Dogecoin Suffers Price Decline, Triggering Surge in Liquidations

狗狗币价格下跌，引发清算激增

Leading meme coin Dogecoin (DOGE) has experienced a significant price decline in the past week. The drop intensified on June 17th, with DOGE plummeting to a three-month low of $0.12, leading to a spike in long liquidations, reaching $44.21 million that day. This represented the highest figure since the beginning of the year.

领先的模因币狗狗币（DOGE）在过去一周经历了大幅价格下跌。 6 月 17 日跌势加剧，DOGE 暴跌至三个月低点 0.12 美元，导致多头清算激增，当天达到 4421 万美元。这是今年以来的最高数字。

Short Traders Pay Funding Fee

空头交易者支付资金费

During this market downturn, the value of short positions liquidated was under $400,000, while long liquidations surged. Consequently, DOGE's funding rate across cryptocurrency exchanges has been predominantly negative. As of this writing, the meme coin's weighted funding rate remains negative at -0.003%.

在这次市场低迷期间，空头头寸清算价值低于 40 万美元，而多头头寸清算激增。因此，DOGE 在加密货币交易所的融资率主要为负。截至撰写本文时，meme 币的加权融资利率仍为负值 -0.003%。

Funding Rate Explained

资金费率解释

Funding rates are payments made between traders to align the market price of a futures contract with the underlying asset's spot price. A positive funding rate indicates higher demand for long positions, while a negative rate suggests more traders anticipate a price decline.

资金费率是交易者之间为了使期货合约的市场价格与标的资产的现货价格保持一致而进行的支付。正的融资利率表明多头头寸的需求增加，而负的融资利率则表明更多的交易者预计价格会下跌。

Price Prediction: Long Traders Face Challenges

价格预测：多头交易者面临挑战

Dogecoin's price has fallen below its 20-day exponential moving average (EMA) and 50-day simple moving average (SMA). This trendline breach signifies increased selling pressure and a bearish sentiment among traders.

狗狗币的价格已跌破 20 天指数移动平均线 (EMA) 和 50 天简单移动平均线 (SMA)。这种趋势线的突破意味着抛售压力增加和交易者的看跌情绪。

Elder-Ray Index Confirms Bearishness

Elder-Ray 指数确认看跌

The negative Elder-Ray Index for DOGE confirms the bearish outlook. This indicator measures buyer and seller strength, and a negative value denotes market dominance by bears. As of now, the Elder-Ray Index value for DOGE stands at -0.023.

DOGE 的负面 Elder-Ray 指数证实了看跌前景。该指标衡量买家和卖家的实力，负值表示空头占据市场主导地位。截至目前，DOGE 的 Elder-Ray 指数值为 -0.023。

Outlook

外表

If market control remains with bears and selling momentum continues, DOGE's value could potentially drop to $0.11. However, a shift towards bullish sentiment and increased buying pressure could push the coin's price towards $0.13.

如果空头继续控制市场并且抛售势头持续，DOGE 的价值可能会跌至 0.11 美元。然而，看涨情绪的转变和购买压力的增加可能会将代币的价格推向 0.13 美元。