Key Dogecoin (DOGE) on-chain metrics recently turned bullish, suggesting that the foremost meme coin is well primed for a significant move to the upside. However, that hasn’t been the case, as Dogecoin’s price has declined lately. 

狗狗币（DOGE）的关键链上指标最近转为看涨，这表明最重要的模因代币已经做好了大幅上涨的准备。然而，情况并非如此，因为狗狗币的价格最近有所下降。

Dogecoin On-Chain Metrics Are Bullish 

Data from the market intelligence platform IntoTheBlock shows that 83% of Dogecoin holders are currently in profit at its current price level. Despite that, these investors have opted against offloading their tokens but have chosen to hold in anticipation of further price gains. This bullish mindset among these investors is evident from further data from IntoTheBlock, which shows that 65% of Dogecoin holders have held the token for over a year. 

狗狗币链上指标看涨市场情报平台 IntoTheBlock 的数据显示，83% 的狗狗币持有者目前在当前价格水平上实现盈利。尽管如此，这些投资者还是选择不抛售代币，而是选择持有，以期价格进一步上涨。 IntoTheBlock 的进一步数据显示了这些投资者的看涨心态，该数据显示 65% 的狗狗币持有者持有该代币超过一年。

Instead of selling, more Dogecoin investors are even moving their holdings to self-custodial wallets for long-term safekeeping. On-chain data shows that more DOGE tokens have been taken off exchanges than deposited into them. Specifically, a particular whale transferred 150 million DOGE tokens ($23.3 million) from Robinhood to an unknown wallet. 

相关阅读：柴犬燃烧率在飙升 18,000% 后暴跌 99%，发生了什么？更多狗狗币投资者没有出售，而是将其持有的资产转移到自我托管钱包中以进行长期保管。链上数据显示，从交易所取出的 DOGE 代币多于存入交易所的 DOGE 代币。具体来说，某头鲸鱼将 1.5 亿 DOGE 代币（2330 万美元）从 Robinhood 转移到了一个未知的钱包。

Certain developments also add to Dogecoin’s bullish outlook. DOGE Day is set to take place on April 20, and crypto analyst Myles G predicts that the meme coin could experience a bullish resurgence on that day, rising to as high as $0.26. 

某些事态发展也增强了狗狗币的看涨前景。 DOGE Day 定于 4 月 20 日举行，加密货币分析师 Myles G 预测，这一 Meme 代币可能会在当天经历看涨复苏，最高升至 0.26 美元。

The Bitcoin Halving is also set to take place around that time, undoubtedly adding to Dogecoin’s bullish narrative. Meanwhile, Coinbase will launch Dogecoin futures on April 29 for its institutional clients, a move that will generate more interest in the meme coin. Given such developments, it is not out of place to wonder why DOGE’s price has maintained an unimpressive performance. 

比特币减半也将在那个时候发生，这无疑增加了狗狗币的看涨叙事。与此同时，Coinbase 将于 4 月 29 日为其机构客户推出狗狗币期货，此举将引发人们对这种模因币的更多兴趣。鉴于这样的发展，我们不难理解为什么 DOGE 的价格一直表现不佳。

Why DOGE’s Price Is Down

Currently, Dogecoin’s price looks to be reacting to the general bearish sentiment in the broader crypto market. As of April 12, the meme coin’s price was still enjoying a significant move to the upside as it looked to break the $0.20 resistance level. However, its price quickly came crashing down following a wave of sell-offs in the crypto market, which was partly triggered by Iran’s attack on Israel.  

为什么狗狗币的价格下跌目前，狗狗币的价格似乎是对更广泛的加密货币市场普遍看跌情绪的反应。截至 4 月 12 日，Meme 币的价格仍在大幅上涨，因为它似乎突破了 0.20 美元的阻力位。然而，在加密货币市场出现一波抛售浪潮后，其价格迅速暴跌，部分原因是伊朗对以色列的袭击引发的。

Since then, Dogecoin and other crypto tokens have maintained this downward trend as crypto investors wait on the sidelines to see whether Israel will retaliate against Iran. The market is expected to pick up if Israel decides against heightening the regional conflict. However, things could get worse if Israel chooses violence and decides to escalate things. 

相关阅读：纹波与波动SEC 更新：专家称双方已达成和解协议 自此之后，狗狗币和其他加密代币一直保持着下跌趋势，因为加密投资者在观望以色列是否会对伊朗进行报复。如果以色列决定不加剧地区冲突，预计市场将会回升。然而，如果以色列选择暴力并决定使事态升级，事情可能会变得更糟。

At the time of writing, DOGE is trading at around $0.15, down over 5% in the last 24 hours, according to data from CoinMarketCap. 

根据 CoinMarketCap 的数据，截至撰写本文时，DOGE 的交易价格约为 0.15 美元，在过去 24 小时内下跌了 5% 以上。

DOGE struggles to recover | Source: DOGEUSDT on Tradingview.com

DOGE 努力康复 |资料来源：Tradingview.com 上的 DOGEUSDT 精选图片来自雅虎财经，图表来自 Tradingview.com