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Significant developments in the cryptocurrency market continue to make headlines. Accordingly, Dogecoin price surged today, increasing by approximately 9.5% in the last 24 hours to reach $0.151 on May 14. By doing so, the memecoin outperformed the broader cryptocurrency market, which had a return of around 2.75% during the same period.

加密貨幣市場的重大發展繼續成為頭條新聞。因此，狗狗幣價格今天飆升，在過去24 小時內上漲約9.5%，於5 月14 日達到0.151 美元。為2.75%。

Why is Dogecoin Rising?

狗狗幣為何上漲？

Today’s price increase in Dogecoin is part of a broader upward trend in the memecoin sector. For instance, Shiba Inu, Pepe, and other memecoin projects also experienced significant rises in the last 24 hours, as shown below. Investors began flocking to Dogecoin and other memecoin projects following the sudden and unexpected return of Keith Gill, the person behind the 2021 GameStop short squeeze, after a three-year hiatus.

今天狗狗幣的價格上漲是模因幣行業更廣泛的上漲趨勢的一部分。例如，Shiba Inu、Pepe 等 memecoin 專案在過去 24 小時內也出現了大幅上漲，如下圖所示。在 2021 年 GameStop 軋空事件的幕後推手基思·吉爾 (Keith Gill) 時隔三年後突然回歸後，投資者開始湧向狗狗幣和其他模因幣項目。

Gill was at the center of the GameStop process during the pandemic. Reddit investors turned the tables on hedge funds that were shorting the supposedly failing brick-and-mortar game store, leading to GME’s price rising over 1,000% in less than a month.

在大流行期間，吉爾是 GameStop 流程的中心人物。 Reddit 投資者扭轉了對沖基金的局面，這些基金做空了這家據稱已經失敗的實體遊戲商店，導致 GME 的價格在不到一個月的時間內上漲了 1,000% 以上。

The duration of the short squeeze in GameStop coincided with significant increases in memecoin projects like Dogecoin and Shiba Inu, indicating increased risk appetite among individual investors. This is similar to the event in May when GameStop’s stock value doubled just hours after Gill’s return, triggering a rise in the memecoin sector.

GameStop 的軋空持續時間與狗狗幣和柴犬等 memecoin 項目的大幅增加同時發生，顯示個人投資者的風險偏好有所增加。這與 5 月的事件類似，當時 GameStop 的股價在吉爾回歸後幾小時就翻了一番，引發了 memecoin 領域的上漲。

DOGE Chart Analysis

DOGE圖表分析

From a technical perspective, the gains in DOGE are part of a rise developing within a formation that appears to be an inverse head-and-shoulders (IH&S) pattern. An IH&S pattern develops when the price forms three consecutive troughs; the middle trough (head) is the lowest and is flanked by two higher troughs (shoulders). This situation resolves when the price breaks above the neckline and rises by the height of the formation.

從技術角度來看，DOGE 的上漲是一種似乎是反向頭肩 (IH&S) 模式的上漲的一部分。當價格形成三個連續的低谷時，IH&S 模式就會形成；中間的槽（頭部）最低，兩側有兩個較高的槽（肩部）。當價格突破頸線並上漲至形態高度時，這種情況就會解決。

As of May 14, DOGE was entering the penultimate stage of the formation and was poised to form the right shoulder with a decisive close above the neckline around $0.166. In this case, DOGE’s IH&S target for May would be around $0.227, a 55% increase from the current price level.

截至 5 月 14 日，DOGE 正進入該形態的倒數第二階段，並準備形成右肩，最終收於頸線上方 0.166 美元附近。在這種情況下，DOGE 5 月的 IH&S 目標將約為 0.227 美元，比目前物價水準上漲 55%。

Conversely, a pullback below the right shoulder trough around $0.135 would risk the price falling to $0.122 in May. This level has served as support since March.

相反，如果回調至右肩谷底 0.135 美元左右，則 5 月價格可能會跌至 0.122 美元。自三月以來，該水準一直是支撐位。

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