Whale Activity Dwindles, Impacting Dogecoin's Price and Volatility

鯨魚活動減少，影響Dogecoin的價格和波動性

Whale activity in Dogecoin's market has declined significantly, with large transactions dropping to nearly 88% below mid-November 2024 levels. Historically, these large trades have been a key factor in the currency's stability.

Dogecoin市場中的鯨魚活動已大大下降，大型交易降至2024年11月中旬的水平低於88％。從歷史上看，這些大型交易一直是貨幣穩定性的關鍵因素。

Peak Whale Activity and Subsequent Decline

峰鯨活動和隨後的下降

Whale activity surged during the latter half of 2024, particularly during November and December. However, by mid-November, this activity plummeted, resulting in a sharp reduction in large transactions. This shift in market sentiment was evident in the near disappearance of whale transactions by February 2025.

鯨魚活動在2024年後半段，尤其是在11月和12月期間激增。但是，到11月中旬，這種活動暴跌，導致大型交易急劇減少。到2025年2月，在鯨魚交易的幾乎消失中，這種市場情緒的這種轉變顯而易見。

Potential Factors Driving the Decline

推動下降的潛在因素

According to market analyst Ali, this drastic decrease in whale activity may stem from several large institutional investors and holders reducing or reallocating their investments.

據市場分析師阿里（Ali）稱，鯨魚活動的這種急劇下降可能源於幾個大型機構投資者和持有人減少或重新分配其投資。

Impact on Price and Market Dynamics

對價格和市場動態的影響

Whales traditionally provide liquidity and stability to the market. Their reduced presence could lead to weaker support for Dogecoin's price and increased volatility, as the market becomes more retail-driven.

鯨魚傳統上為市場提供流動性和穩定性。隨著市場變得更加零售，他們的存在減少可能導致對Dogecoin的價格的支持較弱，並增加波動性。

Reduced Volatility in Dogecoin's Price

Dogecoin價格的波動降低

As whale activity decreased, so too did the volatility in Dogecoin's price. This is reflected in the price action observed from late December 2024 to early 2025. Price movements were noticeably less volatile during this time, with minimal fluctuations observed as Dogecoin oscillated within a narrow range.

隨著鯨魚活動的減少，狗狗幣價格的波動也是如此。這反映在從2024年12月下旬至2025年初觀察到的價格動作中。在這段時間裡，價格變動的波動明顯降低，並且在狹窄範圍內觀察到Dogecoin振蕩的最小波動。

Market Analyst Perspective and Critical Support Levels

市場分析師的觀點和關鍵支持水平

Analyst best_analysts expressed a bearish outlook for Dogecoin, citing the reduced whale activity and fading market support. The critical support levels for DOGE are identified at $0.22, with a stronger support zone between $0.176 and $0.18. If DOGE breaks below these levels, further price declines are anticipated.

分析師BEST_ANALYSTS表示對Dogecoin的看跌前景，理由是減少了鯨魚活動和衰落的市場支持。 Doge的關鍵支撐水平為0.22美元，支持區更強，在0.176美元至0.18美元之間。如果Doge突破了這些水平，則預計將有進一步的價格下降。

Hesitation in the Derivatives Market

衍生品市場的猶豫

Despite the bearish sentiment in the spot market, the derivatives market also exhibits some hesitancy. Dogecoin's derivatives trading volume currently stands at $1.3 billion, with a slight decline of 0.23% observed in the last 24 hours. The decline in open interest suggests a loss of confidence in Dogecoin's uncertain price direction.

儘管在現貨市場上產生了看跌的情緒，但衍生品市場也表現出一些猶豫。 Dogecoin的衍生品交易量目前為13億美元，在過去的24小時內觀察到0.23％的略有下降。開放興趣的下降表明，對Dogecoin的不確定價格方向失去了信心。

Conclusion

結論

The downturn in whale activity for Dogecoin has had a significant impact on the currency's price and volatility. While the derivatives market remains somewhat hesitant, the outlook for Dogecoin remains uncertain until a clear trend emerges.

Dogecoin的鯨魚活動低迷對貨幣的價格和波動性產生了重大影響。儘管衍生品市場仍然有些猶豫，但狗狗幣的前景仍然不確定，直到出現明顯的趨勢。