Experienced crypto analyst Nicholas Merten warned that the correction of Dogecoin (DOGE), the favorite memecoin of crypto investors, against Bitcoin (BTC) (DOGE/BTC) is likely to continue and said that the decline will persist.

經驗豐富的加密貨幣分析師Nicholas Merten 警告稱，加密貨幣投資者最喜歡的memecoin 狗狗幣(DOGE) 相對於比特幣(BTC) (DOGE/BTC) 的修正可能會繼續，並表示下跌將持續下去。

Continued Decline Against Bitcoin

比特幣持續下跌

Merten, in his latest video update, stated that the graph of the monthly time frame DOGE/BTC trading pair continues to show weakness, and he expects Dogecoin to remain in a downtrend against Bitcoin for a while:

Merten 在最新的視訊更新中表示，DOGE/BTC 交易對的月度圖表繼續顯示疲軟，他預計狗狗幣相對於比特幣將在一段時間內保持下跌趨勢：

I believe that in the future, things will move upward and then sideways, but I don’t think it will happen yet. I must point out that if this is a new support and after seeing a 22% increase in a single monthly candle, starting to give back this gain over three months is not a sign of a bull market.

我相信未來事情會先往上，然後橫向發展，但我認為這還不會發生。我必須指出，如果這是一個新的支撐位，並且在看到單月蠟燭上漲 22% 後，開始在三個月內回吐這一漲幅，並不是牛市的跡象。

In order for us to say that Dogecoin is in a bull market, we need to see large percentage increases like 600% or 542%. In more moderate months, these rates are at lower levels like 80%, 30%, 209%. We have witnessed increases of 72%, 79%, and 114% in a single month. I am waiting for these types of increases to see a bull market in DOGE.

為了讓我們說狗狗幣處於多頭市場，我們需要看到大幅成長，例如 600% 或 542%。在較溫和的月份，這些比率處於較低水平，如 80%、30%、209%。我們見證了單月增長 72%、79% 和 114%。我正在等待這些類型的上漲，以看到 DOGE 的牛市。

“DOGE/BTC Can Recover If It Does What It Did in June 2022 and October 2022”

“如果 DOGE/BTC 能像 2022 年 6 月和 2022 年 10 月那樣，它就能恢復”

Merten stated that Dogecoin can be subjected to a serious evaluation only if it starts to repeat the price movements similar to June 2022 and October 2022:

Merten 表示，只有當狗狗幣開始重複類似 2022 年 6 月和 2022 年 10 月的價格走勢時，才可以對其進行認真的評估：

I’m not very interested in the current trend. In June 2022, buyers made a 23% increase and then a big 94% increase followed. I understand that some factors like Elon Musk mentioning the use of DOGE in payments above X had an effect on this increase.

我對現在的趨勢不太感興趣。 2022 年 6 月，買家數量增加了 23%，隨後又大幅增加了 94%。據我所知，一些因素（例如馬斯克提到在 X 以上的支付中使用 DOGE）對這一增長產生了影響。

The current story is not very important. What matters is the price movement because regardless of these stories, if the price no longer reflects this story and continues to move downward consistently, if buyers do not come, it means it will probably continue to fall further.

目前的故事並不是很重要。重要的是價格走勢，因為無論這些故事如何，如果價格不再反映這個故事並繼續持續下跌，如果買家不來，這意味著價格可能會繼續進一步下跌。

This is a rolling effect caused by decreasing expectations. People slowly realize that they are overexposed, they understand that the likelihood of the decline continuing is high, and assets start to move only when buyers really start to put pressure on the market.

這是由於期望降低而導致的滾動效應。人們慢慢意識到自己暴露過度，他們明白持續下跌的可能性很高，只有當買家真正開始對市場施加壓力時，資產才開始移動。

繼續閱讀：https://en.coin-turk.com/dogecoins-decline-against-bitcoin-is-expected-to-continue-warns-analyst/