The Dogecoin price is down double-digits today after an eventful week of upward movement. This has seen a good part of its gains eliminated in the last day, pushing the coin into the red along with the rest of the market.

在經歷了多事的一周上漲之後，狗狗幣價格今天下跌了兩位數。這導致其最後一天的大部分漲幅被抵消，導致代幣與市場其他產品一起陷入虧損。

Why Dogecoin Price Is Down This Week

Dogecoin started out Tuesday on a sour note, dropping more than 10% in the 24-hour period as well. This decline is not attributed to a single thing that happened to DOGE, though, but rather a market-wide decline that began with Bitcoin.

狗狗幣價格為何本週下跌 狗狗幣週二開盤表現不佳，24 小時內也下跌了 10% 以上。不過，這種下跌並不是 DOGE 發生的任何事情造成的，而是始於比特幣的整個市場的下跌。

Following the release of the March manufacturing data in the US, the market responded negatively. The report shows that while manufacturing in the country had actually increased for the first time in two years, there wasn’t an increase in employment at these factories. In addition, prices were also higher, thus triggering a negative reaction.

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The Bitcoin price declined around 5% off this report and as expected, altcoins suffered even more for this. BTC went below $66,000 and is now finding its footing at this level. However, DOGE’s price fell 10% before finding support above $0.18.

比特幣價格較本報告下跌約 5%，正如預期的那樣，山寨幣因此遭受的損失更大。 BTC 跌破 66,000 美元，目前正在該水平站穩腳跟。然而，DOGE 的價格下跌了 10%，之後才找到 0.18 美元上方的支撐。

Naturally, Dogecoin is just responding to Bitcoin, which is the market leader. So in this case, an increase in the Bitcoin price would see the DOGE price recover, and a decrease would ensure that the current market crash continues.

當然，狗狗幣只是對市場領導者比特幣的回應。因此，在這種情況下，比特幣價格的上漲將使 DOGE 價格回升，而比特幣價格的下跌將確保當前的市場崩盤繼續下去。

DOGE Price Movements This Week

Dogecoin had moved around 10% in the prior day to reach a new three-year high above $0.22. The initial Dogecoin move upward had been triggered by excitement around Elon Musk’s X (formerly Twitter) finally integrating the meme coin as a payment method on the platform.

DOGE 本週價格走勢狗狗幣前一天上漲了 10% 左右，達到 0.22 美元以上的三年新高。狗狗幣最初的上漲是由馬斯克的 X（前身為 Twitter）最終將模因幣作為平台上的支付方式整合的興奮所引發的。

The social media company had secured additional money transmitter licenses in the United States, sparking speculation of DOGE payments on X coming soon. This, coupled with the expectation that Musk could begin tweeting about DOGE once more, saw its price soar higher.

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Also, the announcement that Coinbase, the largest crypto exchange in the United States, would be launching a perpetual trading contract for DOGE contributed to this upward move. This saw the Dogecoin open interest rise to a new record high of $1.77 billion, signaling high interest in the meme coin.

此外，美國最大的加密貨幣交易所 Coinbase 宣布將推出 DOGE 永續交易合約也推動了這項上漲。這使得狗狗幣的未平倉合約升至 17.7 億美元的新紀錄高位，顯示人們對這種迷因幣的興趣很高。

Despite the crash in the market, bullish sentiment remains nonetheless, especially around Dogecoin. Crypto Analyst Ali Martinez predicts that the Dogecoin price will continue to rise, even putting it as high as $12 as the bull market unfolds.

儘管市場暴跌，但看漲情緒仍然存在，尤其是圍繞著狗狗幣。加密貨幣分析師 Ali Martinez 預測，隨著牛市的展開，狗狗幣的價格將繼續上漲，甚至高達 12 美元。

DOGE price drops 10% to $0.18 | Source: DOGEUSDT on Tradingview.com

DOGE 價格下跌 10% 至 0.18 美元 |資料來源：Tradingview.com 上的 DOGEUSDT 特色圖片來自 U.Today，圖表來自 Tradingview.com