The throne of Dogecoin (DOGE), the King of meme coins, seems to have shaken up. The DOGE price has been slumping unprecedentedly in recent months. Spotlighting the reasons for Dogecoin price dip, a crypto analyst underscored that the hype around this meme crypto might be dying.

狗狗币（DOGE）这个模因币之王的宝座似乎动摇了。近几个月来，DOGE 价格出现了前所未有的下跌。一位加密货币分析师在指出狗狗币价格下跌的原因时强调，围绕这种模因加密货币的炒作可能正在消亡。

Why Is Dogecoin Price Dropping?

为什么狗狗币价格下跌？

Crypto analyst Ali Martinez has noted a concerning trend for Dogecoin as transaction volume and whale transaction count decrease. These metrics, indicative of lower trading activity, suggest a potential decline in interest or confidence in the meme crypto. With fewer individuals engaging in buying, selling, or transferring DOGE, its market dynamics appear to be shifting.

加密货币分析师阿里·马丁内斯（Ali Martinez）注意到，随着交易量和鲸鱼交易数量的减少，狗狗币出现了令人担忧的趋势。这些指标表明交易活动减少，表明人们对模因加密货币的兴趣或信心可能下降。随着参与购买、出售或转让 DOGE 的人数减少，其市场动态似乎正在发生变化。

狗狗币交易量和鲸鱼交易数下降，来源：阿里图表 | X

The above-mentioned observation aligns with the current slump in Dogecoin’s price, reflecting investor sentiment and caution in the crypto market. The DOGE price has dropped below $0.080 despite the recent rebound over the $0.082 level.

上述观察结果与当前狗狗币价格的暴跌相符，反映了投资者的情绪和对加密货币市场的谨慎态度。尽管最近反弹至 0.082 美元水平，但 DOGE 价格已跌破 0.080 美元。

According to Into The Block statistics, the Dogecoin whale transactions volume in the last 24 hours is $630.13 million. It represents more than a 50% decline from the volume of $1.38 billion recorded on January 10, 2024. Moreover, the daily trading volume for Dogecoin dropped massively to $286.87 million from $778 million a month ago.

据Into The Block统计，最近24小时狗狗币鲸鱼交易额为6.3013亿美元。与 2024 年 1 月 10 日记录的 13.8 亿美元交易量相比，下降了 50% 以上。此外，狗狗币的日交易量从一个月前的 7.78 亿美元大幅下降至 2.8687 亿美元。

Also Read: DeeStream (DST): Could This Leap Forward for Streamers Leave Dogecoin (DOGE) and Uniswap (UNI) Holders Behind?

另请阅读：DeeStream (DST)：流媒体的这一飞跃能否将狗狗币 (DOGE) 和 Uniswap (UNI) 持有者抛在后面？

DOGE Price Slumps Below $0.08

DOGE 价格跌破 0.08 美元

As of writing, the Dogecoin price was down by 3.26% to $0.0799 on Monday, February 12, 2024. Whilst, the meme coins boasted a market cap of $11.42 billion, down by 3.50%. In contrast, though the daily trade volume for DOGE is following a downtrend, it saw a 7.38% increase to $286 million in the last 24 hours.

截至撰写本文时，狗狗币价格于 2024 年 2 月 12 日星期一下跌 3.26%，至 0.0799 美元。与此同时，迷因币的市值为 114.2 亿美元，下跌 3.50%。相比之下，DOGE 的日交易量虽然呈下降趋势，但在过去 24 小时内增长了 7.38% 至 2.86 亿美元。

Amid the price drop, the Dogecoin open interest also slumped significantly as derivatives traders pulled their money out. According to Coinglass data, the DOGE open interest dropped 3.77% to $474.31 million at press time. In addition, massive liquidations were noted for DOGE today.

在价格下跌的同时，由于衍生品交易商撤资，狗狗币的未平仓合约也大幅下降。根据 Coinglass 数据，截至发稿时，DOGE 未平仓合约下跌 3.77%，至 4.7431 亿美元。此外，今日 DOGE 出现大规模清算。

In the past 24 hours, $1.09 million of Dogecoin liquidations were registered. Almost the entire liquidation concerned the long positions while only $195 worth of short positions were exited. This suggests that long-term DOGE holders are on a selling spree to minimize their losses as the price slumps, thereby catalyzing a further drop in value.

在过去 24 小时内，狗狗币清算额达到 109 万美元。几乎全部清算都涉及多头头寸，而只有价值 195 美元的空头头寸被平仓。这表明，随着价格下跌，DOGE 的长期持有者正在疯狂抛售，以尽量减少损失，从而催化价值进一步下跌。

Also Read: Meme Coin Price Prediction: Future of Meme Coins Analyzed

另请阅读：Meme 币价格预测：Meme 币的未来分析

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