The throne of Dogecoin (DOGE), the King of meme coins, seems to have shaken up. The DOGE price has been slumping unprecedentedly in recent months. Spotlighting the reasons for Dogecoin price dip, a crypto analyst underscored that the hype around this meme crypto might be dying.

狗狗幣（DOGE）這個迷因幣之王的寶座似乎動搖了。近幾個月來，DOGE 價格出現了前所未有的下跌。一位加密貨幣分析師在指出狗狗幣價格下跌的原因時強調，圍繞這種迷因加密貨幣的炒作可能正在消亡。

Why Is Dogecoin Price Dropping?

為什麼狗狗幣價格下跌？

Crypto analyst Ali Martinez has noted a concerning trend for Dogecoin as transaction volume and whale transaction count decrease. These metrics, indicative of lower trading activity, suggest a potential decline in interest or confidence in the meme crypto. With fewer individuals engaging in buying, selling, or transferring DOGE, its market dynamics appear to be shifting.

加密貨幣分析師阿里馬丁內斯（Ali Martinez）注意到，隨著交易量和鯨魚交易數量的減少，狗狗幣出現了令人擔憂的趨勢。這些指標顯示交易活動減少，顯示人們對迷因加密貨幣的興趣或信心可能下降。隨著參與購買、出售或轉讓 DOGE 的人數減少，其市場動態似乎正在改變。

狗狗幣交易量和鯨魚交易數下降，來源：阿里圖表 | X

The above-mentioned observation aligns with the current slump in Dogecoin’s price, reflecting investor sentiment and caution in the crypto market. The DOGE price has dropped below $0.080 despite the recent rebound over the $0.082 level.

上述觀察結果與當前狗狗幣價格的暴跌相符，反映了投資者的情緒和對加密貨幣市場的謹慎態度。儘管最近反彈至 0.082 美元水平，但 DOGE 價格已跌破 0.080 美元。

According to Into The Block statistics, the Dogecoin whale transactions volume in the last 24 hours is $630.13 million. It represents more than a 50% decline from the volume of $1.38 billion recorded on January 10, 2024. Moreover, the daily trading volume for Dogecoin dropped massively to $286.87 million from $778 million a month ago.

根據Into The Block統計，最近24小時狗狗幣鯨魚交易額為6.3013億美元。與 2024 年 1 月 10 日記錄的 13.8 億美元交易量相比，下降了 50% 以上。此外，狗狗幣的每日交易量從一個月前的 7.78 億美元大幅下降至 2.8687 億美元。

Also Read: DeeStream (DST): Could This Leap Forward for Streamers Leave Dogecoin (DOGE) and Uniswap (UNI) Holders Behind?

另請閱讀：DeeStream (DST)：串流媒體的這一飛躍能否將狗狗幣 (DOGE) 和 Uniswap (UNI) 持有者拋在後面？

DOGE Price Slumps Below $0.08

DOGE 價格跌破 0.08 美元

As of writing, the Dogecoin price was down by 3.26% to $0.0799 on Monday, February 12, 2024. Whilst, the meme coins boasted a market cap of $11.42 billion, down by 3.50%. In contrast, though the daily trade volume for DOGE is following a downtrend, it saw a 7.38% increase to $286 million in the last 24 hours.

截至本文撰寫時，狗狗幣價格於 2024 年 2 月 12 日星期一下跌 3.26%，至 0.0799 美元。與此同時，迷因幣的市值為 114.2 億美元，下跌 3.50%。相較之下，DOGE 的日交易量雖然呈下降趨勢，但在過去 24 小時內成長了 7.38% 至 2.86 億美元。

Amid the price drop, the Dogecoin open interest also slumped significantly as derivatives traders pulled their money out. According to Coinglass data, the DOGE open interest dropped 3.77% to $474.31 million at press time. In addition, massive liquidations were noted for DOGE today.

在價格下跌的同時，由於衍生性商品交易商撤資，狗狗幣的未平倉合約也大幅下降。根據 Coinglass 數據，截至發稿時，DOGE 未平倉合約下跌 3.77%，至 4.7431 億美元。此外，今日 DOGE 出現大規模清算。

In the past 24 hours, $1.09 million of Dogecoin liquidations were registered. Almost the entire liquidation concerned the long positions while only $195 worth of short positions were exited. This suggests that long-term DOGE holders are on a selling spree to minimize their losses as the price slumps, thereby catalyzing a further drop in value.

在過去 24 小時內，狗狗幣清算額達到 109 萬美元。幾乎全部清算都涉及多頭頭寸，而只有價值 195 美元的空頭部位被平倉。這表明，隨著價格下跌，DOGE 的長期持有者正在瘋狂拋售，以盡量減少損失，從而催化價值進一步下跌。

Also Read: Meme Coin Price Prediction: Future of Meme Coins Analyzed

另請閱讀：Meme 幣價格預測：Meme 幣的未來分析

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