Amid the ongoing meme coin frenzy, Dogecoin has emerged as the frontrunner, captivating investors with a staggering rally in the DOGE price. The crypto’s recent price surge has solidified its position as a top gainer in the meme coin market.

在持續的迷因幣熱潮中，狗狗幣成為領跑者，以狗狗幣價格的驚人上漲吸引了投資者。該加密貨幣最近的價格飆升鞏固了其作為模因幣市場漲幅最大的地位。

Meanwhile, the jump in its price and market cap has helped it to surpass Cardano (ADA) recently, leaving many intrigued. So, let’s delve into the factors driving Dogecoin’s meteoric rise this week.

同時，其價格和市值的上漲幫助其最近超越了卡爾達諾（ADA），引起了許多人的興趣。那麼，讓我們深入研究一下推動狗狗幣本周迅速上漲的因素。

Why Dogecoin Reigns Supreme Amid Meme Coin Frenzy?

The overall crypto market went through tumultuous trading last week, due to several hovering uncertainties. The significant outflow in the U.S. Spot Bitcoin ETF, the SEC’s investigation on Ethereum’s securities status, and others have dampened the investors’ sentiment.

為什麼狗狗幣在 Meme 幣狂熱中稱霸？由於一些不確定因素，上週整個加密貨幣市場經歷了動盪的交易。美國現貨比特幣ETF大幅流出、SEC對以太坊證券狀況的調查等都打擊了投資者的情緒。

However, despite the looming concerns, Dogecoin has maintained an upward momentum through the week, suggesting the increasing confidence of the investors. Although there could be a flurry of reasons behind the DOGE price rally, let’s look at some key reasons.

然而，儘管擔憂迫在眉睫，狗狗幣本週仍保持上漲勢頭，顯示投資者的信心不斷增強。儘管 DOGE 價格上漲背後可能有一系列原因，但讓我們來看看一些關鍵原因。

Coinbase Announcement Of Dogecoin Futures Listing

Coinbase, the prominent crypto exchange, filed with the CFTC on March 7, to introduce cash-settled futures for Dogecoin (DOGE), Litecoin, and Bitcoin Cash. This move has ignited optimism, particularly among Dogecoin enthusiasts, citing its lasting popularity.

Coinbase 宣布狗狗幣期貨上市 著名的加密貨幣交易所 Coinbase 於 3 月 7 日向美國商品期貨交易委員會 (CFTC) 提交文件，推出狗狗幣 (DOGE)、萊特幣和比特幣現金的現金結算期貨。此舉點燃了樂觀情緒，特別是在狗狗幣愛好者中，理由是其持久的受歡迎程度。

Meanwhile, Coinbase highlights Dogecoin’s long-lasting appeal, attributing its transformation from a meme to a fundamental element in the cryptocurrency industry as a key factor in bolstering market trust. Notably, the exchange aims to launch DOGE futures and other contracts by April 1, emphasizing the growing confidence in Dogecoin’s position.

同時，Coinbase 強調了狗狗幣的持久吸引力，並將其從迷因到加密貨幣行業基本要素的轉變視為增強市場信任的關鍵因素。值得注意的是，該交易所計劃在 4 月 1 日之前推出 DOGE 期貨和其他合約，強調人們對狗狗幣地位的信心不斷增強。

Elon Musk’s Recent Comment

In a recent statement, Tesla CEO and X owner Elon Musk hinted at the potential of Dogecoin as a payment option for Tesla cars, stirring excitement within the crypto market. Musk’s comment, reported by CoinGape Media in mid-March, has fueled speculation and optimism among investors.

馬斯克(Elon Musk) 最近的評論在最近的一份聲明中，特斯拉執行長兼X 所有者 Elon Musk 暗示了狗狗幣作為特斯拉汽車支付選項的潛力，激起了加密市場的興奮。 CoinGape Media 在三月中旬報導了馬斯克的言論，引發了投資者的猜測和樂觀情緒。

Meanwhile, Elon Musk has also promoted the meme-coin earlier and is known for his support of the crypto. Considering, the world’s richest man’s interest in Dogecoin signals a potential significant development in its adoption, further solidifying its position in the cryptocurrency landscape.

與此同時，馬斯克(Elon Musk)也早些時候推廣了迷因幣，並以對加密貨幣的支持而聞名。考慮到，世界首富對狗狗幣的興趣標誌著其採用可能出現重大發展，進一步鞏固了其在加密貨幣領域的地位。

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X Securing More Payment Licenses In the US

X Payments, led by Elon Musk, secures three additional money transmitter licenses across US states this week, insiders reveal. Now licensed in 22 states, X Payments aims to roll out payment features this year.

X 獲得更多支付許可證 內部人士透露，由 Elon Musk 領導的 USX Payments 本週在美國各州獲得了另外三個貨幣傳輸許可證。 X Payments 現已在 22 個州獲得許可，計劃於今年推出支付功能。

Notably, Musk previously hinted at mid-2024 for payment features to go live during a discussion with Ark Invest CEO Cathie Wood. However, following the recent announcement, the Dogecoin price surged, reflecting Musk’s influence. In addition, speculations arise on Dogecoin potentially becoming a payment option on X, marking another milestone for the cryptocurrency.

值得注意的是，馬斯克先前在與 Ark Invest 執行長 Cathie Wood 的討論中暗示，支付功能將於 2024 年中期上線。然而，在最近的聲明發布後，狗狗幣的價格飆升，反映出馬斯克的影響力。此外，人們猜測狗狗幣可能成為 X 上的支付選項，這標誌著加密貨幣的另一個里程碑。

Soaring Whale Activity

The Dogecoin price’s recent rally gained momentum as prominent crypto analyst Ali Martinez reported significant whale activity. On March 21, Martinez highlighted that Dogecoin whales purchased 25 million DOGE over 72 hours, amounting to approximately $3.75 million.

翱翔的鯨魚活動隨著著名加密貨幣分析師阿里·馬丁內斯報告了鯨魚的大量活動，狗狗幣價格最近的上漲勢頭增強。 3 月 21 日，馬丁內斯強調，狗狗幣鯨魚在 72 小時內購買了 2,500 萬個 DOGE，價值約 375 萬美元。

Meanwhile, these substantial purchases indicate growing investor confidence in Dogecoin, contributing to its upward trajectory. Whale movements, coupled with positive developments, have bolstered interest and propelled Dogecoin’s value in the crypto market.

資料來源：Ali Martinez，X 同時，這些大量購買顯示投資者對狗狗幣的信心不斷增強，從而推動了其上升軌跡。鯨魚的活動加上積極的發展，增強了人們的興趣並推動了狗狗幣在加密市場的價值。

Bottom line

Dogecoin’s recent rally indicates a bullish sentiment, with its Open Interest (OI) surging significantly. CoinGlass data reveals a remarkable 11.69% increase in Dogecoin OI over the past 24 hours, reaching $1.35 billion, demonstrating heightened market interest.

底線狗狗幣最近的上漲表明了看漲情緒，其未平倉合約（OI）大幅飆升。 CoinGlass 數據顯示，狗狗幣 OI 在過去 24 小時內大幅增加 11.69%，達到 13.5 億美元，顯示市場興趣濃厚。

Meanwhile, top crypto exchanges like Binance and Bybit witnessed substantial OI spikes over the last 24 hours with jumps of 12.96% and 11.03%, respectively. In addition, despite volatile trading in meme coins, the Dogecoin price’s significant surge over the past week underscores growing investor confidence in this leading meme coin.

與此同時，Binance 和 Bybit 等頂級加密貨幣交易所的 OI 在過去 24 小時內大幅飆升，分別上漲 12.96% 和 11.03%。此外，儘管模因幣的交易波動較大，但狗狗幣價格在過去一周的大幅上漲凸顯了投資者對這種領先的迷因幣的信心不斷增強。

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