Dogecoin’s upward momentum came to a halt when Bitcoin’s price fell below $70,000. This decline affected market sentiment, causing bullish enthusiasm to diminish, especially in the short term.

当比特币价格跌破 70,000 美元时，狗狗币的上涨势头就停止了。这种下跌影响了市场情绪，导致看涨热情减弱，尤其是在短期内。

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Additionally, trading volume for Dogecoin decreased after the first week of March, suggesting a decline in interest and excitement surrounding the meme coin. Technical analysis indicates that Dogecoin’s price may decrease towards the $0.1 mark during the current week.

此外，狗狗币的交易量在 3 月第一周后有所下降，表明人们对这种模因币的兴趣和兴奋程度有所下降。技术分析表明，狗狗币的价格本周可能会跌向 0.1 美元大关。

Dogecoin’s Rise: From Joke to Market Sensation

Since its inception, Dogecoin has played a pivotal role in shaping the meme coin landscape. However, its popularity soared when Tesla CEO Elon Musk began endorsing the coin, initially as a joke. Musk’s social media remarks about Dogecoin gradually lent it credibility, starting with his mention of it as his favorite cryptocurrency in April 2019. This endorsement led to a remarkable 70% surge in DOGE’s price, even during the depths of the bear market.

狗狗币的崛起：从笑话到市场轰动自诞生以来，狗狗币在塑造模因币格局方面发挥了关键作用。然而，当特斯拉首席执行官埃隆·马斯克(Elon Musk)最初只是开玩笑地开始认可这种硬币时，它的受欢迎程度飙升。马斯克在社交媒体上关于狗狗币的言论逐渐增强了狗狗币的可信度，从他在 2019 年 4 月提到狗狗币是他最喜欢的加密货币开始。这种认可导致狗狗币的价格大幅上涨 70%，即使是在熊市的最深处。

Musk’s continued endorsements, including referring to Dogecoin as the “people’s crypto,” fueled optimism within the Dogecoin community. His influence reached new heights when he took over Twitter in 2022, triggering a surge of over 100% in DOGE’s price. Speculations about integrating Dogecoin with Twitter further boosted its value, with rumors of DOGE becoming the official means of crypto payment. However, Musk’s silence on this front and the fleeting nature of the hype contributed to a downturn in DOGE’s price.

马斯克的持续支持，包括将狗狗币称为“人民的加密货币”，激发了狗狗币社区的乐观情绪。 2022年他接管Twitter后，他的影响力达到了新的高度，引发DOGE价格飙升超过100%。有关狗狗币与 Twitter 整合的猜测进一步推高了其价值，有传言称狗狗币将成为加密货币支付的官方手段。然而，马斯克在这方面的沉默以及炒作的短暂性质导致了 DOGE 价格的下跌。

Challenges and Dependency on Musk

Despite its popularity, Dogecoin has struggled to expand its utility beyond Musk’s endorsements. The memecoin’s over-dependence on Musk’s influence has hindered its ability to establish successful real-world use cases. As a result, DOGE’s price has lagged, highlighting the challenges it faces in sustaining long-term growth and relevance.

挑战和对马斯克的依赖尽管狗狗币很受欢迎，但它一直在努力扩大其效用，使其超出马斯克的认可。模因币对马斯克影响力的过度依赖阻碍了其建立成功的现实世界用例的能力。因此，DOGE 的价格滞后，凸显了其在维持长期增长和相关性方面面临的挑战。

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Dogecoin: From Meme to Community

Dogecoin emerged in December 2013 as a unique cryptocurrency inspired by memes, offering a lighthearted alternative to more serious digital currencies prevalent at the time. Founded by software developers Jackson Palmer and Billy Markus, the aim was to create a cryptocurrency that was more accessible and approachable than Bitcoin.

狗狗币：从迷因到社区狗狗币于 2013 年 12 月出现，是一种受迷因启发的独特加密货币，为当时流行的更严肃的数字货币提供了一种轻松的替代品。由软件开发人员杰克逊·帕尔默（Jackson Palmer）和比利·马库斯（Billy Markus）创立，其目标是创建一种比比特币更容易访问和平易近人的加密货币。

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Despite its humorous origins, Dogecoin quickly gained traction, thanks in part to its support for charitable causes such as clean water efforts and sponsorship of the Jamaican bobsled team. This blend of humor, charity, and community engagement gave Dogecoin its distinct appeal.

尽管狗狗币的起源很幽默，但它很快就获得了关注，这在一定程度上要归功于它对清洁水工作和牙买加雪橇队等慈善事业的支持。这种幽默、慈善和社区参与的结合赋予了狗狗币独特的吸引力。

Central to Dogecoin’s success is its vibrant and passionate community. Known for their humor, inclusivity, and shared desire to playfully challenge the dominance of Bitcoin, Dogecoin enthusiasts have built a strong online presence on platforms like Reddit and Twitter. Through meme sharing, idea exchange, and support for charitable initiatives, the community has fostered a sense of belonging that continues to attract new members.

狗狗币成功的核心在于其充满活力和热情的社区。狗狗币爱好者以其幽默、包容性和共同渴望有趣地挑战比特币的统治地位而闻名，他们在 Reddit 和 Twitter 等平台上建立了强大的在线影响力。通过模因分享、想法交流和对慈善活动的支持，社区培养了一种归属感，并不断吸引新成员。

This thriving community has been instrumental in Dogecoin’s sustained popularity and widespread acceptance, contributing to its remarkable growth and enduring influence in the cryptocurrency space.

这个蓬勃发展的社区对于狗狗币的持续流行和广泛接受发挥了重要作用，为其在加密货币领域的显着增长和持久影响做出了贡献。

Dogecoin’s Cosmic Venture: NTIA Clearance Boosts Value

In November, the National Telecommunications and Information Administration (NTIA) granted crucial regulatory authorization to the DOGE-funded SpaceX Doge-1 Moon Mission. This clearance marked a significant milestone for the project, paving the way for its realization.

狗狗币的宇宙冒险：NTIA 许可提升价值 11 月，国家电信和信息管理局 (NTIA) 向 DOGE 资助的 SpaceX Doge-1 月球任务授予了重要的监管授权。此次许可标志着该项目的一个重要里程碑，为其实现铺平了道路。

A few weeks later, the Federal Communications Commission also gave the green light for the DOGE-1 Moon Mission, scheduling its launch for January 12, 2024. The announcement, made by Doge Norway on social media platform X, highlighted that the mission was financed entirely with DOGE, making it the first meme cryptocurrency to venture into space.

几周后，美国联邦通信委员会也为 DOGE-1 月球任务开了绿灯，计划于 2024 年 1 月 12 日发射。挪威总督在社交媒体平台 X 上发布的这一公告强调，该任务的资金来源完全由 DOGE 提供，使其成为第一个进入太空的模因加密货币。

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The DOGE-1 satellite project, initiated by the Geometric Energy Corporation in May 2021, gained further attention when Elon Musk’s spacecraft engineering firm expressed involvement in the endeavor. Musk indicated that details of the Dogecoin-themed lunar voyage would be revealed in the first quarter of 2022.

DOGE-1 卫星项目由几何能源公司于 2021 年 5 月发起，当埃隆·马斯克的航天器工程公司表示参与该项目后，该项目获得了进一步的关注。马斯克表示，以狗狗币为主题的月球航行的细节将于 2022 年第一季度公布。

The mission’s primary objective is to deploy the DOGE-1 satellite into lunar orbit, marking the first-ever spacecraft solely sponsored by Dogecoin. Utilizing the SpaceX Falcon 9 rocket for launch, the initiative symbolizes Dogecoin’s exploration of celestial realms. Following the regulatory clearance from the NTIA, Dogecoin experienced a notable increase in value, reflecting investor optimism surrounding its cosmic aspirations.

该任务的主要目标是将 DOGE-1 卫星部署到月球轨道，这标志着有史以来第一艘由狗狗币完全赞助的航天器。利用 SpaceX 猎鹰 9 号火箭进行发射，这一举措象征着狗狗币对天体领域的探索。在获得 NTIA 监管许可后，狗狗币的价值显着上涨，反映出投资者对其宇宙抱负的乐观态度。

Dogecoin’s Price Analysis: Recent Corrections and Potential Reversal

The one-day chart revealed a notable uptrend in late February, encountering resistance near the $0.2 mark. Since then, Dogecoin (DOGE) has experienced a decline of over 30% from its local swing high at $0.206, occurring within a span of less than two weeks.

狗狗币的价格分析：近期修正和潜在逆转单日图表显示 2 月底出现显着的上升趋势，在 0.2 美元关口附近遇到阻力。此后，狗狗币 (DOGE) 在不到两周的时间内从当地波动高点 0.206 美元下跌了 30% 以上。

Source: DOGE/USDT on TradingView

来源：TradingView 上的 DOGE/USDT

On March 14th, the $0.194 resistance level underwent a retest, following which DOGE witnessed a further decline of 26% at the time of writing, driven by bearish momentum.

3 月 14 日，DOGE 再次测试 0.194 美元阻力位，随后在看跌势头的推动下，DOGE 在撰写本文时进一步下跌 26%。

Analysis using Fibonacci retracement levels suggested potential price targets of $0.129 or $0.108, representing the 61.8% and 78.6% retracement levels, respectively. Despite the bearish price action, the market structure on the daily chart remained bullish, albeit with neutral momentum.

使用斐波那契回撤水平的分析表明，潜在的价格目标为 0.129 美元或 0.108 美元，分别代表 61.8% 和 78.6% 的回撤水平。尽管价格走势看跌，但日线图上的市场结构仍然看涨，尽管势头呈中性。

The Relative Strength Index (RSI) indicated a reading of 51, signaling recent downward pressure. However, the On-Balance Volume (OBV) displayed a continuous uptrend, suggesting that the selling volume remained relatively low despite the significant price correction.

相对强弱指数 (RSI) 读数为 51，表明近期存在下行压力。然而，平衡成交量（OBV）显示出持续上升趋势，表明尽管价格大幅调整，但成交量仍相对较低。

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The implication of these metrics is that DOGE could potentially resume its upward trajectory with renewed vigor once market sentiment begins to shift towards a bullish outlook.

这些指标的含义是，一旦市场情绪开始转向看涨前景，DOGE 可能会以新的活力恢复其上升轨迹。

Dogecoin’s Open Interest and Sentiment Analysis: Recent Declines

Dogecoin (DOGE) has witnessed a significant decline in Open Interest (OI) over the past few days. On March 14th, OI peaked at $489 million, but as of March 17th, it has dropped to $334 million. This decline in OI, coupled with falling prices, indicates a bearish sentiment prevailing in the short term.

狗狗币的未平仓合约和情绪分析：最近的下跌过去几天狗狗币（DOGE）的未平仓合约（OI）大幅下降。 3 月 14 日，OI 达到峰值 4.89 亿美元，但截至 3 月 17 日，已降至 3.34 亿美元。持仓量下降，加上价格下跌，表明短期内普遍存在看跌情绪。

Source: Santiment

来源：Santiment

Moreover, the MVRV (Market Value to Realized Value) indicator experienced a decline after reaching levels not seen since May 2021. While this drop in MVRV suggests profit-taking activity among holders, it’s important to note that holders are still in a profitable position overall.

此外，MVRV（市场价值与已实现价值）指标在达到 2021 年 5 月以来的最高水平后出现下降。虽然 MVRV 的下降表明持有人的获利了结活动，但值得注意的是，持有人总体上仍处于盈利状态。

Additionally, the weighted sentiment, which had been predominantly bullish during the rally, has started to trend towards neutral territory over the past week. This shift in sentiment reflects a potential change in market sentiment from bullish to more neutral.

此外，在上涨期间主要看涨的加权情绪在过去一周已开始趋向中性区域。这种情绪的转变反映出市场情绪可能从看涨转向中性。

Despite these recent developments, the meme coin category, including Dogecoin, has demonstrated remarkable performance over the past month, even amidst the recent pullback.

尽管最近有这些发展，包括狗狗币在内的模因币类别在过去一个月中表现出了出色的表现，即使在最近的回调中也是如此。

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

重要提示：请注意，本文仅旨在提供信息，不应被视为法律、税务、投资、财务或任何其他类型的建议。