Dogecoin's active addresses surged 400% to nearly 395,000, yet its price has steadily declined since mid-December. Despite network activity spikes in January and March, these rallies were short-lived, hampered by significant selling pressure. This heightened activity, unfortunately, hasn't translated into price recovery, with weak demand keeping Dogecoin in a consistent downtrend.

Dogecoin的活跃地址飙升了400％，至近395,000，但自12月中旬以来，其价格稳步下降。 尽管在一月和三月进行了网络活动峰值，但这些集会还是短暂的，受到巨大销售压力的阻碍。 不幸的是，这种增加的活动尚未转化为价格恢复，需求较弱，使狗狗币保持一致的下降趋势。

Increased On-Chain Activity Amidst Price Decline

在价格下降的链上活动增加

Analyst Ali Martinez reported a 400% increase in Dogecoin's active addresses, reaching approximately 395,000. However, the price has remained bearish since mid-December. While January and March saw price increases coinciding with higher network activity, these gains proved unsustainable.

分析师阿里·马丁内斯（Ali Martinez）报告说，多霉素的活动地址增加了400％，约为395,000。 但是，自12月中旬以来，价格一直保持看跌。 一月和三月的价格与更高的网络活动相吻合，但这些收益证明是不可持续的。

Source: Ali Martinez

资料来源：阿里·马丁内斯（Ali Martinez）

Martinez noted that Dogecoin has consistently formed lower highs and lower lows, a clear indication of bearish market sentiment. Brief price spikes occurred in mid-January and late January, but substantial selling pressure quickly reversed these gains. By March, Dogecoin traded around $0.171, highlighting the lack of significant buying pressure.

马丁内斯指出，狗狗币始终形成较低的高点和较低的低点，这清楚地表明了看跌市场情绪。 1月中旬和1月下旬发生了短暂的价格峰值，但巨大的销售压力迅速扭转了这些收益。到3月，Dogecoin的交易额约为0.171美元，强调了缺乏明显的购买压力。

Despite the substantial increase in network engagement, Martinez emphasizes that demand remains insufficient to support a price recovery. Simply increasing participation isn't enough to trigger an uptrend; sustained buying pressure is crucial.

尽管网络参与大幅增加，但马丁内斯强调，需求仍然不足以支持价格恢复。 简单地增加参与不足以触发上升趋势；持续的购买压力至关重要。

Market Uncertainty and Future Outlook

市场不确定性和未来前景

The disconnect between Dogecoin's network activity and price action is striking. Increased participation hasn't resulted in a meaningful price reversal. Daily active addresses remained relatively stable, with notable spikes in early January and March – indicating temporary interest but lacking the momentum for a sustained breakout.

Dogecoin的网络活动与价格动作之间的断开连接令人震惊。 参与的增加并没有导致有意义的价格逆转。 每日活跃的地址仍然相对稳定，在1月初和3月初，尖峰表明 - 表明暂时的兴趣，但缺乏持续突破的势头。

By March, the downward price trend persisted despite the heightened on-chain activity. Martinez concludes that Dogecoin remains in a bearish phase, with no clear signs of imminent recovery. While network participation has grown, market conditions remain uncertain.

到3月，尽管链活动增加了，但价格趋势仍然存在。 马丁内斯（Martinez）得出结论，狗狗币仍处于看跌阶段，没有明显的即将恢复的迹象。 尽管网络参与度已经增长，但市场状况仍然不确定。

Dogecoin's future price trajectory hinges on whether buying pressure strengthens sufficiently to trigger a breakout. Martinez's analysis suggests that traders should closely monitor network activity and key support levels.

Dogecoin的未来价格轨迹取决于购买压力是否足够增强以引发突破。 马丁内斯的分析表明，交易者应密切监视网络活动和关键支持水平。