Dogecoin Suffers Amidst Market Bloodbath

狗狗幣在市場血洗中遭受重創

Following the general market trend, Dogecoin (DOGE) has experienced an 8% decline within the past 24 hours, registering approximately $5 million in liquidations.

跟隨整體市場趨勢，狗狗幣 (DOGE) 在過去 24 小時內下跌 8%，清算金額約 500 萬美元。

Despite this downturn, an analyst predicts DOGE may rally to $1 based on the Elliott Wave theory.

儘管經濟低迷，但分析師根據艾略特波浪理論預測 DOGE 可能會反彈至 1 美元。

Dogecoin Declines, Trading Volume Surges

狗狗幣下跌，交易量激增

DOGE has declined by 8% over the last 24 hours and 10% in the past week, currently trading at $0.1103. Amidst this downturn, its trading volume has risen by a remarkable 115%, with over $1 billion worth of DOGE changing hands.

DOGE 在過去 24 小時內下跌了 8%，在過去一周下跌了 10%，目前交易價格為 0.1103 美元。在經濟低迷時期，其交易量顯著增長了 115%，價值超過 10 億美元的 DOGE 易手。

Liquidations Impact DOGE

影響 DOGE 清算

Coinglass data reveals DOGE's prominence in liquidations, with over $4.92 million liquidated within 24 hours. This mirrors the broader market's decline, as Bitcoin also experienced $90.06 million in liquidations during the same period.

Coinglass 數據揭示了 DOGE 在清算方面的突出表現，24 小時內清算了超過 492 萬美元。這反映了大盤的下跌，因為比特幣在同一時期也經歷了 9,006 萬美元的清算。

Profit-Taking and Bearish Indicators

獲利了結和看跌指標

Despite the ongoing sell-off, data suggests that 75.77% of DOGE addresses remain in profit. This profitability level, combined with the bearish sentiment, has sparked a wave of profit-taking among short-term investors.

儘管拋售仍在持續，但數據顯示 75.77% 的 DOGE 地址仍處於盈利狀態。這種獲利水平，加上看空情緒，引發了短期投資者的獲利了結浪潮。

Technical Analysis

技術分析

IntoTheBlock data confirms a significant outflow of DOGE from exchanges. The Relative Strength Index (RSI) indicates a potential entry into oversold territory. The Moving Average Convergence Divergence (MACD) exhibits a slight bearish momentum, while the Bollinger Bands suggest a potential period of volatility or significant price movements.

IntoTheBlock 數據證實 DOGE 大量從交易所流出。相對強度指數（RSI）表示可能進入超賣區域。移動平均線趨同分歧（MACD）顯示出輕微的看跌勢頭，而布林通道則表示潛在的波動期或重大價格變動。

Elliott Wave Prediction

艾略特波浪預測

Crypto analyst Big Mike utilizes the Elliott Wave theory to predict DOGE's future trajectory. According to this theory, DOGE has completed five major waves and is entering a new cycle. Wave (3) is anticipated to drive DOGE's price to between $0.35 and $0.50, followed by a correction in wave (4). Wave (5), the final phase, may propel DOGE towards the $1 level.

加密貨幣分析師 Big Mike 利用艾略特波浪理論來預測 DOGE 的未來軌跡。根據這個理論，DOGE已經完成了五次主要浪潮，正在進入一個新的周期。預計第 (3) 波將推動 DOGE 的價格上漲至 0.35 美元至 0.50 美元之間，隨後將在第 (4) 波中進行調整。第 (5) 浪是最後階段，可能會將 DOGE 推向 1 美元水準。