• Elon Musk’s influence drives Dogecoin’s price spikes.
• DOGE maintains relevance amid the market downturn.

Dogecoin [DOGE] was no exception to the broader market downturn as its price logged a 11% declined. Though a big name in the industry now, initially the token was dismissed as a joke.

馬斯克(Elon Musk) 的影響力推動了狗狗幣的價格飆升。DOGE 在市場低迷的情況下保持了相關性。狗狗幣[DOGE] 也不例外，在大盤低迷的情況下，其價格下跌了11%。儘管該代幣現在在業界已是大名鼎鼎，但最初卻被視為一個笑話。

Dogecoin gained traction following endorsements from Tesla CEO Elon Musk. Notably, Musk’s remarks on April Fool’s Day last year propelled Dogecoin to new heights.

在特斯拉執行長馬斯克的支持下，狗狗幣獲得了關注。值得注意的是，馬斯克去年愚人節的言論將狗狗幣推向了新的高度。

Noting Musk’s pattern, Kaleo, an anonymous crypto analyst noted, 

一位匿名加密貨幣分析師 Kaleo 注意到了馬斯克的模式，

“Last year Elon waited to change the X logo to DOGE until a couple of days after April Fool’s day…In before he runs it back.” 

「去年，埃隆一直等到愚人節幾天后才將 X 標誌改為 DOGE……然後他又把它改回來了。”

This highlights the anticipation surrounding Musk’s involvement and its potential impact on DOGE’s price dynamics.

這凸顯了人們對馬斯克參與的預期及其對 DOGE 價格動態的潛在影響。

Elon Musk’s forever favorite 

Similar spikes in DOGE value occurred previously in December 2021 and January 2022, when Musk tweeted about Tesla considering merchandise purchases with Dogecoin, subsequently confirming the plans.

馬斯克（Elon Musk）永遠最喜歡的狗狗幣價值此前曾在2021 年12 月和2022 年1 月出現過類似的飆升，當時馬斯克在推特上表示，特斯拉正在考慮使用狗狗幣購買商品，隨後證實了該計劃。

With Dogecoin, becoming people’s new favorite among altcoins, renowned cryptocurrency analyst Ali Martinez has highlighted the potential for a price surge in DOGE. He noted, 

隨著狗狗幣成為人們在山寨幣的新寵，著名加密貨幣分析師阿里·馬丁內斯強調了狗狗幣價格飆升的潛力。他指出，

“I feel my fellow degens have been distracted with the new shiny memecoins, but Dogecoin remains the most important altcoin in this sector.”

“我覺得我的同胞們已經被新的閃亮模因幣分散了注意力，但狗狗幣仍然是這個領域最重要的山寨幣。”

He further added, 

他進一步補充說，

“From a technical perspective, DOGE seems to mirror the 2018-2021 pattern. If so, $DOGE could be at the very beginning of a massive parabolic bull run!” 

「從技術角度來看，DOGE 似乎反映了 2018-2021 年的模式。如果是這樣，$DOGE 可能正處於大規模拋物線牛市的開端！”

This highlights that over the past month, the cryptocurrency has experienced a remarkable 200% increase, nearly doubling in value.

這凸顯出在過去的一個月裡，加密貨幣經歷了 200% 的驚人成長，價值幾乎翻了一番。

Adding to the fray, @CharlieLuck9 added,

@CharlieLuck9 補充道，這也加劇了爭論，

“dogecoin to the moon.” 

“狗狗幣到月球。”

What’s next for DOGE? 

In April 2022, the disclosure of Elon Musk’s investment in Twitter, where he controlled 9.2% of the shares, led to a 20% surge in Dogecoin. Later, when news broke that Musk intended to purchase Twitter for $44 billion, another round of Dogecoin price increases followed.  

DOGE 的下一步是什麼？ 2022 年 4 月，馬斯克 (Elon Musk) 對 Twitter 的投資被披露，他控制著 Twitter 9.2% 的股份，導致狗狗幣飆升 20%。後來，當馬斯克打算以 440 億美元收購 Twitter 的消息傳出時，狗狗幣又一輪價格上漲。

At present, amidst growing interest in newer meme coins, Dogecoin’s performance remains a subject of scrutiny. Despite its recent dip, DOGE has surged over 125% since 2024 began and has seen a 42.6% gain over the past 30 days.

目前，隨著人們對新模因幣的興趣日益濃厚，狗狗幣的表現仍然受到密切關注。儘管最近有所下跌，但 DOGE 自 2024 年開始以來已飆升超過 125%，並且在過去 30 天內上漲了 42.6%。

Hence, the dog-themed memecoin maintains its relevance in the cryptocurrency market, captivating investors and observers alike. 

因此，以狗為主題的迷因幣在加密貨幣市場中保持相關性，吸引了投資者和觀察家。

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