Experienced crypto analyst Nicholas Merten warned that the correction of Dogecoin (DOGE), the favorite memecoin of crypto investors, against Bitcoin (BTC) (DOGE/BTC) is likely to continue and said that the decline will persist.

经验丰富的加密货币分析师 Nicholas Merten 警告称，加密货币投资者最喜欢的 memecoin 狗狗币 (DOGE) 相对于比特币 (BTC) (DOGE/BTC) 的修正可能会继续，并表示下跌将持续下去。

Continued Decline Against Bitcoin

比特币持续下跌

Merten, in his latest video update, stated that the graph of the monthly time frame DOGE/BTC trading pair continues to show weakness, and he expects Dogecoin to remain in a downtrend against Bitcoin for a while:

Merten 在最新的视频更新中表示，DOGE/BTC 交易对的月度图表继续显示疲软，他预计狗狗币相对于比特币将在一段时间内保持下跌趋势：

I believe that in the future, things will move upward and then sideways, but I don’t think it will happen yet. I must point out that if this is a new support and after seeing a 22% increase in a single monthly candle, starting to give back this gain over three months is not a sign of a bull market.

我相信未来事情会先向上，然后横向发展，但我认为这还不会发生。我必须指出，如果这是一个新的支撑位，并且在看到单月蜡烛上涨 22% 后，在三个月内开始回吐这一涨幅，并不是牛市的迹象。

In order for us to say that Dogecoin is in a bull market, we need to see large percentage increases like 600% or 542%. In more moderate months, these rates are at lower levels like 80%, 30%, 209%. We have witnessed increases of 72%, 79%, and 114% in a single month. I am waiting for these types of increases to see a bull market in DOGE.

为了让我们说狗狗币处于牛市，我们需要看到大幅增长，例如 600% 或 542%。在较为温和的月份，这些比率处于较低水平，如 80%、30%、209%。我们见证了单月增长 72%、79% 和 114%。我正在等待这些类型的上涨，以看到 DOGE 的牛市。

“DOGE/BTC Can Recover If It Does What It Did in June 2022 and October 2022”

“如果 DOGE/BTC 能像 2022 年 6 月和 2022 年 10 月那样，它就能恢复”

Merten stated that Dogecoin can be subjected to a serious evaluation only if it starts to repeat the price movements similar to June 2022 and October 2022:

Merten 表示，只有当狗狗币开始重复类似于 2022 年 6 月和 2022 年 10 月的价格走势时，才可以对其进行认真的评估：

I’m not very interested in the current trend. In June 2022, buyers made a 23% increase and then a big 94% increase followed. I understand that some factors like Elon Musk mentioning the use of DOGE in payments above X had an effect on this increase.

我对现在的趋势不太感兴趣。 2022 年 6 月，买家数量增加了 23%，随后又大幅增加了 94%。据我所知，一些因素（例如埃隆·马斯克提到在 X 以上的支付中使用 DOGE）对这一增长产生了影响。

The current story is not very important. What matters is the price movement because regardless of these stories, if the price no longer reflects this story and continues to move downward consistently, if buyers do not come, it means it will probably continue to fall further.

目前的故事并不是很重要。重要的是价格走势，因为无论这些故事如何，如果价格不再反映这个故事并继续持续下跌，如果买家不来，这意味着价格可能会继续进一步下跌。

This is a rolling effect caused by decreasing expectations. People slowly realize that they are overexposed, they understand that the likelihood of the decline continuing is high, and assets start to move only when buyers really start to put pressure on the market.

这是由于期望降低而导致的滚动效应。人们慢慢意识到自己暴露过度，他们明白持续下跌的可能性很高，只有当买家真正开始向市场施加压力时，资产才开始移动。

继续阅读：https://en.coin-turk.com/dogecoins-decline-against-bitcoin-is-expected-to-continue-warns-analyst/