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Despite a new era for markets with last week’s ETF approval, the current downturn challenges hopes for 2024, especially if Bitcoin remains below $20,000. Emotional trading heavily influences investors’ reactions to positive or negative developments in the cryptocurrency space.

儘管上週 ETF 獲得批准，市場進入了新時代，但當前的低迷對 2024 年的希望構成了挑戰，特別是如果比特幣仍低於 20,000 美元的話。情緒交易嚴重影響投資者對加密貨幣領域正面或負面發展的反應。

Dogecoin, the “king of meme coins,” has not lived up to expectations despite its market cap. It’s been nearly two years since developers announced work on a smart contract solution, and the Dogecoin Foundation’s reactivation has failed to make a significant impact, with Elon Musk’s interest in the cryptocurrency waning.

儘管市值很高，但「迷因幣之王」狗狗幣並未達到預期。自從開發人員宣布開發智能合約解決方案以來已經近兩年了，狗狗幣基金會的重新激活未能產生重大影響，馬斯克(Elon Musk)對加密貨幣的興趣逐漸減弱。

DOGE’s viability is threatened by its speculative nature and lack of utility. Its continued relevance depends on influencers engaging with it. Without such engagement, the social dominance and headlines of 2021 may not return, potentially leading to a lower trading volume and price target.

DOGE 的生存能力受到其投機性質和缺乏實用性的威脅。它的持續相關性取決於影響者的參與。如果沒有這種參與，2021 年的社會主導地位和頭條新聞可能不會回歸，可能導致交易量和目標價降低。

Long-term perspectives on Dogecoin are grim, as evidenced by the declining trend in miner reserves despite the general market uptick. Significant DOGE holders are selling off their reserves, with a nearly 8% reduction in just 90 days, indicating a loss of confidence and potential.

狗狗幣的長期前景並不樂觀，儘管市場整體上漲，但礦工儲備卻呈下降趨勢證明了這一點。 DOGE 的重要持有者正在拋售其儲備，短短 90 天內減少了近 8%，表明信心和潛力喪失。

Key metrics like social and search volumes show waning interest in DOGE, further weakened by the rise of newer meme coins like PEPE and BONK. Investors aware of the long-term risks may have to wait for Dogecoin’s resurgence, which does not seem imminent despite the possibility of short visits by liquidity to assets like Shib and Doge during extended market rallies.

社交和搜尋量等關鍵指標顯示人們對 DOGE 的興趣正在減弱，而 PEPE 和 BONK 等新模因幣的崛起進一步削弱了這種興趣。意識到長期風險的投資者可能必須等待狗狗幣的復甦，儘管在長期的市場反彈期間，流動性可能會短暫訪問 Shib 和 Doge 等資產，但狗狗幣的復甦似乎並不迫在眉睫。

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