Dogecoin [DOGE] was forced to halt its uptrend after Bitcoin’s [BTC] prices toppled below the $70k level. This event also caused bullish conviction to evaporate across the market, at least in the short term.

在比特币 [BTC] 价格跌破 7 万美元水平后，狗狗币 [DOGE] 被迫停止上涨趋势。这一事件还导致整个市场的看涨信念消失，至少在短期内如此。

The trading volume has dropped after the first week of March, indicating reduced fervor behind the meme coin. Technical analysis showed that DOGE could drop toward the $0.1 mark this week.

3 月第一周后，交易量有所下降，表明人们对 meme 币的热情有所下降。技术分析显示，DOGE 本周可能跌向 0.1 美元大关。

Yet, its long-term trajectory was bullish. Ali, a popular crypto analyst, posted on X (formerly Twitter) that the recent rally was indicative of a move to $1.

然而，其长期轨迹是看涨的。受欢迎的加密货币分析师 Ali 在 X（以前称为 Twitter）上发帖称，最近的反弹表明价格将升至 1 美元。

Over-dependence on Musk

The advent of Dogecoin was crucial in preparing the ground for the present expansion of the memecoin arena. The cryptocurrency’s popularity truly took off when Tesla CEO Elon Musk started endorsing the coin.

过度依赖马斯克狗狗币的出现对于为模因币领域目前的扩张奠定基础至关重要。当特斯拉首席执行官埃隆·马斯克开始认可这种加密货币时，这种加密货币才真正开始流行。

Musk joined the Dogecoin bandwagon in 2019, primarily as a joke. However, over many months, his social media remarks about Dogecoin lent it more and more credibility.

马斯克于 2019 年加入狗狗币潮流，主要是为了开玩笑。然而，几个月来，他在社交媒体上关于狗狗币的言论使其越来越可信。

His earliest mention of Dogecoin came on X (formerly Twitter) in April 2019, when he called it “my fav cryptocurrency.”

他最早提到狗狗币是在 2019 年 4 月的 X（以前的 Twitter）上，当时他称其为“我最喜欢的加密货币”。

DOGE increased by more than 70% immediately following Musk’s disclosure. What was intriguing was that this occurred amid the pinnacle of the bear market.

马斯克披露后，DOGE 立即上涨了 70% 以上。有趣的是，这发生在熊市的顶峰时期。

Since then, the tech mogul has publicly endorsed the memecoin multiple times. He even referred to it as the “people’s crypto” on one occasion, highlighting its widespread use among his company’s blue-collar workers.

从那时起，这位科技大亨多次公开认可模因币。他甚至有一次将其称为“人民的加密货币”，强调了它在公司蓝领工人中的广泛使用。

Aside from the brief price increases, the Dogecoin community saw a level of optimism never seen before as a consequence of an endorsement by one of the richest people in the world.

除了短暂的价格上涨之外，由于世界上最富有的人之一的认可，狗狗币社区出现了前所未有的乐观情绪。

And when Musk took over Twitter in the autumn of 2022, the excitement reached new heights.

当马斯克在 2022 年秋天接管 Twitter 时，人们的兴奋达到了新的高度。

Elon Musk’s purchase of Twitter marked an iconic moment. As a result of Musk’s announcement, the price of Dogecoin appreciated by more than 100%.

埃隆·马斯克 (Elon Musk) 收购 Twitter 标志着一个标志性时刻。由于马斯克的声明，狗狗币的价格上涨了 100% 以上。

Since Musk-Twitter’s takeover, there have been speculations about incorporating and integrating Dogecoin with X.

自从马斯克-Twitter 接管以来，一直有关于将狗狗币与 X 合并和整合的猜测。

The rumors about DOGE being the official means of crypto payment began to grow. Within a week, the meme coin’s value had more than doubled.

关于 DOGE 成为加密货币支付官方手段的传言开始增多。一周之内，模因币的价值增加了​​一倍多。

However, it’s been months since and Musk has not made any updates on this front yet. Also, this hype didn’t last long.

然而，几个月过去了，马斯克还没有在这方面做出任何更新。而且，这种炒作并没有持续多久。

Due to its over-dependence on Elon Musk, DOGE has not been able to expand its repertory of successful real-world use cases. This caused the memecoin’s price to lag earlier in the year.

由于过度依赖埃隆·马斯克，DOGE 无法扩大其成功的现实用例库。这导致模因币的价格在今年早些时候滞后。

A thriving community

Dogecoin was founded in December 2013 as a cryptocurrency based on memes. The introduction of serious digital currencies at the time encouraged the development of this amusing alternative.

蓬勃发展的社区狗狗币成立于 2013 年 12 月，是一种基于模因的加密货币。当时严肃的数字货币的引入鼓励了这种有趣的替代方案的发展。

Jackson Palmer and Billy Markus, two software developers, co-founded the project to create Dogecoin as a more accessible cryptocurrency than Bitcoin.

两位软件开发人员杰克逊·帕尔默（Jackson Palmer）和比利·马库斯（Billy Markus）共同创立了该项目，旨在将狗狗币创建为比比特币更容易使用的加密货币。

In addition to its support for clean water efforts and the Jamaican sledge team, the currency quickly gained a following. Despite its amusing origins, Dogecoin developed a particular charm by incorporating charity, community spirit, and internet culture.

除了对清洁水工作和牙买加雪橇队的支持之外，该货币很快就赢得了追随者。尽管狗狗币的起源很有趣，但它通过融合慈善、社区精神和互联网文化而发展出独特的魅力。

The reason for Dogecoin’s phenomenal growth is its robust and passionate community. This group is well-known for its wit, inclusivity, and common ambition of mocking the significance of Bitcoin.

狗狗币惊人增长的原因在于其强大而充满热情的社区。这个团体以其智慧、包容性和嘲笑比特币重要性的共同野心而闻名。

On social media platforms like Reddit and Twitter, fans built a sense of community by sharing memes, providing suggestions, and endorsing charitable organizations. This gesture attracted new members.

在 Reddit 和 Twitter 等社交媒体平台上，粉丝通过分享表情包、提供建议和支持慈善组织来建立社区意识。这一举动吸引了新成员。

This thriving community contributed to Dogecoin’s continued popularity and global acceptance.

这个蓬勃发展的社区为狗狗币的持续流行和全球接受做出了贡献。

Green light for DOGE-1

In November, the National Telecommunications and Information Administration (NTIA) granted crucial regulatory authorization to the DOGE-funded SpaceX Doge-1 Moon Mission.

DOGE-1 获得批准 11 月，美国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。

A few weeks ago, the Federal Communications Commission authorized the DOGE-1 Moon Mission for launch on the 12th of January 2024. The announcement was made by Doge Norway on X.

几周前，美国联邦通信委员会授权 DOGE-1 月球任务于 2024 年 1 月 12 日发射。该消息由 Doge Croatia 于 X 日宣布。

He went on to say that the expedition was paid for in DOGE and that it is the first meme crypto in space.

他接着说，这次探险是用 DOGE 支付的，这是太空中的第一个模因加密货币。

The DOGE-1 satellite project was unveiled by the Geometric Energy Corporation, a space technology corporation, in May 2021.

DOGE-1 卫星项目由空间技术公司几何能源公司于 2021 年 5 月揭晓。

Elon Musk stated that his spacecraft engineering firm will disclose the Dogecoin-themed voyage to the moon in the first quarter of 2022.

埃隆·马斯克表示，他的航天器工程公司将在 2022 年第一季度披露以狗狗币为主题的月球航行。

The mission aims to launch the DOGE-1 satellite into lunar orbit, becoming the first spacecraft entirely sponsored by Dogecoin. The SpaceX Falcon 9 rocket will be used to launch DOGE-1 into space, demonstrating Dogecoin’s foray into cosmic realms.

该任务旨在将 DOGE-1 卫星发射到月球轨道，成为第一颗完全由狗狗币赞助的航天器。 SpaceX 猎鹰 9 号火箭将用于将 DOGE-1 发射到太空，展示狗狗币进军宇宙领域的步伐。

Following the (NTIA) clearance, Dogecoin’s value hiked significantly.

在获得 (NTIA) 批准后，狗狗币的价值大幅上涨。

Technical analysis of Dogecoin

Source: DOGE/USDT on TradingView

狗狗币技术分析来源：TradingView 上的 DOGE/USDT

The one-day chart showed that the strong uptrend seen in late February stalled near the $0.2 resistance. Measured from the local swing high at $0.206, DOGE has shed just over 30% in value in less than two weeks.

一日图显示，2 月底的强劲上升趋势在 0.2 美元阻力位附近陷入停滞。从当地波动高点 0.206 美元开始计算，DOGE 的价值在不到两周的时间内下跌了 30% 以上。

The $0.194 resistance was retested on the 14th of March. Thereafter, DOGE bears forced prices lower by 26% and counting at press time.

3 月 14 日重新测试 0.194 美元阻力位。此后，DOGE 空头迫使价格下跌 26%（截至发稿时仍在计算）。

The Fibonacci retracement levels showed that a drop to $0.129 or $0.108 was still likely. These were the 61.8% and 78.6% retracement levels, respectively.

斐波那契回撤水平表明仍有可能跌至 0.129 美元或 0.108 美元。这些分别是 61.8% 和 78.6% 的回撤水平。

While the market structure on the daily chart was bullish, the momentum was neutral.

虽然日线图上的市场结构看涨，但势头是中性的。

The RSI showed a reading of 51 to reflect the recent downward pressure. On the other hand, the OBV hardly halted its uptrend. This suggested that despite the large price correction, the selling volume was not high.

RSI 读数为 51，反映近期的下行压力。另一方面，OBV 几乎没有停止其上升趋势。这表明尽管价格大幅调整，但销量并不高。

The inference was that DOGE could resume its rally with renewed strength once the market sentiment begins to shift bullishly.

由此推断，一旦市场情绪开始转为看涨，DOGE 可能会以新的力量恢复涨势。

Speculators chose to stay sidelined as the uptrend was interrupted

Source: Santiment

由于上升趋势被中断，投机者选择离场观望来源：Santiment

DOGE’s Open Interest has fallen dramatically in the past few days. On the 14th of March, it reached $489 million. At press time on the 17th of March, it stood at $334 million.

过去几天，DOGE 的未平仓合约急剧下降。 3 月 14 日，这一数字达到 4.89 亿美元。截至 3 月 17 日发稿时，该数字为 3.34 亿美元。

The decline in OI alongside the prices highlighted bearish sentiment in the short term.

持仓量与价格一起下跌凸显了短期内的看跌情绪。

The MVRV also took a hit after reaching highs not seen since May 2021. The drop in MVRV showed profit-taking activity, but holders were still at a profit.

MVRV 在达到 2021 年 5 月以来的最高点后也受到打击。MVRV 的下跌表明了获利了结活动，但持有者仍然获利。

The weighted sentiment had been firmly bullish during the rally. Over the past week, it fell toward the neutral territory.

在反弹期间，加权情绪一直坚定看涨。过去一周，它跌向中性区域。

Conclusion

The meme coin category has performed remarkably well over the past month, even after accounting for the recent pullback.

结论即使考虑到最近的回调，迷因币类别在过去一个月的表现也非常出色。

How much are 1,10,100 DOGEs worth today?

今天 1,10,100 DOGE 值多少钱？

When Bitcoin began to trend upward again, it was likely that the meme coins and DOGE would follow.

当比特币再次开始上涨时，模因币和 DOGE 很可能会跟随。

Therefore, investors could assess the markets more closely to find buying opportunities for Dogecoin or other meme coins over the next few weeks.

因此，投资者可以更仔细地评估市场，以寻找未来几周购买狗狗币或其他模因币的机会。

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.

免责声明：所提供的信息不构成金融、投资、交易或其他类型的建议，仅代表作者的意见。

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