• Despite a certain transaction, DOGE’s price might fall in the short term
• Decreasing velocity suggested that the coin might climb towards $0.25 in a few months

According to blockchain tracker Whale Alert, a market participant sent 100 million Dogecoin [DOGE] from Robinhood to an unidentified wallet. At the time of the transfer, the coins were worth $15.25 million, sparking speculation that the price could hike soon.

儘管有一定的交易，DOGE 的價格可能會在短期內下跌。從Robinhood 向一個身份不明的錢包發送了1 億個狗狗幣[DOGE]。轉讓時，這些代幣價值 1525 萬美元，引發了價格可能很快就會上漲的猜測。

Robinhood is a trading platform where users can exchange their cryptocurrencies for fiat. In most cases, inflows into the platform come with a motive to sell. However, since the coins went out to a non-exchange wallet, it is possible that the intention is to hold for some time. When something like this happens, the cryptocurrency’s price jumps or consolidates on the charts.

Robinhood 是一個交易平台，使用者可以將加密貨幣兌換成法定貨幣。在大多數情況下，流入平台的資金都帶有出售動機。然而，由於這些代幣被轉移到非交換錢包中，因此其意圖可能是持有一段時間。當類似的事情發生時，加密貨幣的價格會在圖表上上漲或盤整。

A little decline before the hike?

For Dogecoin, AMBCrypto cannot yet confirm what the end result could be. However, it seemed that the decision may be to prepare for the post-Bitcoin [BTC] halving price performance.

升息前小幅下跌？然而，這項決定似乎是為比特幣減半後的價格表現做準備。

Historically, prices of memecoins like Dogecoin have surged to astronomical values months after the halving. At press time, DOGE was clinging to $0.15, representing a 4.64% hike within just 24 hours.

從歷史上看，狗狗幣等迷因幣的價格在減半幾個月後就飆升至天文數字。截至發稿時，DOGE 維持在 0.15 美元，在短短 24 小時內上漲了 4.64%。

However, on-chain data from Santiment showed that the uptick might not last. This, because of the trend displayed by the one-day circulation. At the time of writing, Dogecoin’s circulation had risen to 1.07 billion. The hike implied that more coins are being used, with fewer ones taken off the market.

然而，Santiment 的鏈上數據顯示，這種上漲可能不會持續。這是因為單日流通量所顯示的趨勢。截至撰寫本文時，狗狗幣的發行量已升至 10.7 億枚。這次上漲意味著更多的代幣被使用，而市場上的代幣減少了。

If the metric continues to climb, then DOGE’s value might fall. On the contrary, the coin’s velocity flashed a different signal, with the same having a value of 1.49.

如果該指標持續攀升，那麼 DOGE 的價值可能會下降。相反，硬幣的速度閃爍著不同的訊號，其值為 1.49。

Source: Santiment

資料來源：Santiment

Bitcoin pours more into DOGE

A high velocity for a cryptocurrency indicates solid economic activity. In this instance, holders are spending a lot of their coins. However, a decrease, like in DOGE’s situation, suggests a reluctance to spend.

比特幣向 DOGEA 投入更多資金，加密貨幣的高速流通顯示經濟活動穩健。在這種情況下，持有者花費了大量的代幣。然而，就像 DOGE 的情況一樣，下降表明人們不願意花錢。

In the short-term, a rising circulation might draw DOGE below $0.15. However, if the velocity remains low in the coming months, DOGE’s price could rally and targets between $0.20 and $0.25 could be plausible.

短期內，發行量上升可能會將 DOGE 拉至 0.15 美元以下。然而，如果未來幾個月的流通速度仍然較低，DOGE 的價格可能會上漲，目標價可能在 0.20 美元至 0.25 美元之間。

AMBCrypto also assessed Dogecoin’s correlation with Bitcoin. This was done to check if DOGE’s price might follow BTC’s direction over the next few weeks.

AMBCrypto 也評估了狗狗幣與比特幣的相關性。這樣做是為了檢查 DOGE 的價格在未來幾週內是否會遵循 BTC 的方向。

According to data from Macroaxis, the 90-day correlation coefficient between both cryptocurrencies is 0.94. This metric ranges from -1 to +1. A value close to -1 shows almost no correlation while the other shows strong similar movement.

根據 Macroaxis 的數據，兩種加密貨幣之間的 90 天相關係數為 0.94。此指標的範圍從 -1 到 +1。接近 -1 的值表示幾乎沒有相關性，而另一個值則顯示出強烈的相似運動。

Source: Macroaxis

來源：Macroaxis

Despite the correlation, DOGE would have generated 1.66 times more than BTC if you invested the same amount in the last three months.

儘管存在相關性，如果您在過去三個月投資相同金額，DOGE 的收益將是 BTC 的 1.66 倍。

Realistic or not, here’s DOGE’s market cap in BTC terms

不管現實與否，這是 DOGE 以 BTC 計算的市值

Moving on, this might not change. As such, if Bitcoin’s price tumbles, Dogecoin could plunge harder. On the other hand, a significant increase in Bitcoin’s value could stir a mind-blogging rally for DOGE like the one last seen in March.

繼續前進，這可能不會改變。因此，如果比特幣價格暴跌，狗狗幣可能會跌得更厲害。另一方面，比特幣價值的大幅上漲可能會引發 DOGE 的瘋狂反彈，就像 3 月出現的那樣。

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