Dogecoin Price Plunges in Market Bloodbath

狗狗幣價格在市場大屠殺中暴跌

As Bitcoin plummeted by 11.25%, the cryptocurrency market suffered a collective hemorrhage. Dogecoin, the iconic memecoin, bore the brunt of the impact, tumbling 32% over the last three days. In the past 24 hours alone, Dogecoin's value has nosedived by 20.70%. This volatility presented a prime opportunity for short-traders and investors seeking to accumulate tokens.

隨著比特幣暴跌11.25%，加密貨幣市場遭遇集體大出血。標誌性迷因幣狗狗幣首當其衝，在過去三天內暴跌 32%。僅在過去 24 小時內，狗狗幣的價值就暴跌了 20.70%。這種波動為尋求累積代幣的空頭交易者和投資者提供了絕佳的機會。

Dogecoin Metrics

狗狗幣指標

Data from DeFiLlama reveals a 32.65% decline in Dogecoin's total value locked (TVL) over the past three tumultuous days. On December 17, TVL stood at $8.82 million, while at the time of writing, it had dwindled to $5.94 million. The memecoin also witnessed a near 50% drop in open interest (OI). On December 9, with Dogecoin priced at $0.45, OI reached $4.34 billion. As the price slipped below $0.30, OI plummeted to $2.26 billion.

DeFiLlama 的數據顯示，在過去三天動盪的日子裡，狗狗幣的總鎖定價值 (TVL) 下降了 32.65%。 12 月 17 日，TVL 為 882 萬美元，而在撰寫本文時，已減少至 594 萬美元。 Memecoin 的未平倉合約 (OI) 也下降了近 50%。 12 月 9 日，狗狗幣價格為 0.45 美元，OI 達到 43.4 億美元。隨著價格跌破 0.30 美元，OI 暴跌至 22.6 億美元。

Price Analysis

價格分析

Dogecoin currently trades at $0.28, finding some support at $0.27, thanks to the presence of the 100-day moving average (MA). The price has fallen below the 20-day and 50-day MA, while the 200-day MA hovers around $0.17. The Relative Strength Index (RSI) stands at 30.15, indicating that Dogecoin has entered the oversold zone, potentially signaling an accumulation opportunity for whales.

狗狗幣目前的交易價格為 0.28 美元，由於 100 日移動平均線 (MA) 的存在，在 0.27 美元處找到了一些支撐。價格已跌破20日和50日均線，200日均線徘徊在0.17美元附近。相對強弱指數（RSI）為30.15，顯示狗狗幣已進入超賣區域，可能預示鯨魚的吸籌機會。

Trading Momentum

交易動力

Analysis of whale orders and large trade data from Coinglass suggests that Dogecoin remains in a perilous zone. Despite efforts to recover, substantial short positions persist. The red circles in the image below depict large trades, while the red and green lines indicate whale order activity.

對 Coinglass 的鯨魚訂單和大宗貿易數據的分析表明，狗狗幣仍處於危險區域。儘管努力恢復，但大量空頭部位仍然存在。下圖中的紅圈表示大額交易，而紅線和綠線表示鯨魚訂單活動。

Future Outlook

未來展望

The cryptocurrency community is acutely aware of Dogecoin's tendency to mirror Bitcoin's price movements. As BTC attempts to stabilize and recoup its value, similar patterns can be observed in Doge. Fresh buying pressure could push the price upward, but the possibility of further declines cannot be ruled out. The broader market downturn triggered by Bitcoin's plunge has impacted Dogecoin. During periods of market uncertainty, caution is advised in leveraged trading. However, these downturns can offer opportunities for dollar-cost averaging.

加密貨幣社群敏銳地意識到狗狗幣反映比特幣價格走勢的傾向。當 BTC 試圖穩定並恢復其價值時，在 Doge 中也可以觀察到類似的模式。新的買盤壓力可能會推動價格上漲，但不能排除進一步下跌的可能性。比特幣暴跌引發的更廣泛的市場低迷影響了狗狗幣。在市場不確定時期，建議謹慎進行槓桿交易。然而，這些低迷可能為美元成本平均提供了機會。