Meme cryptocurrency Dogecoin (DOGE) is currently experiencing short-term buying pressure, partly capitalizing on the overall market’s attempt to exit the recent bearish scenario. 

Meme 加密貨幣狗狗幣（DOGE）目前正面臨短期買盤壓力，部分利用了整體市場試圖退出近期看跌局面的機會。

Recent gains by DOGE position the token to potentially surpass Avalanche (AVAX) in market capitalization. At present, Dogecoin boasts a market cap of $11.32 billion, securing the 10th spot, while Avalanche holds the 9th position with a market cap of $11.74 billion, a difference of $420 million. 

DOGE 最近的上漲使該代幣的市值有可能超過 Avalanche (AVAX)。目前，狗狗幣市值為 113.2 億美元，排名第十，而 Avalanche 市值為 117.4 億美元，排名第九，相差 4.2 億美元。

Dogecoin is striving to reclaim its position after losing ground to AVAX in December. Considering the market cap difference between the two, attention is focused on DOGE’s ability to sustain buying pressure and potentially flip AVAX.

在去年 12 月輸給 AVAX 後，狗狗幣正在努力奪回自己的地位。考慮到兩者之間的市值差異，人們的注意力集中在 DOGE 維持購買壓力並可能翻轉 AVAX 的能力上。

Dogecoin price prediction

狗狗幣價格預測

Examining the price of DOGE reveals that the token has traded in a narrow range between $0.70 and $0.08 in recent weeks, indicating a consolidation phase where both bulls and bears await a catalyst to break the stalemate.

檢查 DOGE 的價格發現，最近幾週該代幣的交易價格在 0.70 美元到 0.08 美元之間的窄幅區間內，這表明多頭和空頭都在等待催化劑打破僵局的盤整階段。

Notably, Dogecoin has faced hurdles in the early days of 2024, and its performance above the $0.07 mark is crucial for initiating a rally that could see the token potentially surpass AVAX.

值得注意的是，狗狗幣在 2024 年初遇到了障礙，其高於 0.07 美元大關的表現對於發起反彈至關重要，可能會看到該代幣可能超越 AVAX。

If Dogecoin manages to ascend beyond the $0.080 mark, there’s potential for the cryptocurrency to aim for higher milestones, possibly reaching $0.09 and even approaching the $0.1 mark after overcoming the $0.085 resistance. At the same time, a correction could see Dogecoin dropping below $0.07.

如果狗狗幣成功突破 0.080 美元大關，則該加密貨幣有可能實現更高的里程碑，可能達到 0.09 美元，甚至在克服 0.085 美元阻力後接近 0.1 美元大關。與此同時，狗狗幣的回檔可能會跌破 0.07 美元。

While Dogecoin has generally followed the overall market trend in recent months, bullish sentiment could be validated by external factors, particularly the influence of Tesla (NASDAQ: TSLA) CEO Elon Musk, a prominent token supporter.

雖然狗狗幣近幾個月來總體上遵循了整體市場趨勢，但看漲情緒可能會受到外部因素的驗證，特別是著名代幣支持者特斯拉（納斯達克股票代碼：TSLA）首席執行馬斯克（Elon Musk）的影響。

The spotlight on Dogecoin has intensified after X (formerly Twitter) launched a dedicated ‘X Payments’ account, potentially expanding the token’s use cases. The resulting rally, driven by X’s interest, has positioned DOGE among the top altcoins.

X（前身為 Twitter）推出專用「X Payments」帳號後，狗狗幣的關注度進一步加強，這可能會擴大該代幣的使用場景。在 X 的興趣推動下，由此產生的反彈使 DOGE 躋身頂級山寨幣之列。

Positive sentiments like these will likely generate more interest in DOGE, potentially increasing its market value and paving the way to surpass AVAX.

像這樣的正面情緒可能會引起人們對 DOGE 的更多興趣，從而有可能增加其市場價值並為超越 AVAX 鋪平道路。

Dogecoin price analysis

狗狗幣價格分析

By press time, DOGE was trading at $0.08, marking a daily increase of 3%, with a 3.6% gain on the weekly chart.

截至發稿，DOGE 交易價格為 0.08 美元，日漲幅為 3%，週線圖漲幅為 3.6%。

Technical indicators present an unfavorable outlook for the DOGE price, with the summary leaning towards a ‘sell’ signal at 11. Moving averages align with a ‘strong sell’ recommendation at 11, while oscillators lean towards a ‘buy’ signal at 2.

技術指標顯示 DOGE 價格前景不利，總結傾向於 11 處的「賣出」訊號。移動平均線與 11 處的「強力賣出」建議一致，而振盪指標傾向於 2 處的「買進」訊號。

Ultimately, the possibility of Dogecoin flipping Avalanche in market cap will depend on several key elements, including the meme coin’s ability to sustain its bullish momentum. Given that both cryptocurrencies have recently traded in tandem with the general market, Dogecoin will also require a sustained boost from Musk-related developments.

最終，狗狗幣市值翻轉雪崩的可能性將取決於幾個關鍵因素，包括迷因幣維持看漲動能的能力。鑑於這兩種加密貨幣最近與整體市場同步交易，狗狗幣還需要馬斯克相關發展的持續推動。

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