Dogecoin Experiences Significant Price Drop

狗狗币价格大幅下跌

Dogecoin experienced a notable price decline of 5% on May 28, reaching an intraday low of $0.16192. This drop surpassed the broader crypto market's decline of approximately 1.47% during the same period. The decline in DOGE follows Bitcoin's 3.2% drop in the preceding 24 hours. Despite recent gains, with an increase of over 7.5% in the last 30 days, DOGE has now fallen.

狗狗币 5 月 28 日价格显着下跌 5%，盘中低点为 0.16192 美元。这一跌幅超过了同期加密货币市场约 1.47% 的跌幅。 DOGE 下跌之前，比特币在过去 24 小时内下跌了 3.2%。尽管近期有所上涨，过去 30 天涨幅超过 7.5%，但 DOGE 现在已经下跌。

Causes of Dogecoin's Price Drop

狗狗币价格下跌的原因

Dogecoin's price began to decline between May 22 and May 26, and it now trades 2.5% below its value from a week ago. According to Coinglass, a blockchain data analysis platform, this decline coincides with a substantial 37% drop in open interest (OI) in futures contracts, decreasing from $1.67 billion in mid-April to $1.04 billion.

狗狗币的价格在 5 月 22 日至 5 月 26 日期间开始下跌，目前交易价格较一周前下跌 2.5%。根据区块链数据分析平台 Coinglass 的数据，这一下降恰逢期货合约未平仓合约大幅下降 37%，从 4 月中旬的 16.7 亿美元降至 10.4 亿美元。

Furthermore, Dogecoin perpetual futures contracts' funding rate has decreased from 0.0243% on May 23 to 0.0118% on May 28. Declining funding rates and OI indicate bearish sentiment among investors, potentially amplifying selling pressure on DOGE.

此外，狗狗币永续期货合约的资金费率已从5月23日的0.0243%下降至5月28日的0.0118%。资金费率和OI的下降表明投资者的看跌情绪，可能会放大DOGE的抛售压力。

Future Outlook for Dogecoin

狗狗币的未来展望

The recent market-wide correction, resulting in millions of dollars liquidated, has also impacted DOGE, driving its price down to $0.1512. Notably, whale activity, characterized by large transactions of $100,000 or more in DOGE, has increased. IntoTheBlock reports that transactions between $100,000 and $1 million surged by over 28% last week, while transactions exceeding $1 million rose by more than 55% in the last 30 days. This surge suggests that institutional investors are cashing out profits, contributing to the ongoing correction.

最近的市场调整导致数百万美元被清算，也对 DOGE 产生了影响，导致其价格跌至 0.1512 美元。值得注意的是，以 DOGE 100,000 美元或以上的大额交易为特征的鲸鱼活动有所增加。 IntoTheBlock 报告称，上周 10 万美元至 100 万美元之间的交易量激增了 28% 以上，而过去 30 天内超过 100 万美元的交易量增长了 55% 以上。这种飙升表明机构投资者正在兑现利润，从而促成了持续的调整。

The recent price drop in DOGE aligns with a bearish divergence between its price and the relative strength index (RSI) on the weekly timeframe. Despite DOGE's price reaching higher highs from April 15 to May 28, the daily RSI recorded lower levels, indicating a weakening uptrend and encouraging traders to secure profits.

DOGE 最近的价格下跌与其价格和每周时间范围内的相对强弱指数 (RSI) 之间的看跌背离相符。尽管DOGE的价格在4月15日至5月28日期间达到更高的高点，但每日RSI录得较低水平，表明上升趋势减弱并鼓励交易者获取利润。

IntoTheBlock's IOMAP model reveals support for DOGE at the $0.165 region and resistance in the $0.163 to $0.168 range. Approximately 97,980 addresses acquired around 7.03 billion DOGE within this range. Increased selling at this level could amplify downward pressure, potentially leading to a further price decline. The 50-day simple moving average at $0.10 represents the next significant support level.

IntoTheBlock 的 IOMAP 模型显示 DOGE 的支撑位在 0.165 美元区域，阻力位在 0.163 美元至 0.168 美元范围内。在此范围内，大约 97,980 个地址获得了约 70.3 亿个 DOGE。此水平上的抛售增加可能会放大下行压力，可能导致价格进一步下跌。 0.10 美元的 50 天简单移动平均线代表下一个重要支撑位。

The article was originally published on COINTURK NEWS: Dogecoin Experiences Significant Price Drop

文章最初发表于 COINTURK NEWS：狗狗币价格大幅下跌