The digital currency ecosystem is seeing a mild gain retraction as Bitcoin (BTC) failed to match up to expectations following the debut of spot Bitcoin Exchange Traded Fund (ETF) products. Dogecoin (DOGE) bears are riding this negative price trend, with a 1.80% drop in the past 24 hours to $0.08479. 

由於現貨比特幣交易所交易基金 (ETF) 產品首次亮相後，比特幣 (BTC) 未能達到預期，數位貨幣生態系統的漲幅正在溫和回落。狗狗幣 (DOGE) 熊市正乘著這種負面價格趨勢，在過去 24 小時內下跌 1.80%，至 0.08479 美元。

This slump becomes more concerning if the trading volume, which has dropped by 27% to $609,330,772, is factored in.

如果考慮到交易量下降 27% 至 609,330,772 美元，這種暴跌就變得更加令人擔憂。

The drop in the price of Dogecoin is at best attributable to whales within the network losing their much-needed traction. Data from crypto analytics platform IntoTheBlock (ITB) revealed that Dogecoin’s large transaction volume has dropped by 5.89%, with just about $1.3 billion traded in the past 24 hours.

狗狗幣價格的下跌最多可歸因於網路內的鯨魚失去了急需的吸引力。加密分析平台 IntoTheBlock (ITB) 的數據顯示，狗狗幣的大額交易量下降了 5.89%，過去 24 小時內的交易額僅約 13 億美元。

The exodus of whales from the Dogecoin ecosystem is unusual as the coin remains one of the most favored digital currencies by large buyers. 

鯨魚從狗狗幣生態系統中撤離是不尋常的，因為狗狗幣仍然是大買家最青睞的數位貨幣之一。

DOGE 鯨魚體積（來自 IntoTheBlock）

When zoomed in, the data shows that there was a total of 1,420 large transactions as of Jan. 11, up from 920 as of Jan. 9. Despite this increment, the volume slipped overnight, dropping to the current level from the $1.38 billion it traded at as of Jan. 10.

放大後的數據顯示，截至1 月11 日，大額交易總數為1,420 筆，高於1 月9 日的920 筆。儘管有這一增量，但交易量在一夜之間出現下滑，從13.8 億美元降至目前的水平。截至 1 月 10 日交易。

Boosting Dogecoin price with bull’s return

牛市回歸推高狗狗幣價格

The general sentiment on the market as of today does not encourage a solo price breakout for any major digital currency. However, the return of Dogecoin whales might spark a turnaround in the meme coin, which has a good record of printing solo rides in momentary breakout from its correlations with Bitcoin.

截至目前市場的整體情緒並不鼓勵任何主要數位貨幣的單獨價格突破。然而，狗狗幣鯨魚的回歸可能會引發迷因幣的轉變，該幣在印刷單人騎行方面有著良好的記錄，暫時突破了與比特幣的相關性。

While the Doge-1 space mission to the moon remains an exciting development within the Dogecoin ecosystem, the top meme coin lacks enough fundamentals beyond the roles the whales can play. Whether or not large buyers have the right motivation to chart an ambitious buying path remains to be seen in the coming days and weeks.

雖然 Doge-1 登月太空任務仍然是狗狗幣生態系統中令人興奮的發展，但除了鯨魚可以扮演的角色之外，頂級迷因幣缺乏足夠的基礎知識。大型買家是否有正確的動機來制定雄心勃勃的購買路徑，仍有待未來幾天和幾週的觀察。