In a riveting turn of events, amid the broader crypto market’s recovery witnessed recently, Dogecoin appears to have defied the broader trend in the market as its price showcased a waining trajectory today, April 9. This comes primarily attributed to a plethora of bearish on-chain factors, potentially pulling DOGE’s price toward a downtrend. Here’s a closer look into the factors that may have pulled DOGE’s price into a slump.

在最近見證的更廣泛的加密貨幣市場的復甦中，發生了一系列引人入勝的事件，狗狗幣似乎違背了市場的更廣泛趨勢，因為其價格在今天（4 月9 日）呈現出下跌趨勢。這主要歸因於過多的看跌情緒連鎖因素，可能將 DOGE 的價格拉向下跌趨勢。以下是對可能導致 DOGE 價格暴跌的因素的進一步研究。

Factors Mirroring DOGE’s Bearish Movement

Intriguingly, Dogecoin’s waining price trajectory, with its price dipping below $0.2 as of press time, per CoinMarketCap’s data, rides along numerous bearish factors encompassing colossal whale dump and on-chain data hinting at a loss of investor interest. Here’s a deeper dive:

反映狗狗幣看跌走勢的因素有趣的是，根據CoinMarketCap 的數據，狗狗幣的價格軌跡不斷下降，根據CoinMarketCap 的數據，截至發稿時其價格已跌至0.2 美元以下，這與眾多看跌因素有關，其中包括龐大的鯨魚拋售和暗示投資者興趣喪失的鏈上數據。這是更深入的研究：

Derivatives Data Fuels Bearish Sentiments

According to the on-chain insights streamlined by Coinglass, DOGE’s derivatives volume saw a notable 5.04% dip, reaching $3.97 billion, further escorted by an open interest plunge of 1.44%, reaching $1.66 billion. This signaled a significant reduction in market activity for DOGE, and, coupled with the OI-weighted funding rate’s tumbled movement, resting at 0.0347%, data flags a significant reduction in investor interest in the asset. Further, as the price continues to slip, this data underscores an overall bearish sentiment in the market.

衍生性商品數據助長看跌情緒根據 Coinglass 簡化的鏈上洞察，DOGE 的衍生性商品交易量顯著下降 5.04%，達到 39.7 億美元，進一步伴隨著未平倉合約暴跌 1.44%，達到 16.6 億美元。這顯示 DOGE 的市場活動大幅減少，再加上 OI 加權融資利率下跌至 0.0347%，數據顯示投資者對該資產的興趣大幅下降。此外，隨著價格持續下滑，該數據凸顯了市場整體看跌情緒。

Liquidations On The Rise

Meanwhile, notably, 58,052 traders were liquidated in the past 24 hours, with the total liquidations evaluated as $195.92 million. The largest liquidation order occurred on Binance -BTCUSDT, valued at $5.28 million. Amid this, Dogecoin liquidations totaled $5.36 million, with long positions at $3.01 million and short positions at $2.34 million. This further underscored a bearish sentiment prevailing among crypto market traders and investors, falling in line with DOGE’s fall.

值得注意的是，過去 24 小時內有 58,052 名交易者被清算，清算總額估計為 1.9,592 億美元。最大的強平訂單發生在幣安-BTCUSDT，價值 528 萬美元。其中，狗狗幣清算總額為 536 萬美元，多頭部位為 301 萬美元，空頭部位為 234 萬美元。這進一步凸顯了加密貨幣市場交易者和投資者普遍存在的看跌情緒，與 DOGE 的下跌一致。

Whale Dumps Massive Amounts Of DOGE

Additionally, per the data offered by Whale Alert, a staggering 245 million DOGE was dumped to Robinhood, an American exchange, by an unknown address today. This further stirred a pool of bearishness for DOGE, showcasing the whale’s loss of confidence in the asset, with supply gains for the token on exchanges.

Whale 拋售大量 DOGE 此外，根據 Whale Alert 提供的數據，今天有 2.45 億枚 DOGE 透過未知地址被拋售至美國交易所 Robinhood。這進一步激起了人們對 DOGE 的看跌情緒，表明鯨魚對該資產失去了信心，而交易所代幣的供應量增加了。

🚨 🚨 245,000,000 #DOGE (49,622,788 USD) transferred from unknown wallet to #Robinhoodhttps://t.co/49ncXiaMbG

🚨 🚨 245,000,000 #DOGE（49,622,788 美元）從未知錢包轉移到#Robinhoodhttps://t.co/49ncXiaMbG

— Whale Alert (@whale_alert) April 8, 2024

— 鯨魚警報 (@whale_alert) 2024 年 4 月 8 日

Although the blockchain tracker highlighted DOGE accumulations as well, the massive dump appears to have undermined the accumulations, with a bearish trend for DOGE surfing in the market, as mentioned above.

儘管區塊鏈追蹤器也強調了 DOGE 的積累，但大規模拋售似乎削弱了積累，如上所述，DOGE 在市場上沖浪呈現看跌趨勢。

Also Read: ETH Price Holds Firms Above $3,700 Despite Ethereum ETF Uncertainty, What’s Next?

另請閱讀：儘管以太坊 ETF 存在不確定性，但 ETH 價格仍堅守在 3,700 美元以上，下一步是什麼？

Dogecoin Price Fluxes With A Falling Trend

In the interim, following a highly volatile movement, the Dogecoin token’s price noted a 0.61% drop in the past 24 hours and is currently resting at $0.1993. This high volatility, further accompanied by a downward trend, indicates significant uncertainty and selling pressure in the market. Moreover, this fall is further reinforced by a market cap dip of 0.60% and a 24-hour trading volume fall of 7.94%, anchoring DOGE’s bearish turn.

狗狗幣價格呈下跌趨勢波動在此期間，經過高度波動，狗狗幣代幣的價格在過去 24 小時內下跌了 0.61%，目前穩定在 0.1993 美元。這種高波動性，進一步伴隨著下降趨勢，顯示市場存在巨大的不確定性和拋售壓力。此外，市值下跌 0.60% 和 24 小時交易量下跌 7.94% 進一步加劇了這一下跌，鞏固了 DOGE 的看跌轉向。

Also Read: US Treasury Seeks Stronger Crypto Controls for National Security

另請閱讀：美國財政部尋求加強國家安全的加密控制