Dogecoin's (DOGE) ongoing price action mirrors 2020 fractals that saw its price explode by more than 15,800% to a record high of $0.76 in just six months.

狗狗幣 (DOGE) 持續的價格走勢反映了 2020 年的分形，其價格在短短六個月內飆升了 15,800% 以上，達到 0.76 美元的歷史新高。

Dogecoin price trend in 2024 vs. 2021

2024 年與 2021 年狗狗幣價格趨勢

The Dogecoin chart fractal below highlights the similarities between DOGE's ongoing price performance and those recording after the completion of the 2018-2020 bear market.

下面的狗狗幣圖表分形突顯了狗狗幣當前價格表現與 2018-2020 年熊市結束後記錄的價格表現之間的相似之處。

For instance, in 2018-2020, Dogecoin experienced a prolonged sideways movement within the $0.0012 to $0.0056 range. This phase occurred at the chart’s base levels, between the 0.236 and 0.0 Fibonacci retracement lines, underlining a period of relative market equilibrium with low volatility.

例如，在 2018 年至 2020 年，狗狗幣經歷了 0.0012 美元至 0.0056 美元範圍內的長期橫向波動。這一階段發生在圖表的基本水平，即 0.236 和 0.0 斐波那契回撤線之間，強調了波動性較低的相對市場平衡時期。

Mirroring the earlier consolidation pattern, Dogecoin has — once again — entered a consolidation phase, but at a higher price range between $0.055 and $0.181. Interestingly, these new bounds also align with the 0.236 and 0.0 Fib retracement levels, respectively.

與早期的盤整模式相呼應，狗狗幣再次進入盤整階段，但價格範圍較高，介於 0.055 美元和 0.181 美元之間。有趣的是，這些新界限也分別與 0.236 和 0.0 Fib 回撤水準一致。

The current attempt to surpass the 0.236 Fibonacci threshold is akin to the breakout observed in the previous cycle, which may indicate a significant shift in market sentiment if the price sustains above this level, currently at $0.181.

目前試圖超越 0.236 斐波那契閾值的嘗試類似於上一個週期中觀察到的突破，如果價格維持在該水平（目前為 0.181 美元）之上，這可能表明市場情緒發生重大轉變。

Dogecoin fundamentals 2020 vs. 2024

2020 年與 2024 年狗狗幣基本面對比

Fundamentals such as quantitative easing played a key role in sending Dogecoin prices up by more than 15,800% in 2020. Interestingly, the memecoin market is witnessing similar catalysts in 2024 as it attempts to break above its 0.236 Fib line resistance.

量化寬鬆等基本面因素在推動狗狗幣價格在2020 年上漲超過15,800% 方面發揮了關鍵作用。有趣的是，memecoin 市場在2024 年試圖突破0.236 斐波那契線阻力位時也見證了類似的催化劑。

Rate cuts potential in 2024

2024 年降息潛力

In 2020, Dogecoin's price surged past its 0.236 Fibonacci level, partly fueled by increased cash liquidity resulting from the U.S. Federal Reserve's policy of lowering interest rates.

2020 年，狗狗幣的價格飆升至 0.236 斐波那契水平以上，部分原因是聯準會降息政策導致現金流動性增加。

Likewise, Dogecoin's current efforts to breach the 0.236 Fibonacci threshold coincide with the anticipation of three potential interest rate cuts in 2024.

同樣，狗狗幣目前突破 0.236 斐波那契閾值的努力與 2024 年可能三次降息的預期不謀而合。

Altcoin boom after Bitcoin halving

比特幣減半後山寨幣繁榮

Dogecoin’s 2024 price trends draw further similarities from the 2020 fractal due to the occurrence of Bitcoin halving, events that halve the reward for mining new blocks.

由於比特幣減半的發生，狗狗幣 2024 年的價格趨勢與 2020 年的分形更加相似，這使開採新區塊的獎勵減半。

Remarkably, following Bitcoin's third halving on July 11, 2020, Dogecoin's price surged by an astonishing 34,300%.

值得注意的是，在 2020 年 7 月 11 日比特幣第三次減半之後，狗狗幣的價格驚人地飆升了 34,300%。

Similarly, after Bitcoin's second halving, Dogecoin experienced a rally of over 6,350%, showcasing its potential for delivering high returns to investors seeking opportunities in alternative cryptocurrencies after halvings.

同樣，在比特幣第二次減半後，狗狗幣的漲幅超過 6,350%，展示了其為在減半後尋求替代加密貨幣機會的投資者帶來高回報的潛力。

Related: Bitcoin halving hype: How retail investors can prepare

相關：比特幣減半炒作：散戶投資者如何做好準備

Bitcoin’s fourth halving will happen around April 19-20, following which Dogecoin’s price may explode if the history is any indication.

比特幣的第四次減半將於 4 月 19 日至 20 日左右發生，如果歷史有任何跡象的話，狗狗幣的價格可能會爆炸。

The return of Elon Musk

馬斯克回歸

Elon Musk's active and public support of Dogecoin during 2020 and 2021 played a crucial role in its dramatic price increases while elevating its ranking among the top cryptocurrencies. Now, in 2024, the billionaire entrepreneur is eyeing a move toward integrating DOGE into mainstream platforms.

馬斯克 (Elon Musk) 在 2020 年和 2021 年期間對狗狗幣的積極公開支持對其價格的大幅上漲發揮了至關重要的作用，同時提升了其在頂級加密貨幣中的排名。現在，到 2024 年，這位億萬富翁企業家正在考慮將 DOGE 整合到主流平台中。

For instance, on March 14, Musk said his electric vehicle company, Tesla, could add DOGE payments for purchasing cars at some point in the future.

例如，3 月 14 日，馬斯克表示，他的電動車公司特斯拉可能會在未來某個時候為購買汽車添加 DOGE 付款。

Furthermore, Musk’s “everything app” X (previously known as Twitter) established an XPayments account for its forthcoming payment functionality. There’s a growing expectation that the X app will roll out in-app payment capabilities by mid-2024, which may include cryptocurrencies like Dogecoin.

此外，馬斯克的「一切應用程式」X（以前稱為 Twitter）為其即將推出的支付功能建立了一個 XPayments 帳戶。人們越來越期望 X 應用程式將在 2024 年中期推出應用程式內支付功能，其中可能包括狗狗幣等加密貨幣。

Dogecoin technical analysis

狗狗幣技術分析

Technically, Dogecoin’s weekly relative strength index (RSI) has crossed above 70, an overbought zone, which raises its potential to enter a correction or consolidation phase in April.

從技術上講，狗狗幣的每週相對強弱指數（RSI）已突破 70，進入超買區域，這增加了其在 4 月進入修正或盤整階段的可能性。

Nonetheless, a clear breakout above the 0.236 Fib resistance could send DOGE's price toward the 0.382 Fib line at around $0.26 by April's end. That is up approximately 35% from current price levels.  

儘管如此，明確突破 0.236 Fib 阻力位可能會使 DOGE 的價格在 4 月底前升至 0.382 Fib 線，約為 0.26 美元。這比目前的價格水準上漲了約 35%。

Conversely, a decisive pullback from the 0.236 Fib line risks bringing Dogecoin's price toward its 50-week exponential moving average (50-week EMA; the red wave) at around $0.095, down about 48% from current prices.

相反，從 0.236 Fib 線果斷回檔可能會使狗狗幣的價格接近 0.095 美元左右的 50 週指數移動平均線（50 週 EMA；紅色波浪），比當前價格下跌約 48%。

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

本文不包含投資建議或建議。每一項投資和交易行為都涉及風險，讀者在做決定時應自行研究。