According to Zack Pokorny, research analyst at Galaxy, the dog-themed cryptocurrency Dogecoin (DOGE) may be awakening yet again.

Galaxy 研究分析師 Zack Pokorny 表示，以狗為主題的加密貨幣狗狗幣 (DOGE) 可能會再次覺醒。

Dogecoin's price has been underwhelming this year, but it is already exhibiting signs of life, with on-chain data revealing increased activity, implying potential for future rises.

狗狗幣的價格今年一直表現平淡，但它已經顯示出生命的跡象，鏈上數據顯示活動增加，這意味著未來上漲的潛力。

the doge awakens ! shout-out to @ZackPokorny_ for an excellent follow-up report on the most honest memecoin, DOGE .love to see dog money ripping again 🚀https://t.co/5zpd0xs9Gs

總督甦醒了！向 @ZackPokorny_ 大聲喊出關於最誠實的 memecoin DOGE 的出色後續報告。喜歡看到狗錢再次被掠奪🚀https://t.co/5zpd0xs9Gs

— Christine Kim (@christine_dkim) December 15, 2023

— 克里斯汀金 (@christine_dkim) 2023 年 12 月 15 日

DOGE is up 77% from its bear market lows of $0.053 in June 2022, but it is still down 86% from its all-time highs of $0.68. In its lifespan, the extended 91% drop in the DOGE price has happened twice before big rallies.

DOGE 較 2022 年 6 月的熊市低點 0.053 美元上漲了 77%，但仍較歷史高點 0.68 美元下跌了 86%。在其生命週期中，DOGE 價格在大幅上漲之前已經發生過兩次持續下跌 91% 的情況。

Based on past price trends and statistical indicators, the DOGE price is at a healthy level and may be ready for a recovery. The imminent launch of the DOGE-1 satellite adds a literal moonshot element as well.

根據過去的價格趨勢和統計指標，DOGE 價格處於健康水平，可能已準備好復甦。即將發射的 DOGE-1 衛星也增加了真正的登月計畫元素。

Dogecoin was down 1.02% in the last 24 hours to $0.094 at the time of writing. According to the research, the DOGE market price has been trending higher than its realized price since November 2022. This move signaled the end of bear markets and the beginning of bull markets.

截至撰寫本文時，狗狗幣在過去 24 小時內下跌 1.02%，至 0.094 美元。研究顯示，自 2022 年 11 月以來，DOGE 市場價格一直高於其實際價格。這一舉動標誌著熊市的結束和牛市的開始。

Other factors leading up to Dogecoin's reawakening

導致狗狗幣重新覺醒的其他因素

Despite Dogecoin's lackluster price performance, on-chain indicators have been reaching some of the healthiest levels in years and, in some cases, new highs.

儘管狗狗幣的價格表現不佳，但鏈上指標已達到多年來最健康的水平，在某些情況下還創下新高。

Unconventional indicators such as block size reveal new catalysts, which are being driven by the launch of DRC-20 tokens on Dogecoin.

區塊大小等非常規指標揭示了新的催化劑，這些催化劑是由狗狗幣上推出的 DRC-20 代幣推動的。

The Dogecoin network has seen an increase in daily transactions and block size, owing to an increase in the number of users and sending addresses. These data indicate that there is a renewed interest in Dogecoin and its on-chain potential.

由於用戶數量和發送地址的增加，狗狗幣網路的每日交易量和區塊大小增加。這些數據顯示人們對狗狗幣及其鏈上潛力重新產生了興趣。

In this regard, Dogecoin has seen a massive influx of new and active users. The number of non-zero balance addresses has increased by 282,000 (5%) in the last 30 days, while the number of sending addresses has increased by 43,500 (127%), returning to December 2021 / January 2022 levels.

在這方面，狗狗幣已經迎來了大量新用戶和活躍用戶的湧入。過去30天內非零餘額地址數量增加了282,000個（5%），而發送地址數量增加了43,500個（127%），回到了2021年12月/2022年1月的水平。

In May 2023, the Dogecoin network saw a huge rise in daily transactions, increasing the cumulative transaction count by 64% in fewer than 50 days. On Nov. 8, daily transaction counts climbed 26 times, reigniting this pattern.

2023 年 5 月，狗狗幣網路的每日交易量大幅成長，在不到 50 天內累積交易數增加了 64%。 11 月 8 日，每日交易量增加了 26 倍，重新點燃了這一模式。

Dogecoin's improving fundamentals should not be disregarded, with the network's hashrate reaching all-time highs of 875 TH/s. This demonstrates that there is an increasing interest in mining DOGE and sustaining the network.

狗狗幣不斷改善的基本面不容忽視，而網路的算力達到了 875 TH/s 的歷史新高。這顯示人們對開採 DOGE 和維持網路越來越感興趣。