOGE 的負面評論數量超過了正面評論。圍繞 DOGE 的負面情緒上升可能會阻礙 DOGE 的正面價格走勢。

Source: Santiment

資料來源：Santiment

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