Dogecoin [DOGE] was forced to halt its uptrend after Bitcoin’s [BTC] prices toppled below the $70k level. This event also caused bullish conviction to evaporate across the market, at least in the short term.

在比特幣 [BTC] 價格跌破 7 萬美元水平後，狗狗幣 [DOGE] 被迫停止上漲趨勢。這起事件也導致整個市場的看漲信念消失，至少在短期內是如此。

The trading volume has dropped after the first week of March, indicating reduced fervor behind the meme coin. Technical analysis showed that DOGE could drop toward the $0.1 mark this week.

3 月第一週後，交易量有所下降，顯示人們對 meme 幣的熱情有所下降。技術分析顯示，DOGE 本周可能跌向 0.1 美元大關。

Yet, its long-term trajectory was bullish. Ali, a popular crypto analyst, posted on X (formerly Twitter) that the recent rally was indicative of a move to $1.

然而，其長期軌跡是看漲的。受歡迎的加密貨幣分析師 Ali 在 X（以前稱為 Twitter）上發文稱，最近的反彈表明價格將升至 1 美元。

Over-dependence on Musk

The advent of Dogecoin was crucial in preparing the ground for the present expansion of the memecoin arena. The cryptocurrency’s popularity truly took off when Tesla CEO Elon Musk started endorsing the coin.

過度依賴馬斯克狗狗幣的出現對於為模因幣領域目前的擴張奠定基礎至關重要。當特斯拉執行長馬斯克開始認可這種加密貨幣時，這種加密貨幣才真正開始流行。

Musk joined the Dogecoin bandwagon in 2019, primarily as a joke. However, over many months, his social media remarks about Dogecoin lent it more and more credibility.

馬斯克於 2019 年加入狗狗幣潮流，主要是為了開玩笑。然而，幾個月來，他在社群媒體上關於狗狗幣的言論使其越來越可信。

His earliest mention of Dogecoin came on X (formerly Twitter) in April 2019, when he called it “my fav cryptocurrency.”

他最早提到狗狗幣是在 2019 年 4 月的 X（以前的 Twitter）上，當時他稱之為「我最喜歡的加密貨幣」。

DOGE increased by more than 70% immediately following Musk’s disclosure. What was intriguing was that this occurred amid the pinnacle of the bear market.

馬斯克披露後，DOGE 立即上漲了 70% 以上。有趣的是，這發生在熊市的頂峰時期。

Since then, the tech mogul has publicly endorsed the memecoin multiple times. He even referred to it as the “people’s crypto” on one occasion, highlighting its widespread use among his company’s blue-collar workers.

從那時起，這位科技大亨多次公開認可迷因幣。他甚至有一次將其稱為“人民的加密貨幣”，強調了它在公司藍領工人中的廣泛使用。

Aside from the brief price increases, the Dogecoin community saw a level of optimism never seen before as a consequence of an endorsement by one of the richest people in the world.

除了短暫的價格上漲之外，由於世界上最富有的人之一的認可，狗狗幣社區出現了前所未有的樂觀情緒。

And when Musk took over Twitter in the autumn of 2022, the excitement reached new heights.

當馬斯克在 2022 年秋天接管 Twitter 時，人們的興奮達到了新的高度。

Elon Musk’s purchase of Twitter marked an iconic moment. As a result of Musk’s announcement, the price of Dogecoin appreciated by more than 100%.

馬斯克 (Elon Musk) 收購 Twitter 標誌著一個標誌性時刻。由於馬斯克的聲明，狗狗幣的價格上漲了 100% 以上。

Since Musk-Twitter’s takeover, there have been speculations about incorporating and integrating Dogecoin with X.

自從馬斯克-Twitter 接管以來，一直有關於將狗狗幣與 X 合併和整合的猜測。

The rumors about DOGE being the official means of crypto payment began to grow. Within a week, the meme coin’s value had more than doubled.

關於 DOGE 成為加密貨幣支付官方手段的傳言開始增加。一周之內，模因幣的價值增加了一倍以上。

However, it’s been months since and Musk has not made any updates on this front yet. Also, this hype didn’t last long.

然而，幾個月過去了，馬斯克還沒有在這方面做出任何更新。而且，這種炒作並沒有持續太久。

Due to its over-dependence on Elon Musk, DOGE has not been able to expand its repertory of successful real-world use cases. This caused the memecoin’s price to lag earlier in the year.

由於過度依賴馬斯克，DOGE 無法擴大其成功的現實用例庫。這導致模因幣的價格在今年早些時候滯後。

A thriving community

Dogecoin was founded in December 2013 as a cryptocurrency based on memes. The introduction of serious digital currencies at the time encouraged the development of this amusing alternative.

蓬勃發展的社區狗狗幣成立於 2013 年 12 月，是一種基於迷因的加密貨幣。當時嚴肅的數位貨幣的引入鼓勵了這種有趣的替代方案的發展。

Jackson Palmer and Billy Markus, two software developers, co-founded the project to create Dogecoin as a more accessible cryptocurrency than Bitcoin.

兩位軟體開發人員傑克遜·帕爾默（Jackson Palmer）和比利·馬庫斯（Billy Markus）共同創立了該項目，旨在將狗狗幣創建為比比特幣更容易使用的加密貨幣。

In addition to its support for clean water efforts and the Jamaican sledge team, the currency quickly gained a following. Despite its amusing origins, Dogecoin developed a particular charm by incorporating charity, community spirit, and internet culture.

除了對清潔水工作和牙買加雪橇隊的支持之外，該貨幣很快就贏得了追隨者。儘管狗狗幣的起源很有趣，但它透過融合慈善、社區精神和網路文化而發展出獨特的魅力。

The reason for Dogecoin’s phenomenal growth is its robust and passionate community. This group is well-known for its wit, inclusivity, and common ambition of mocking the significance of Bitcoin.

狗狗幣驚人增長的原因在於其強大而充滿熱情的社區。這個團體以其智慧、包容性和嘲笑比特幣重要性的共同野心而聞名。

On social media platforms like Reddit and Twitter, fans built a sense of community by sharing memes, providing suggestions, and endorsing charitable organizations. This gesture attracted new members.

在 Reddit 和 Twitter 等社群媒體平台上，粉絲透過分享表情包、提供建議和支持慈善組織來建立社群意識。這一舉動吸引了新成員。

This thriving community contributed to Dogecoin’s continued popularity and global acceptance.

這個蓬勃發展的社區為狗狗幣的持續流行和全球接受做出了貢獻。

Green light for DOGE-1

In November, the National Telecommunications and Information Administration (NTIA) granted crucial regulatory authorization to the DOGE-funded SpaceX Doge-1 Moon Mission.

DOGE-1 獲得批准 11 月，美國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。

A few weeks ago, the Federal Communications Commission authorized the DOGE-1 Moon Mission for launch on the 12th of January 2024. The announcement was made by Doge Norway on X.

幾週前，美國聯邦通訊委員會授權 DOGE-1 月球任務於 2024 年 1 月 12 日發射。該訊息由 Doge Croatia 於 X 日宣布。

He went on to say that the expedition was paid for in DOGE and that it is the first meme crypto in space.

他接著說，這次探險是用 DOGE 支付的，這是太空中的第一個迷因加密貨幣。

The DOGE-1 satellite project was unveiled by the Geometric Energy Corporation, a space technology corporation, in May 2021.

DOGE-1 衛星專案由太空技術公司幾何能源公司於 2021 年 5 月揭曉。

Elon Musk stated that his spacecraft engineering firm will disclose the Dogecoin-themed voyage to the moon in the first quarter of 2022.

伊隆馬斯克表示，他的太空船工程公司將在 2022 年第一季披露以狗狗幣為主題的月球航行。

The mission aims to launch the DOGE-1 satellite into lunar orbit, becoming the first spacecraft entirely sponsored by Dogecoin. The SpaceX Falcon 9 rocket will be used to launch DOGE-1 into space, demonstrating Dogecoin’s foray into cosmic realms.

該任務旨在將 DOGE-1 衛星發射到月球軌道，成為第一個完全由狗狗幣贊助的太空船。 SpaceX 獵鷹 9 號火箭將用於將 DOGE-1 發射到太空，展示狗狗幣進軍宇宙領域的步伐。

Following the (NTIA) clearance, Dogecoin’s value hiked significantly.

在獲得 (NTIA) 批准後，狗狗幣的價值大幅上漲。

Technical analysis of Dogecoin

Source: DOGE/USDT on TradingView

狗狗幣技術分析來源：TradingView 上的 DOGE/USDT

The one-day chart showed that the strong uptrend seen in late February stalled near the $0.2 resistance. Measured from the local swing high at $0.206, DOGE has shed just over 30% in value in less than two weeks.

一日圖顯示，2 月底的強勁上升趨勢在 0.2 美元阻力位附近陷入停滯。從當地波動高點 0.206 美元開始計算，DOGE 的價值在不到兩週的時間內下跌了 30% 以上。

The $0.194 resistance was retested on the 14th of March. Thereafter, DOGE bears forced prices lower by 26% and counting at press time.

3 月 14 日重新測試 0.194 美元阻力位。此後，DOGE 空頭迫使價格下跌 26%（截至發稿時仍在計算）。

The Fibonacci retracement levels showed that a drop to $0.129 or $0.108 was still likely. These were the 61.8% and 78.6% retracement levels, respectively.

斐波那契回撤水準表明仍有可能跌至 0.129 美元或 0.108 美元。這些分別是 61.8% 和 78.6% 的回撤水準。

While the market structure on the daily chart was bullish, the momentum was neutral.

雖然日線圖上的市場結構看漲，但勢頭是中性的。

The RSI showed a reading of 51 to reflect the recent downward pressure. On the other hand, the OBV hardly halted its uptrend. This suggested that despite the large price correction, the selling volume was not high.

RSI 讀數為 51，反映近期的下行壓力。另一方面，OBV 幾乎沒有停止其上升趨勢。這顯示儘管價格大幅調整，但銷售量並不高。

The inference was that DOGE could resume its rally with renewed strength once the market sentiment begins to shift bullishly.

由此推斷，一旦市場情緒開始轉為看漲，DOGE 可能會以新的力量恢復漲勢。

Speculators chose to stay sidelined as the uptrend was interrupted

Source: Santiment

由於上升趨勢中斷，投機者選擇離場觀望來源：Santiment

DOGE’s Open Interest has fallen dramatically in the past few days. On the 14th of March, it reached $489 million. At press time on the 17th of March, it stood at $334 million.

過去幾天，DOGE 的未平倉合約急劇下降。 3 月 14 日，這一數字達到 4.89 億美元。截至 3 月 17 日發稿時，數字為 3.34 億美元。

The decline in OI alongside the prices highlighted bearish sentiment in the short term.

持倉量與價格一起下跌凸顯了短期內的看跌情緒。

The MVRV also took a hit after reaching highs not seen since May 2021. The drop in MVRV showed profit-taking activity, but holders were still at a profit.

MVRV 在達到 2021 年 5 月以來的最高點後也受到打擊。MVRV 的下跌表明了獲利了結活動，但持有者仍然獲利。

The weighted sentiment had been firmly bullish during the rally. Over the past week, it fell toward the neutral territory.

在反彈期間，加權情緒一直堅定看漲。過去一周，它跌向中性區域。

Conclusion

The meme coin category has performed remarkably well over the past month, even after accounting for the recent pullback.

結論即使考慮到最近的回調，迷因幣類別在過去一個月的表現也非常出色。

How much are 1,10,100 DOGEs worth today?

今天 1,10,100 DOGE 值多少錢？

When Bitcoin began to trend upward again, it was likely that the meme coins and DOGE would follow.

當比特幣再次開始上漲時，模因幣和 DOGE 很可能會跟隨。

Therefore, investors could assess the markets more closely to find buying opportunities for Dogecoin or other meme coins over the next few weeks.

因此，投資者可以更仔細地評估市場，以尋找未來幾週購買狗狗幣或其他迷因幣的機會。

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.

免責聲明：所提供的資訊不構成金融、投資、交易或其他類型的建議，僅代表作者的意見。

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