Dogecoin (DOGE) is buckling under its own weight, with a series of metrics sliding backward for the cryptocurrency over the past week. At the time of writing, Dogecoin’s price has slipped 3.14% to $0.07998, with the price touching a low of $0.07964 overnight.

狗狗幣（DOGE）在自身的重壓下不堪重負，過去一週該加密貨幣的一系列指標都出現了下滑。截至撰寫本文時，狗狗幣的價格已下跌 3.14% 至 0.07998 美元，隔夜觸及 0.07964 美元的低點。

The current price of Dogecoin has forced Chainlink (LINK) to boot the coin out of the top 10 list of cryptocurrencies by market cap, a demotion that has not happened to the dog-themed meme coin in more than a year.

狗狗幣目前的價格迫使 Chainlink (LINK) 將其從市值排名前 10 的加密貨幣名單中剔除，這種以狗為主題的模因幣一年多來從未發生過這種降級情況。

This slump in the rankings is not the worst for Dogecoin, as on-chain data, as shared by top market analyst Ali Martinez, shows a reduction in the total transaction volume. While this is a source of concern, Martinez also highlighted how whale volume is declining, underscoring the slow pace of adoption of the coin overall.

對於狗狗幣來說，排名的下滑並不是最糟糕的，因為頂級市場分析師 Ali Martinez 分享的鏈上數據顯示總交易量有所下降。雖然這是一個令人擔憂的問題，但馬丁內斯也強調了鯨魚數量正在下降，突顯了該代幣整體採用速度緩慢。

#Dogecoin is experiencing a decrease in transaction volume and whale transaction count, which typically indicates lower trading activity. This could be a sign that fewer people are buying, selling, or transferring #DOGE, possibly due to reduced interest or confidence in it! pic.twitter.com/SiKNxx4FhN

#Dogecoin 的交易量和鯨魚交易數量正在減少，這通常表示交易活動減少。這可能表示購買、出售或轉讓#DOGE 的人越來越少，可能是因為對其興趣或信心下降！ pic.twitter.com/SiKNxx4FhN

— Ali (@ali_charts) February 12, 2024

— 阿里 (@ali_charts) 2024 年 2 月 12 日

Over the past few years, Dogecoin has seen limited volatility in its price action, with visible ticks generally in favor of market bears. Dogecoin has unique strength, based on the actions of its whales, which might spell worse results for the coin moving forward.

在過去的幾年中，狗狗幣的價格走勢波動有限，明顯的變動通常有利於市場空頭。基於鯨魚的行為，狗狗幣具有獨特的優勢，這可能會為狗狗幣的發展帶來更糟糕的結果。

Potential Dogecoin turnaround

狗狗幣的潛在轉變

Dogecoin is seeing an unimpressive trend overall, and this might be the result of a lack of attractive growth trends in the protocol overall. With no innovations, investors are poised to become tired of speculations, and this might be the current bane of the coin at the moment.

狗狗幣的整體趨勢並不令人印象深刻，這可能是由於協議整體缺乏有吸引力的成長趨勢的結果。如果沒有創新，投資人就會厭倦投機，這可能是目前加密貨幣的禍根。

Flipping one another is a key trend in the Web3 ecosystem, and displaced tokens typically restrategize to reboot their growth fundamentals. For now, the only visible Dogecoin ecosystem activity is the forthcoming Doge-1 space mission, which notably will not impact the ecosystem much beyond the hype.

相互翻轉是 Web3 生態系統的關鍵趨勢，被取代的代幣通常會重新制定策略以重啟其成長基本面。目前，唯一可見的狗狗幣生態系統活動是即將到來的 Doge-1 太空任務，值得注意的是，除了炒作之外，它不會對生態系統產生太大影響。

Unless a drastic revamp is conducted by DOGE developers, other rival meme coins may lead in adoption over time.

除非 DOGE 開發者進行徹底的改造，否則隨著時間的推移，其他競爭對手的迷因幣可能會率先採用。