Dogecoin Experiences Significant Price Drop

狗狗幣價格大幅下跌

Dogecoin experienced a notable price decline of 5% on May 28, reaching an intraday low of $0.16192. This drop surpassed the broader crypto market's decline of approximately 1.47% during the same period. The decline in DOGE follows Bitcoin's 3.2% drop in the preceding 24 hours. Despite recent gains, with an increase of over 7.5% in the last 30 days, DOGE has now fallen.

狗狗幣 5 月 28 日價格顯著下跌 5%，盤中低點為 0.16192 美元。這一跌幅超過了同期加密貨幣市場約 1.47% 的跌幅。 DOGE 下跌之前，比特幣在過去 24 小時內下跌了 3.2%。儘管近期有所上漲，過去 30 天漲幅超過 7.5%，但 DOGE 現在已經下跌。

Causes of Dogecoin's Price Drop

狗狗幣價格下跌的原因

Dogecoin's price began to decline between May 22 and May 26, and it now trades 2.5% below its value from a week ago. According to Coinglass, a blockchain data analysis platform, this decline coincides with a substantial 37% drop in open interest (OI) in futures contracts, decreasing from $1.67 billion in mid-April to $1.04 billion.

狗狗幣的價格在 5 月 22 日至 5 月 26 日期間開始下跌，目前交易價格較一週前下跌 2.5%。根據區塊鏈數據分析平台 Coinglass 的數據，這一下降恰逢期貨合約未平倉合約大幅下降 37%，從 4 月中旬的 16.7 億美元降至 10.4 億美元。

Furthermore, Dogecoin perpetual futures contracts' funding rate has decreased from 0.0243% on May 23 to 0.0118% on May 28. Declining funding rates and OI indicate bearish sentiment among investors, potentially amplifying selling pressure on DOGE.

此外，狗狗幣永續期貨合約的資金費率已從5月23日的0.0243%下降至5月28日的0.0118%。的拋售壓力。

Future Outlook for Dogecoin

狗狗幣的未來展望

The recent market-wide correction, resulting in millions of dollars liquidated, has also impacted DOGE, driving its price down to $0.1512. Notably, whale activity, characterized by large transactions of $100,000 or more in DOGE, has increased. IntoTheBlock reports that transactions between $100,000 and $1 million surged by over 28% last week, while transactions exceeding $1 million rose by more than 55% in the last 30 days. This surge suggests that institutional investors are cashing out profits, contributing to the ongoing correction.

最近的市場調整導致數百萬美元被清算，也對 DOGE 產生了影響，導致其價格跌至 0.1512 美元。值得注意的是，以 DOGE 100,000 美元或以上的大額交易為特徵的鯨魚活動增加。 IntoTheBlock 報告稱，上週 10 萬美元至 100 萬美元之間的交易量激增了 28% 以上，而過去 30 天內超過 100 萬美元的交易量增長了 55% 以上。這種飆升表明機構投資者正在兌現利潤，促成了持續的調整。

The recent price drop in DOGE aligns with a bearish divergence between its price and the relative strength index (RSI) on the weekly timeframe. Despite DOGE's price reaching higher highs from April 15 to May 28, the daily RSI recorded lower levels, indicating a weakening uptrend and encouraging traders to secure profits.

DOGE 最近的價格下跌與其價格和每週時間範圍內的相對強弱指數 (RSI) 之間的看跌背離相符。儘管DOGE的價格在4月15日至5月28日期間達到更高的高點，但每日RSI錄得較低水平，顯示上升趨勢減弱並鼓勵交易者獲取利潤。

IntoTheBlock's IOMAP model reveals support for DOGE at the $0.165 region and resistance in the $0.163 to $0.168 range. Approximately 97,980 addresses acquired around 7.03 billion DOGE within this range. Increased selling at this level could amplify downward pressure, potentially leading to a further price decline. The 50-day simple moving average at $0.10 represents the next significant support level.

IntoTheBlock 的 IOMAP 模型顯示 DOGE 的支撐位在 0.165 美元區域，阻力位在 0.163 美元至 0.168 美元範圍內。在此範圍內，大約 97,980 個地址獲得了約 70.3 億個 DOGE。此水準上的拋售增加可能會放大下行壓力，可能導致價格進一步下跌。 0.10 美元的 50 天簡單移動平均線代表下一個重要支撐位。

The article was originally published on COINTURK NEWS: Dogecoin Experiences Significant Price Drop

文章原刊於 COINTURK NEWS：狗狗幣價格大幅下跌