Dogecoin Experiences Significant Price Decline

狗狗幣價格大幅下跌

On May 28, Dogecoin (DOGE) witnessed a notable price drop of 5%, reaching an intraday low of $0.16192. This decline was more pronounced than the broader cryptocurrency market, which experienced a loss of approximately 1.47% during the same period. The fall in DOGE's value comes after a 3.2% dip in Bitcoin within the last 24 hours. Despite impressive gains of over 7.5% in the past month, DOGE's current trajectory has raised concerns among investors.

5 月 28 日，狗狗幣 (DOGE) 價格大幅下跌 5%，觸及日內低點 0.16192 美元。這一跌幅比更廣泛的加密貨幣市場更為明顯，加密貨幣市場同期下跌了約 1.47%。 DOGE 價值下跌是在比特幣在過去 24 小時內下跌 3.2% 之後發生的。儘管過去一個月的漲幅超過 7.5%，但 DOGE 目前的走勢引起了投資者的擔憂。

Causes of Dogecoin's Decline

狗狗幣下跌的原因

Between May 22 and May 26, Dogecoin's value began to slide, and it now trades 2.5% below its value from the previous week. Data analysis from Coinglass, a blockchain analytics platform, indicates a significant 37% decrease in open interest (OI) in DOGE futures contracts, dropping from $1.67 billion in mid-April to $1.04 billion.

5 月 22 日至 5 月 26 日期間，狗狗幣的價值開始下滑，目前其交易價格較前一周下跌 2.5%。區塊鏈分析平台 Coinglass 的數據分析顯示，DOGE 期貨合約的未平倉合約 (OI) 大幅下降 37%，從 4 月中旬的 16.7 億美元降至 10.4 億美元。

Additionally, the funding rate for Dogecoin perpetual futures contracts fell from 0.0243% on May 23 to 0.0118% on May 28. These declining metrics reflect a bearish sentiment among investors, which could be contributing to the increased selling pressure on DOGE.

此外，狗狗幣永續期貨合約的融資利率從5 月23 日的0.0243% 降至5 月28 日的0.0118%。 。

Market Dynamics Impacting Dogecoin

影響狗狗幣的市場動態

The broader market correction, which led to millions of dollars being liquidated, also impacted DOGE, reducing its price to $0.1512. Whale activity has surged, with transactions of $100,000 or more in DOGE rising considerably. IntoTheBlock reported a 28% increase in transactions between $100,000 and $1 million last week, and a more than 55% rise in transactions over $1 million in the past 30 days, suggesting institutional investors are cashing in on profits.

更廣泛的市場調整導致數百萬美元被清算，也影響了 DOGE，使其價格降至 0.1512 美元。鯨魚活動激增，DOGE 10 萬美元或以上的交易大幅增加。 IntoTheBlock 報告稱，上週 10 萬美元至 100 萬美元之間的交易量增長了 28%，過去 30 天內超過 100 萬美元的交易量增長了 55% 以上，這表明機構投資者正在兌現利潤。

A bearish divergence between DOGE's price and its relative strength index (RSI) on the weekly timeframe also contributed to the recent decline. Despite higher DOGE prices from April 15 to May 28, the daily RSI recorded lower levels, signaling weakening momentum and prompting traders to sell.

每週時間框架內 DOGE 價格與其相對強弱指數 (RSI) 之間的看跌背離也導致了近期的下跌。儘管 4 月 15 日至 5 月 28 日 DOGE 價格上漲，但每日 RSI 錄得較低水平，表明勢頭減弱並促使交易者拋售。

Key Insights for Investors

投資者的重要見解

Investor actions point to several trends that could influence Dogecoin's price:

投資者的行動顯示了可能影響狗狗幣價格的幾個趨勢：

• Decreased open interest in DOGE futures could signal further price drops.
• Falling funding rates indicate a bearish outlook among investors.
• Increased whale transactions may cause additional selling pressure.
• Bearish RSI divergence suggests weakening market strength.

IntoTheBlock's IOMAP model identifies support for DOGE around the $0.165 region with resistance between $0.163 and $0.168. Approximately 97,980 addresses hold about 7.03 billion DOGE in this range. This concentration of holdings at these levels may add selling pressure, potentially driving the price lower. The next major support level is the 50-day simple moving average at $0.10, which could offer some stability if the downward trend continues.

DOGE 期貨未平倉頭寸減少可能預示著價格進一步下跌。美元區域附近得到支撐阻力位在 0.163 美元至 0.168 美元之間。約 97,980 個地址持有該範圍內約 70.3 億個 DOGE。在這些水平上持倉集中可能會增加拋售壓力，從而可能推動價格走低。下一個主要支撐位是 0.10 美元的 50 天簡單移動平均線，如果下跌趨勢持續下去，該支撐位可能會提供一定的穩定性。

The post first appeared on BH NEWS: Dogecoin Faces Notable Price Drop

該貼文首次出現在 BH NEWS：狗狗幣面臨顯著的價格下跌