Dogecoin Whale Transactions Decline Sharply, Indicating Reduced Market Participation

Dogecoin鯨魚交易急劇下降，表明市場參與減少

Ali, a prominent crypto analyst, has observed a significant decline in whale activity within the Dogecoin (DOGE) network. Whale transactions exceeding $1 million have plummeted by approximately 88% since mid-November.

著名的加密分析師阿里（Ali）觀察到，狗狗（Doge）網絡中鯨魚活動的大幅下降。自11月中旬以來，超過100萬美元的鯨魚交易暴跌約88％。

Correlation between DOGE Price and Whale Activity

道en·價格和鯨魚活動之間的相關性

During the period of whale transaction decline, DOGE's price has fluctuated, experiencing both gains and corrections. Transaction volume tended to mirror these price movements, reflecting increased trading activity during periods of market volatility. However, recent data suggests a sharp decrease in both whale transactions and overall trading volume, indicating reduced participation from major investors.

在鯨魚交易下降期間，Doge的價格波動，既有收益又進行了矯正。交易量傾向於反映這些價格變動，反映了市場波動期間的交易活動增加。但是，最近的數據表明，鯨魚交易和整體交易量都大幅下降，這表明主要投資者的參與減少了。

Peak in Whale Activity and Market Volatility

鯨魚活動和市場波動的高峰

In late November and early December, DOGE experienced a price surge, accompanied by a subsequent series of corrections. During this period, transaction volume surged significantly, and whale activity reached a peak, exacerbating market volatility.

在11月下旬和12月初，Doge經歷了價格上漲，隨後進行了一系列更正。在此期間，交易量大幅飆升，鯨魚活動達到了高峰，加劇了市場的波動。

Market Cooling and Reduced Volatility

市場冷卻和降低波動

As DOGE's price peaked and declined in mid-December, whale transactions remained active, influencing market swings. However, in late December and early January, price movements were accompanied by increased transaction volume.

由於Doge的價格在12月中旬達到頂峰並下降，因此鯨魚交易仍然活躍，影響了市場波動。但是，在12月下旬和1月初，價格變動伴隨著交易量增加。

In mid-January, DOGE saw another price spike, alongside a rise in whale transactions and trading volume. However, this peak proved short-lived, and the price soon resumed its downward trend.

1月中旬，Doge看到了另一個價格飆升，以及鯨魚交易和交易量的增加。但是，這一山峰被證明是短暫的，價格很快恢復了其下降趨勢。

Reduced Large-Scale Trading

減少了大規模交易

By early February, DOGE's price had continued to fall, and transaction volume generally trended downward, reflecting decreased market participation. The decline in whale transactions suggests a reduction in large-scale trading.

到2月初，Doge的價格繼續下降，交易量通常向下趨勢，反映了市場參與的下降。鯨魚交易的下降表明大規模交易的減少。

As a result, DOGE stabilized at approximately $0.267 by mid-February, with reduced volatility compared to previous months.

結果，到2月中旬，Doge穩定在約0.267美元，與前幾個月相比，波動率降低。

Shift towards Retail Traders

轉向零售商人

The observed trend suggests that large investors may have taken profits during price surges. Reduced whale transactions indicate that fewer major market players are actively influencing price movements. Consequently, DOGE's price movements now appear to be more heavily influenced by retail traders than institutional investors.

觀察到的趨勢表明，大型投資者在價格飆升期間可能已獲利。減少的鯨魚交易表明，較少的主要市場參與者正在積極影響價格變動。因此，與機構投資者相比，Doge的價格變動似乎受零售商人的影響更大。