• Dogecoin witnessed massive uptick in price after Coinbase’s recent announcement.
• Social volume around the token grew, however, sentiment declined.

Since the beginning of March, Dogecoin [DOGE] has witnessed a surge in volatility and has gone through massive corrections. However, recent developments have given Dogecoin bulls some hope.

Coinbase 最近宣布消息后，狗狗币价格大幅上涨。围绕该代币的社交量有所增长，但情绪却有所下降。自 3 月初以来，狗狗币 [DOGE] 见证了波动性激增，并经历了大规模调整。然而，最近的事态发展给狗狗币多头带来了一些希望。

High hopes

Coinbase recently revealed its intention to introduce a futures trading service for Dogecoin. This move allows individuals to safeguard against potential fluctuations in the future value of an asset through smart contracts.

寄予厚望的Coinbase 最近透露其打算推出狗狗币期货交易服务。此举允许个人通过智能合约防范资产未来价值的潜在波动。

The contracts ensure that the buying and selling of assets occur at predetermined prices on specified dates.

这些合同确保资产的买卖在指定日期以预定价格进行。

To proceed with this initiative, Coinbase has communicated its plans to the US Commodity Futures Trading Commission (CFTC) via written correspondence.

为了推进这一举措，Coinbase 已通过书面信函向美国商品期货交易委员会 (CFTC) 传达了其计划。

In these letters, the exchange outlines its strategy for launching futures contract products featuring a cash-settlement mechanism.

在这些信件中，该交易所概述了推出具有现金结算机制的期货合约产品的战略。

Coinbase emphasized to the CFTC its strong interest in DOGE, pointing out that the ongoing popularity of Dogecoin and the enthusiastic backing from its community indicate that it has progressed from its meme origins to become a significant aspect of the cryptocurrency ecosystem.

Coinbase 向 CFTC 强调了其对 DOGE 的浓厚兴趣，并指出狗狗币的持续受欢迎及其社区的热情支持表明它已经从模因起源发展成为加密货币生态系统的重要组成部分。

Due to this, the price of DOGE surged by 15.79% in the last 24 hours. If the momentum around this rally continues to grow, the price of DOGE may test the $0.1930 level and could possibly retest the the $0.200 level as well.

受此影响，DOGE的价格在过去24小时内飙升了15.79%。如果围绕此次反弹的势头继续增强，DOGE 的价格可能会测试 0.1930 美元的水平，并可能重新测试 0.200 美元的水平。

If DOGE’s price weakens the $0.200 level, a case could be made for another significant rally, with DOGE prices soaring to heights not seen since 2021.

如果 DOGE 的价格跌破 0.200 美元的水平，则可能会再次大幅上涨，DOGE 价格将飙升至 2021 年以来的最高水平。

Moreover, the Chaikin Money Flow (CMF) indicator for DOGE stood at 0.17. A CMF value of 0.17 for Dogecoin suggests that buying pressure has been relatively strong compared to selling pressure recently.

此外，DOGE 的 Chaikin 资金流向（CMF）指标为 0.17。狗狗币的 CMF 值为 0.17，表明近期的买压相对于卖压而言相对较强。

This could indicate bullish sentiment among traders and investors.

这可能表明交易者和投资者的看涨情绪。

Source: Trading View

来源：交易观点

Trouble on the social front

Along with the surge in price, the total number of DOGE traders had also grown indicating that the surge in price could be attributed to new addresses accumulating DOGE.

社会方面的麻烦随着价格的飙升，DOGE交易者的总数也随之增加，这表明价格的飙升可能归因于新地址积累的DOGE。

Moreover, the social volume around DOGE also spiked, implying that the conversations occurring around DOGE on social media platforms had grown.

此外，围绕 DOGE 的社交量也激增，这意味着社交媒体平台上围绕 DOGE 的对话有所增加。

Despite the heightened activity on social media platforms and Coinbase’s nod of approval, the weighted sentiment around DOGE remained negative.

尽管社交媒体平台上的活动有所增加，并且 Coinbase 也表示认可，但围绕 DOGE 的情绪仍然消极。

This meant that the number of negative comments around DOGE had outnumbered the positive ones. The uptick in negative sentiment around DOGE could hinder DOGE’s positive price movement.

这意味着围绕 DOGE 的负面评论数量超过了正面评论。围绕 DOGE 的负面情绪上升可能会阻碍 DOGE 的积极价格走势。

Source: Santiment

资料来源：Santiment

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