Dogecoin's Consolidation and Market Dynamics

狗狗幣的整合與市場動態

Dogecoin has remained in a consolidation phase recently, with attempts to regain momentum stalling. At $0.1242, it faces a decline of over 42% from its yearly high, indicating a prolonged bear market.

狗狗幣最近仍處於盤整階段，恢復勢頭的嘗試陷入停滯。其價格為 0.1242 美元，較年度高點下跌超過 42%，顯示熊市將持續較長時間。

This contrasts with the performance of other meme cryptocurrencies. MOTHER Iggy, linked to Iggy Azelia, surged 18% on Wednesday, recovering over 75% from its weekly low. Similarly, Hoppy has skyrocketed over 3,600% since its May low, while Doland Tremp has gained 90% in recent days.

這與其他迷因加密貨幣的表現形成鮮明對比。與 Iggy Azelia 有關的 MOTHER Iggy 週三股價飆升 18%，從一周低點回升超過 75%。同樣，Hoppy 自 5 月低點以來已飆升超過 3,600%，而 Doland Tremp 最近幾天上漲了 90%。

Dogecoin's weak performance is likely due to the shift in focus among day traders towards emerging meme coins with strong returns since 2023. Tokens like Bonk, Pepe, and Dogwifhat have surpassed mainstream cryptocurrencies like Bitcoin, Ethereum, and Solana in that period.

狗狗幣的疲軟表現可能是由於自2023 年以來日間交易者的注意力轉向了回報強勁的新興模因幣。等主流加密貨幣。

Trading data indicates subdued demand for Dogecoin, with its 24-hour volume consistently falling below $1 billion, a modest figure compared to smaller meme coins. CoinGecko data reveals that Pepe's 24-hour volume exceeded $1 billion.

交易數據顯示狗狗幣的需求疲軟，其 24 小時交易量持續低於 10 億美元，與較小的迷因幣相比，這個數字不大。 CoinGecko數據顯示，Pepe的24小時交易量超過10億美元。

The trend is reflected in the futures market, as Dogecoin's open interest has declined significantly. From a March peak of $1.9 billion, it has plummeted to $578 million, primarily concentrated on Binance, Bybit, and Bitget.

這一趨勢反映在期貨市場上，狗狗幣的未平倉合約大幅下降。從 3 月的峰值 19 億美元，已暴跌至 5.78 億美元，主要集中在 Binance、Bybit 和 Bitget。

Technical Analysis

技術分析

Technical indicators show Dogecoin's price remaining below the 200-day and 50-day Exponential Moving Averages (EMA), a bearish signal. This situation may worsen if the two moving averages intersect to form a "death cross," a bearish pattern often associated with significant declines.

技術指標顯示狗狗幣的價格仍低於 200 天和 50 天指數移動平均線 (EMA)，這是一個看跌訊號。如果兩條移動平均線相交形成“死亡交叉”，這種情況可能會惡化，這是通常與大幅下跌相關的看跌模式。

Dogecoin also faces a crucial support level, the price reached on May 1st and the neckline of a double-top pattern. This suggests a potential further drop towards the psychological level of $0.10.

狗狗幣也面臨關鍵的支撐位，即 5 月 1 日達到的價格和雙頂形態的頸線。這表明價格可能進一步下跌至 0.10 美元的心理水平。