Dogecoin’s upward momentum came to a halt when Bitcoin’s price fell below $70,000. This decline affected market sentiment, causing bullish enthusiasm to diminish, especially in the short term.

當比特幣價格跌破 7 萬美元時，狗狗幣的上漲勢頭就停止了。這種下跌影響了市場情緒，導致看漲熱情減弱，尤其是在短期內。

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Additionally, trading volume for Dogecoin decreased after the first week of March, suggesting a decline in interest and excitement surrounding the meme coin. Technical analysis indicates that Dogecoin’s price may decrease towards the $0.1 mark during the current week.

此外，狗狗幣的交易量在 3 月第一週後有所下降，顯示人們對這種迷因幣的興趣和興奮程度有所下降。技術分析表明，狗狗幣的價格本周可能會跌向 0.1 美元大關。

Dogecoin’s Rise: From Joke to Market Sensation

Since its inception, Dogecoin has played a pivotal role in shaping the meme coin landscape. However, its popularity soared when Tesla CEO Elon Musk began endorsing the coin, initially as a joke. Musk’s social media remarks about Dogecoin gradually lent it credibility, starting with his mention of it as his favorite cryptocurrency in April 2019. This endorsement led to a remarkable 70% surge in DOGE’s price, even during the depths of the bear market.

狗狗幣的崛起：從笑話到市場轟動自誕生以來，狗狗幣在塑造迷因幣格局方面發揮了關鍵作用。然而，當特斯拉執行長馬斯克(Elon Musk)最初只是開玩笑地開始認可這種硬幣時，它的受歡迎程度飆升。馬斯克在社群媒體上關於狗狗幣的言論逐漸增強了狗狗幣的可信度，從他在2019 年4 月提到狗狗幣是他最喜歡的加密貨幣開始。這種認可導致狗狗幣的價格大幅上漲70%，即使在熊市的最深處。

Musk’s continued endorsements, including referring to Dogecoin as the “people’s crypto,” fueled optimism within the Dogecoin community. His influence reached new heights when he took over Twitter in 2022, triggering a surge of over 100% in DOGE’s price. Speculations about integrating Dogecoin with Twitter further boosted its value, with rumors of DOGE becoming the official means of crypto payment. However, Musk’s silence on this front and the fleeting nature of the hype contributed to a downturn in DOGE’s price.

馬斯克的持續支持，包括將狗狗幣稱為“人民的加密貨幣”，激發了狗狗幣社區的樂觀情緒。 2022年他接手Twitter後，他的影響力達到了新的高度，引發DOGE價格飆升超過100%。有關狗狗幣與 Twitter 整合的猜測進一步推高了其價值，有傳言稱狗狗幣將成為加密貨幣支付的官方手段。然而，馬斯克在這方面的沉默以及炒作的短暫性質導致了 DOGE 價格的下跌。

Challenges and Dependency on Musk

Despite its popularity, Dogecoin has struggled to expand its utility beyond Musk’s endorsements. The memecoin’s over-dependence on Musk’s influence has hindered its ability to establish successful real-world use cases. As a result, DOGE’s price has lagged, highlighting the challenges it faces in sustaining long-term growth and relevance.

挑戰和對馬斯克的依賴儘管狗狗幣很受歡迎，但它一直在努力擴大其效用，使其超越馬斯克的認可。迷因幣對馬斯克影響力的過度依賴阻礙了其建立成功的現實世界用例的能力。因此，DOGE 的價格滯後，凸顯了其在維持長期成長和相關性方面所面臨的挑戰。

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Dogecoin: From Meme to Community

Dogecoin emerged in December 2013 as a unique cryptocurrency inspired by memes, offering a lighthearted alternative to more serious digital currencies prevalent at the time. Founded by software developers Jackson Palmer and Billy Markus, the aim was to create a cryptocurrency that was more accessible and approachable than Bitcoin.

狗狗幣：從迷因到社區狗狗幣於 2013 年 12 月出現，是一種受迷因啟發的獨特加密貨幣，為當時流行的更嚴肅的數位貨幣提供了一種輕鬆的替代品。由軟體開發人員傑克遜·帕爾默（Jackson Palmer）和比利·馬庫斯（Billy Markus）創立，目標是創建一種比比特幣更容易訪問和平易近人的加密貨幣。

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Despite its humorous origins, Dogecoin quickly gained traction, thanks in part to its support for charitable causes such as clean water efforts and sponsorship of the Jamaican bobsled team. This blend of humor, charity, and community engagement gave Dogecoin its distinct appeal.

儘管狗狗幣的起源很幽默，但它很快就獲得了關注，這在一定程度上要歸功於它對清潔水工作和牙買加雪橇隊等慈善事業的支持。這種幽默、慈善和社區參與的結合賦予了狗狗幣獨特的吸引力。

Central to Dogecoin’s success is its vibrant and passionate community. Known for their humor, inclusivity, and shared desire to playfully challenge the dominance of Bitcoin, Dogecoin enthusiasts have built a strong online presence on platforms like Reddit and Twitter. Through meme sharing, idea exchange, and support for charitable initiatives, the community has fostered a sense of belonging that continues to attract new members.

狗狗幣成功的核心在於其充滿活力和熱情的社群。狗狗幣愛好者以其幽默、包容性和共同渴望有趣地挑戰比特幣的統治地位而聞名，他們在 Reddit 和 Twitter 等平台上建立了強大的線上影響力。透過迷因分享、想法交流和對慈善活動的支持，社群培養了一種歸屬感，並不斷吸引新成員。

This thriving community has been instrumental in Dogecoin’s sustained popularity and widespread acceptance, contributing to its remarkable growth and enduring influence in the cryptocurrency space.

這個蓬勃發展的社群對於狗狗幣的持續流行和廣泛接受發揮了重要作用，為其在加密貨幣領域的顯著增長和持久影響做出了貢獻。

Dogecoin’s Cosmic Venture: NTIA Clearance Boosts Value

In November, the National Telecommunications and Information Administration (NTIA) granted crucial regulatory authorization to the DOGE-funded SpaceX Doge-1 Moon Mission. This clearance marked a significant milestone for the project, paving the way for its realization.

狗狗幣的宇宙冒險：NTIA 許可提升價值 11 月，國家電信和資訊管理局 (NTIA) 向 DOGE 資助的 SpaceX Doge-1 月球任務授予了重要的監管授權。此次許可標誌著該專案的一個重要里程碑，為其實現鋪平了道路。

A few weeks later, the Federal Communications Commission also gave the green light for the DOGE-1 Moon Mission, scheduling its launch for January 12, 2024. The announcement, made by Doge Norway on social media platform X, highlighted that the mission was financed entirely with DOGE, making it the first meme cryptocurrency to venture into space.

幾週後，美國聯邦通信委員會也為 DOGE-1 月球任務開了綠燈，計劃於 2024 年 1 月 12 日發射。挪威總督在社交媒體平台 X 上發布的這一公告強調，該任務的資金來源完全由DOGE 提供，使其成為第一個進入太空的模因加密貨幣。

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The DOGE-1 satellite project, initiated by the Geometric Energy Corporation in May 2021, gained further attention when Elon Musk’s spacecraft engineering firm expressed involvement in the endeavor. Musk indicated that details of the Dogecoin-themed lunar voyage would be revealed in the first quarter of 2022.

DOGE-1 衛星計畫由幾何能源公司於 2021 年 5 月發起，當馬斯克的太空船工程公司表示參與該計畫後，該計畫獲得了進一步的關注。馬斯克表示，以狗狗幣為主題的月球航行的細節將於 2022 年第一季公佈。

The mission’s primary objective is to deploy the DOGE-1 satellite into lunar orbit, marking the first-ever spacecraft solely sponsored by Dogecoin. Utilizing the SpaceX Falcon 9 rocket for launch, the initiative symbolizes Dogecoin’s exploration of celestial realms. Following the regulatory clearance from the NTIA, Dogecoin experienced a notable increase in value, reflecting investor optimism surrounding its cosmic aspirations.

任務的主要目標是將 DOGE-1 衛星部署到月球軌道，這標誌著有史以來第一艘由狗狗幣完全贊助的太空船。利用 SpaceX 獵鷹 9 號火箭進行發射，這項舉措象徵狗狗幣對天體領域的探索。在獲得 NTIA 監管許可後，狗狗幣的價值顯著上漲，反映出投資者對其宇宙抱負的樂觀態度。

Dogecoin’s Price Analysis: Recent Corrections and Potential Reversal

The one-day chart revealed a notable uptrend in late February, encountering resistance near the $0.2 mark. Since then, Dogecoin (DOGE) has experienced a decline of over 30% from its local swing high at $0.206, occurring within a span of less than two weeks.

狗狗幣的價格分析：近期修正和潛在逆轉單日圖表顯示 2 月底出現顯著的上升趨勢，在 0.2 美元關卡附近遇到阻力。此後，狗狗幣 (DOGE) 在不到兩週的時間內從當地波動高點 0.206 美元下跌了 30% 以上。

Source: DOGE/USDT on TradingView

來源：TradingView 上的 DOGE/USDT

On March 14th, the $0.194 resistance level underwent a retest, following which DOGE witnessed a further decline of 26% at the time of writing, driven by bearish momentum.

3 月 14 日，DOGE 再次測試 0.194 美元阻力位，隨後在看跌勢頭的推動下，DOGE 在撰寫本文時進一步下跌 26%。

Analysis using Fibonacci retracement levels suggested potential price targets of $0.129 or $0.108, representing the 61.8% and 78.6% retracement levels, respectively. Despite the bearish price action, the market structure on the daily chart remained bullish, albeit with neutral momentum.

使用斐波那契回撤水準的分析表明，潛在的目標價為 0.129 美元或 0.108 美元，分別代表 61.8% 和 78.6% 的回撤水準。儘管價格走勢看跌，日線圖上的市場結構仍看漲，儘管勢頭呈中性。

The Relative Strength Index (RSI) indicated a reading of 51, signaling recent downward pressure. However, the On-Balance Volume (OBV) displayed a continuous uptrend, suggesting that the selling volume remained relatively low despite the significant price correction.

相對強弱指數 (RSI) 讀數為 51，表示近期有下行壓力。然而，平衡成交量（OBV）顯示出持續上升趨勢，顯示儘管價格大幅調整，但成交量仍相對較低。

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The implication of these metrics is that DOGE could potentially resume its upward trajectory with renewed vigor once market sentiment begins to shift towards a bullish outlook.

這些指標的含義是，一旦市場情緒開始轉向看漲前景，DOGE 可能會以新的活力恢復其上升軌跡。

Dogecoin’s Open Interest and Sentiment Analysis: Recent Declines

Dogecoin (DOGE) has witnessed a significant decline in Open Interest (OI) over the past few days. On March 14th, OI peaked at $489 million, but as of March 17th, it has dropped to $334 million. This decline in OI, coupled with falling prices, indicates a bearish sentiment prevailing in the short term.

狗狗幣的未平倉合約和情緒分析：最近的下跌過去幾天狗狗幣（DOGE）的未平倉合約（OI）大幅下降。 3 月 14 日，OI 達到高峰 4.89 億美元，但截至 3 月 17 日，已降至 3.34 億美元。持倉量下降，加上價格下跌，顯示短期內普遍存在看跌情緒。

Source: Santiment

來源：Santiment

Moreover, the MVRV (Market Value to Realized Value) indicator experienced a decline after reaching levels not seen since May 2021. While this drop in MVRV suggests profit-taking activity among holders, it’s important to note that holders are still in a profitable position overall.

此外，MVRV（市場價值與已實現價值）指標在達到2021 年5 月以來的最高水平後出現下降。雖然MVRV 的下降表明持有者的獲利了結活動，但值得注意的是，持有者總體上仍處於獲利狀態。

Additionally, the weighted sentiment, which had been predominantly bullish during the rally, has started to trend towards neutral territory over the past week. This shift in sentiment reflects a potential change in market sentiment from bullish to more neutral.

此外，在上漲期間主要看漲的加權情緒在過去一周已開始趨向中性區域。這種情緒的轉變反映出市場情緒可能從看漲轉向中性。

Despite these recent developments, the meme coin category, including Dogecoin, has demonstrated remarkable performance over the past month, even amidst the recent pullback.

儘管最近有這些發展，包括狗狗幣在內的迷因幣類別在過去一個月中表現出了出色的表現，即使在最近的回調中也是如此。

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

重要提示：請注意，本文僅旨在提供信息，不應被視為法律、稅務、投資、財務或任何其他類型的建議。