Surge in Dogecoin Price Driven by Network Growth and Market Sentiment

網路成長和市場情緒推動狗狗幣價格飆升

Dogecoin (DOGE) has experienced a significant price surge, escalating over 5% within the past 24 hours and reaching an intraday high of $0.1409. This rally coincides with a broader recovery in the cryptocurrency market, with Bitcoin and other major coins also exhibiting strong gains.

狗狗幣 (DOGE) 經歷了大幅價格飆升，在過去 24 小時內上漲超過 5%，並達到日內高點 0.1409 美元。這次反彈恰逢加密貨幣市場更廣泛的復甦，比特幣和其他主要貨幣也表現出強勁的漲幅。

Drivers of the Price Surge

價格飆升的驅動因素

The primary factors behind Dogecoin's latest price surge appear to be:

狗狗幣最近價格飆升背後的主要因素似乎是：

• Increased Network Activity: Data from IntoTheBlock indicates a surge in active and new DOGE addresses, suggesting growing user engagement and adoption.
• Growing Wallet Balances: Market intelligence firm Santiment reports a 6.6 million increase in non-empty DOGE wallets, representing a 27% growth over the past six months.
• Shift in Market Sentiment: Coinglass data reveals a positive funding rate for Dogecoin, indicating an increased appetite for long positions. This shift in sentiment typically follows significant price movements.

Positive Funding Rates and Short Liquidations

網路活動增加：來自IntoTheBlock 的數據表明，活躍和新的DOGE 地址激增，表明用戶參與度和採用率不斷提高。比去年同期成長了27%過去六個月。這種情緒的轉變通常伴隨著重大的價格波動。

Coinglass data shows that Dogecoin's open interest (OI) funding rate has flipped positive, suggesting a growing preference for long positions. This sentiment shift is often observed after substantial price movements, as evidenced by DOGE's 8.3% ascent between May 2 and May 3.

Coinglass 數據顯示，狗狗幣的未平倉利息 (OI) 融資利率已轉為正值，顯示人們越來越傾向於多頭部位。這種情緒轉變通常是在價格大幅波動後出現的，5 月 2 日至 3 日期間 DOGE 上漲 8.3% 就證明了這一點。

The recent price recovery was accompanied by short liquidations totaling $2.65 million, compared to $537,550 long liquidations. This indicates that traders were caught off guard by the memecoin's resurgence.

最近的價格回升伴隨著總計 265 萬美元的空頭清算，而多頭清算為 537,550 美元。這表明交易者對模因幣的復甦感到措手不及。

Surge in Trading Activity

交易活動激增

Dogecoin has also experienced a significant increase in trading volume over the past 12 hours, suggesting renewed investor interest. Data from Coinglass shows a 25% increase in spot trading volume, reaching $1.15 billion, with Binance, OKX, and Bybit accounting for a substantial portion of this activity.

狗狗幣在過去 12 小時內的交易量也顯著增加，顯示投資者的興趣重新燃起。 Coinglass 的數據顯示，現貨交易量成長了 25%，達到 11.5 億美元，其中 Binance、OKX 和 Bybit 佔據了這項活動的很大一部分。

Conclusion

結論

Dogecoin's latest price surge is attributed to a combination of positive on-chain metrics, a shift in market sentiment, and increased trading activity. As the broader cryptocurrency market continues to recover, Dogecoin's performance will likely remain under close scrutiny by investors and enthusiasts alike.

狗狗幣最近的價格飆升歸因於積極的鏈上指標、市場情緒的轉變以及交易活動的增加。隨著更廣泛的加密貨幣市場繼續復甦，狗狗幣的表現可能仍將受到投資者和愛好者的密切關注。