Dogecoin Suffers Price Decline, Triggering Surge in Liquidations

狗狗幣價格下跌，引發清算激增

Leading meme coin Dogecoin (DOGE) has experienced a significant price decline in the past week. The drop intensified on June 17th, with DOGE plummeting to a three-month low of $0.12, leading to a spike in long liquidations, reaching $44.21 million that day. This represented the highest figure since the beginning of the year.

領先的模因幣狗狗幣（DOGE）在過去一周經歷了大幅價格下跌。 6 月 17 日跌勢加劇，DOGE 暴跌至三個月低點 0.12 美元，導致多頭清算激增，當天達到 4,421 萬美元。這是今年以來的最高數字。

Short Traders Pay Funding Fee

空頭交易者支付資金費

During this market downturn, the value of short positions liquidated was under $400,000, while long liquidations surged. Consequently, DOGE's funding rate across cryptocurrency exchanges has been predominantly negative. As of this writing, the meme coin's weighted funding rate remains negative at -0.003%.

在這次市場低迷期間，空頭部位清算價值低於 40 萬美元，而多頭部位清算激增。因此，DOGE 在加密貨幣交易所的融資率主要為負值。截至撰寫本文時，meme 幣的加權融資利率仍為負值 -0.003%。

Funding Rate Explained

資金費率解釋

Funding rates are payments made between traders to align the market price of a futures contract with the underlying asset's spot price. A positive funding rate indicates higher demand for long positions, while a negative rate suggests more traders anticipate a price decline.

資金費率是交易者之間為了使期貨合約的市場價格與標的資產的現貨價格保持一致而進行的支付。正的融資利率顯示多頭頭寸的需求增加，而負的融資利率則表示更多的交易者預期價格會下跌。

Price Prediction: Long Traders Face Challenges

價格預測：多頭交易者面臨挑戰

Dogecoin's price has fallen below its 20-day exponential moving average (EMA) and 50-day simple moving average (SMA). This trendline breach signifies increased selling pressure and a bearish sentiment among traders.

狗狗幣的價格已跌破 20 天指數移動平均線 (EMA) 和 50 天簡單移動平均線 (SMA)。這種趨勢線的突破意味著拋售壓力增加和交易者的看跌情緒。

Elder-Ray Index Confirms Bearishness

Elder-Ray 指數確認看跌

The negative Elder-Ray Index for DOGE confirms the bearish outlook. This indicator measures buyer and seller strength, and a negative value denotes market dominance by bears. As of now, the Elder-Ray Index value for DOGE stands at -0.023.

DOGE 的負面 Elder-Ray 指數證實了看跌前景。此指標衡量買家和賣家的實力，負值表示空頭佔市場主導地位。截至目前，DOGE 的 Elder-Ray 指數值為 -0.023。

Outlook

外表

If market control remains with bears and selling momentum continues, DOGE's value could potentially drop to $0.11. However, a shift towards bullish sentiment and increased buying pressure could push the coin's price towards $0.13.

如果空頭繼續控制市場並且拋售勢頭持續，DOGE 的價值可能會跌至 0.11 美元。然而，看漲情緒的轉變和購買壓力的增加可能會將代幣的價格推向 0.13 美元。