Dogecoin's open interest has plummeted by over $3 billion since January, currently standing at $1.91 billion, according to Coinglass data. This significant drop, reflecting the total value of outstanding derivatives contracts, indicates a decline in trader engagement with the meme coin.

根據Coinglass數據，Dogecoin的開放興趣下降了30億美元，目前為19.1億美元。 這一重大下降反映了未償還衍生品合同的總價值，表明交易者與模因硬幣的參與下降。

Source: Coinglass

資料來源：小店

Concurrently, derivatives volume has decreased by approximately 30%, settling at $3.71 billion, further reinforcing a bearish market sentiment. This downturn, coupled with a broader market decline, has pushed Dogecoin towards the crucial $0.20 support level. Analysts, including Ali Martinez, warn that a breach of this support could signal the end of Dogecoin's bullish cycle. The combination of declining open interest and trading volume suggests traders are reducing their positions amidst market uncertainty.

同時，衍生工具的數量減少了約30％，達到了37.1億美元，進一步增強了看跌市場的情緒。 這種衰退，再加上更廣泛的市場下降，將Dogecoin推向了至關重要的0.20美元的支持水平。 包括阿里·馬丁內斯（Ali Martinez）在內的分析師警告說，違反這種支持可能會表明Dogecoin的看漲週期的終結。 開放興趣和交易量下降的結合表明，在市場不確定性中，交易者正在減少其頭寸。

Whales bought the dip, accumulating more than 530 million #Dogecoin $DOGE in the last 72 hours! pic.twitter.com/0cRGqxLoXw
— Ali (@ali_charts) February 27, 2025

Network activity metrics paint a concerning picture. New address creation has plummeted from 1.29 million in November to a mere 30,815, while active addresses have fallen from 2.66 million to 130,282. The inactivity of large Dogecoin holders ("whales"), historically influential in price movements, potentially exacerbates the selling pressure.

鯨魚購買了蘸醬，在過去的72小時內積累了超過5.3億#DogeCoin $ Doge！ pic.twitter.com/0crgqxloxw- ali（@ali_charts）2月27日，2025年2月27日，NETWORK活動指標繪製有關圖片的繪畫。 新的地址創建的創建已從11月的129萬人跌至僅30,815，而主動地址從266萬下降到130,282。 歷史上對價格變動產生影響力的大型狗狗幣（“鯨魚”）的不活動可能加劇了銷售壓力。

Dogecoin has formed a Bullish Divergence on RSI $Doge RSI Oversold area was also reached. pic.twitter.com/vwK2TAJrKX

— Trader Tardigrade (@TATrader_Alan) February 27, 2025

Dogecoin還達到了RSI $ DOGE RSI超售區域的看漲分歧。 pic.twitter.com/vwk2tajrkx-交易者Tardigrade（@tatrader_alan）2025年2月27日

Despite the bearish indicators, some analysts maintain a positive outlook. Trader Tardigrade, for instance, suggests Dogecoin's price pattern mirrors its 2017 rally, predicting a rise above $1.7 after a period of consolidation. DOGECAPITAL shares a similar prediction, projecting a potential $1.7 target based on historical cycles observed in 2017 and 2021. While short-term forecasts lean bearish, these optimistic predictions suggest potential gains if market stability returns.

儘管有看跌指標，但一些分析師仍保持積極的看法。例如，Trader Tardigrade建議Dogecoin的價格模式反映了其2017年的集會，預測一段時間後的匯總會上漲1.7美元以上。 Dogecitital共享類似的預測，基於2017年和2021年觀察到的歷史週期，預測了一個潛在的1.7美元目標。儘管短期預測精益缺乏看跌，但這些樂觀的預測表明，如果市場穩定性回報，則可能會取得潛在的增長。

Source: Tradingview

資料來源：TradingView

Currently trading at $0.20723 USD, Dogecoin shows a 1.98% increase (+$0.00402) over the past 24 hours. However, this short-term gain is overshadowed by a significant 18.64% drop over the past week and a 37.93% decline over the last month. The longer-term picture reveals a 103.74% increase over the past six months and a 112.34% rise year-over-year, highlighting its past resilience.

Dogecoin目前的交易價格為0.20723美元，在過去24小時內增長1.98％（0.00402）。 但是，這一短期收益在過去一周中的顯著18.64％的幅度掩蓋了，上個月下降了37.93％。 長期的情況顯示，過去六個月中增長了103.74％，同比增長了112.34％，強調了其過去的韌性。

Recently, Dogecoin experienced a sharp 15% drop within two days, falling below the critical 200-day Simple Moving Average (SMA) at $0.24 for the first time since October 2024. This breach signifies intensified selling pressure and a test of new support levels.

最近，Dogecoin在兩天內經歷了15％的急劇下降，低於至關重要的200天簡單移動平均線（SMA），自2024年10月以來首次降至0.24美元。這種違規表明銷售壓力加強和新的支持水平的測試。

Technical Indicators and Market Sentiment

技術指標和市場情緒

Dogecoin's downward momentum continues, with its price hovering near support levels around $0.19 – $0.20.

Dogecoin的下降勢頭仍在繼續，其價格徘徊在支撐水平接近0.19 - $ 0.20。

Source: Tradingview

資料來源：TradingView

A rebound from this zone could potentially trigger a short-term recovery, possibly targeting the $0.24 – $0.26 range. The RSI's approach to oversold conditions suggests a potential correction if buying pressure resurfaces.

從該區域進行反彈可能會觸發短期恢復，可能以0.24美元至0.26美元的價格觸發。 RSI的超售條件的方法表明，如果購買壓力浮出水面，則可以進行校正。

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Dogecoin網絡活動崩潰了97％ - Elon Musk Memecoin時代結束了嗎？首先出現在Ethnews上。