In the past week, Dogecoin (DOGE), the top memecoin based on market value, has surged by a whopping 95%.

过去一周，市值最高的 memecoin 狗狗币 (DOGE) 飙升了 95%。

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Dogecoin (DOGE), the top memecoin by market value, surged 95% in the past week. Yet, this rise also saw Dogecoin futures hit a record $1.4 billion in open interest, sparking worries about trader optimism.

狗狗币 (DOGE) 是市值最高的模因币，过去一周飙升 95%。然而，狗狗币期货的未平仓合约也创下了 14 亿美元的历史新高，引发了对交易员乐观情绪的担忧。

Dogecoin’s Role in Altcoin Bull Runs

Some analysts view Dogecoin as a pivotal player in altcoin bull runs, considering its historical performance and status as a top-10 cryptocurrency by market capitalization. Technical analysts also note similarities between current price movements and past periods of explosive growth for DOGE.

狗狗币在山寨币牛市中的作用一些分析师认为狗狗币是山寨币牛市中的关键参与者，考虑到其历史表现以及作为市值排名前十的加密货币的地位。技术分析师还注意到 DOGE 当前的价格走势与过去的爆炸性增长时期之间的相似之处。

However, the record-breaking open interest in Dogecoin futures raises concerns about excessive leverage as traders speculate on potential drastic price movements. Similar situations in the past have been followed by high volatility.

然而，狗狗币期货破纪录的未平仓合约引发了人们对杠杆过高的担忧，因为交易者猜测潜在的剧烈价格波动。过去类似的情况也曾出现过剧烈波动。

Analyzing the perpetual funding rate, a crucial indicator of leverage demand, reveals that DOGE futures are currently experiencing their highest funding rate in over 18 months. While this suggests bullish sentiment, it’s important to recognize that this metric alone doesn’t necessarily indicate an unhealthy market. Moreover, other major cryptocurrencies like Bitcoin and Solana are also witnessing elevated funding rates.

分析永续资金费率（杠杆需求的关键指标）显示，DOGE 期货目前正经历 18 个月以来的最高资金费率。虽然这表明看涨情绪，但重要的是要认识到，仅此指标并不一定表明市场不健康。此外，比特币和 Solana 等其他主要加密货币的融资利率也有所上升。

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

重要提示：请注意，本文仅旨在提供信息，不应被视为法律、税务、投资、财务或任何其他类型的建议。

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