• Bearish sentiment around Dogecoin increased in the market. 

市场上围绕狗狗币的看跌情绪有所增加。

• Most market indicators looked bearish on the meme coin.

大多数市场指标都看跌米姆币。

Dogecoin [DOGE] caught investors off guard a few days ago as its price surged by more than 10%.

几天前，狗狗币 [DOGE] 的价格飙升超过 10%，令投资者措手不及。

However, the trend did not last long, as the meme coin soon witnessed a price correction, neutralizing its weekly gains. Meanwhile, one of the blockchain’s key metrics skyrocketed.

然而，这种趋势并没有持续多久，因为模因币很快出现了价格调整，抵消了其每周的涨幅。与此同时，区块链的一项关键指标飙升。

Dogecoin loses its weekly gains

狗狗币失去了每周的涨幅

A few days ago, Elon Musk launched the official Payments account for X (formerly Twitter). This sparked excitement in the community, causing DOGE’s price to surge.

几天前，埃隆·马斯克推出了 X 的官方支付账户（以前的 Twitter）。这引发了社区的兴奋，导致 DOGE 的价格飙升。

However, AMBCrypto reported earlier that the hype around XPayments might not be enough for Dogecoin to sustain the price uptrend. That turned out to be true, as the meme coin’s price plummeted.

然而，AMBCrypto 早些时候报道称，围绕 XPayments 的炒作可能不足以让狗狗币维持价格上涨趋势。事实证明这是真的，随着模因币的价格暴跌。

According to CoinMarketCap, DOGE was down by nearly 4% in the last 24 hours alone. At the time of writing, DOGE was trading at $0.08031 with a market capitalization of over $11.4 billion.

根据 CoinMarketCap 的数据，DOGE 仅在过去 24 小时内就下跌了近 4%。截至撰写本文时，DOGE 的交易价格为 0.08031 美元，市值超过 114 亿美元。

Though the meme coin’s price action was bearish, one of its key metrics has remained high for multiple months now.

尽管迷因币的价格走势看跌，但其关键指标之一已经连续几个月保持在高位。

IntoTheBlock recently posted a tweet highlighting how Dogecoin’s number of transactions remained high compared to several other top cryptos, such as Shiba Inu [SHIB].

IntoTheBlock 最近发布了一条推文，强调与柴犬 [SHIB] 等其他几种顶级加密货币相比，狗狗币的交易数量仍然很高。

One could argue that the memecoin wars aren't about utility. Nonetheless, Dogecoin's dominance in the number of transactions is unmistakable. #Doge pic.twitter.com/kE4wW5IrmY

有人可能会争辩说，模因币战争与实用性无关。尽管如此，狗狗币在交易数量上的主导地位是毋庸置疑的。 #Doge pic.twitter.com/kE4wW5IrmY

— IntoTheBlock (@intotheblock) January 22, 2024

- IntoTheBlock (@intotheblock) 2024 年 1 月 22 日

Will network activity be enough to help DOGE recover?

网络活动足以帮助 DOGE 恢复吗？

AMBCrypto’s analysis of Dogecoin’s metrics revealed that a high transaction count might not be just enough for the meme coin to recover from its losses.

AMBCrypto 对狗狗币指标的分析表明，高交易量可能不足以让狗狗币从损失中恢复过来。

DOGE’s Social Volume remained high last week, thanks to its high price volatility.

由于价格波动较大，上周 DOGE 的社交量仍然很高。

However, bearish sentiment started to increase, which was evident from the drop in its Weighted Sentiment since the 22nd of January.

然而，看跌情绪开始增加，这从 1 月 22 日以来加权情绪的下降中可以明显看出。

Source: Santiment

资料来源：Santiment

Dogecoin’s liquidation heat map also revealed quite a few interesting points. The meme coin has a critical support level near the $0.079 mark.

狗狗币的清算热图也揭示了一些有趣的点。 Meme 币的关键支撑位位于 0.079 美元附近。

This meant that DOGE’s price might fall to that level before it manages to go up.

这意味着 DOGE 的价格可能会在上涨之前先跌至该水平。

If the price fails to test this support zone, then investors might witness a further drop in its price.

如果价格未能测试该支撑区域，那么投资者可能会看到其价格进一步下跌。

Nonetheless, considering a utopian scenario, if DOGE’s price moves upward, then it might face strong resistance near the $0.09 mark.

尽管如此，考虑到乌托邦情景，如果 DOGE 的价格上涨，那么它可能会在 0.09 美元关口附近面临强劲阻力。

Source: Hyblock Capital

来源：Hyblock 资本

To understand what to expect from Dogecoin, AMBCrypto took a look at its daily chart. Our analysis revealed that the possibility of the meme coin’s price going further down was likely.

为了了解狗狗币的预期，AMBCrypto 查看了其日线图。我们的分析表明，模因币的价格有可能进一步下跌。

Realistic or not, here’s DOGE’s market cap in BTC’s terms  

不管现实与否，这是以 BTC 计算的 DOGE 市值

Both its Money Flow Index (MFI) and Relative Strength Index (RSI) registered downticks.

其资金流量指数（MFI）和相对强弱指数（RSI）均出现下跌。

Nonetheless, the Bollinger bands pointed out that DOGE’s price was in a less volatile zone. This hinted that the meme coin’s price might reach its support level and start another rally from that zone.

尽管如此，布林带指出 DOGE 的价格处于波动较小的区域。这暗示模因币的价格可能会达到其支撑位，并从该区域开始另一次上涨。

Source: TradingView

来源：TradingView