Dogecoin (DOGE) has solidified its position as the eighth-largest cryptocurrency by market capitalization, leaving industry observers amused and sparking humor from Cardano’s founder, Charles Hoskinson. The memecoin experienced a substantial upswing, propelling its market cap to approximately $28 billion, surpassing Cardano’s $27 billion valuation.

狗狗幣（DOGE）鞏固了其作為市值第八大加密貨幣的地位，這讓行業觀察家感到好笑，並引發了卡爾達諾創始人查爾斯·霍斯金森的幽默。 Memecoin 經歷了大幅上漲，使其市值達到約 280 億美元，超過了卡爾達諾 270 億美元的估值。

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DOGE Market Dynamics And Technical Indicators

DOGE市場動態與技術指標

At the time of writing, Dogecoin was trading at $0.16, reflecting a remarkable 103% surge in the past seven days. This increase catapulted DOGE ahead of major cryptocurrencies like AVAX, DOT and TRON. Despite this positive momentum, technical indicators suggest a nuanced situation.

截至撰寫本文時，狗狗幣的交易價格為 0.16 美元，在過去 7 天內飆升了 103%。這一增長使 DOGE 領先於 AVAX、DOT 和 TRON 等主要加密貨幣。儘管存在這種積極勢頭，但技術指標顯示情況存在微妙之處。

Source: Coinmarketcap

資料來源：Coinmarketcap

The Relative Strength Index (RSI) for Dogecoin stands at slightly above 67, signaling an overbought condition. While the price is on an upward trajectory, there is a possibility of susceptibility to a corrective phase. Meanwhile, the Chaikin Money Flow (CMF) at nearly 0.20 presents a mixed picture. A positive CMF indicates strong buying pressure, but an upward trend may also signify potential profit-taking, hinting at a possible sell-off.

狗狗幣的相對強弱指數 (RSI) 略高於 67，顯示處於超買狀態。雖然價格處於上升軌道，但有可能進入修正階段。同時，柴金資金流量 (CMF) 接近 0.20，情況好壞參半。 CMF 為正表明買盤壓力強勁，但上升趨勢也可能意味著潛在的獲利了結，暗示可能出現拋售。

Sentiment And Social Activity

情緒和社交活動

Social dynamics appear to play a pivotal role in Dogecoin’s recent surge. The social volume, often linked with price movements, witnessed an uptick, indicating a positive correlation between growing interest and discussions around Dogecoin and its upward momentum.

社會動態似乎在狗狗幣最近的飆升中發揮了關鍵作用。通常與價格走勢相關的社交量出現上升，表明圍繞狗狗幣的興趣增長和討論與其上漲勢頭之間存在正相關關係。

Weighted sentiment, a crucial metric reflecting community sentiment, has shown an increase, with positive comments outweighing negative ones. This surge in positive sentiment adds fuel to DOGE’s positive momentum in the market.

加權情緒是反映社區情緒的關鍵指標，已顯示出成長，正面評論超過負面評論。這種積極情緒的激增為 DOGE 在市場上的積極勢頭增添了動力。

DOGE market cap currently at $23.7 billion. Chart: TradingView.com

Holder Metrics, Cautionary Signs

持有者指標、警示標誌

Despite the positive indicators, cautionary signs emerge as the rise in the percentage of short positions against DOGE reveals a cautious sentiment among traders. The increase in short positions suggests a bearish outlook, prompting investors to be mindful of potential impacts on the coin’s prices,

儘管有積極的指標，但隨著針對 DOGE 的空頭部位比例的上升，顯示出交易者的謹慎情緒，警告訊號也出現了。空頭部位的增加顯示前景看跌，促使投資者註意對代幣價格的潛在影響，

Source: Santiment

資料來源：Santiment

Industry Observations

產業觀察

The overtaking of Cardano by Dogecoin in market capitalization has drawn attention from industry observers, including Hoskinson. In a light-hearted manner, he declared the beginning of what many are calling “alt-season.” This observation adds a layer of industry perspective to the ongoing developments in the cryptocurrency market.

狗狗幣對卡爾達諾的市值超越引起了包括霍斯金森在內的行業觀察家的關注。他以一種輕鬆的方式宣布了許多人所說的“另類季節”的開始。這項觀察為加密貨幣市場的持續發展增添了一層產業視角。

That moment Doge flips Cardano. It’s officially alt-season kids pic.twitter.com/cjNGNGKoi3

那一刻，多吉翻轉了卡爾達諾。這是正式的替代季節孩子 pic.twitter.com/cjNGNGKoi3

— Charles Hoskinson (@IOHK_Charles) March 5, 2024

— 查爾斯·霍斯金森 (@IOHK_Charles) 2024 年 3 月 5 日

Dogecoin’s recent surge to become the eighth-largest cryptocurrency brings a mix of excitement and caution. While positive sentiment, social activity, and industry observations contribute to its momentum, technical indicators and cautionary signs suggest a need for prudence.

狗狗幣最近飆升為第八大加密貨幣，讓人既興奮又謹慎。雖然積極情緒、社會活動和行業觀察有助於其勢頭，但技術指標和警示信號表明需要謹慎行事。

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Featured image from Freepik, chart from TradingView

精選圖片來自 Freepik，圖表來自 TradingView

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