Dogecoin has been stuck in a price correction since March 31, falling by 21% from $0.2214. This has seen DOGE falling across a number of metrics, including the MVRV ratio. The MVRV ratio recently turned negative, a condition that indicates many holders are currently at a loss. This might sound bad, but it could actually be a massive buy opportunity for long-term investors of the meme cryptocurrency.
自 3 月 31 日以来，狗狗币一直陷入价格调整，从 0.2214 美元下跌了 21%。 DOGE 在许多指标上都出现了下降，包括 MVRV 比率。 MVRV 比率最近转为负数，这表明许多持有者目前处于亏损状态。这可能听起来很糟糕，但对于模因加密货币的长期投资者来说，这实际上可能是一个巨大的买入机会。
Dogecoin MVRV Ratio Turns Negative: Why Does This Matter?
Data has shown DOGE falling to the negative side of its MVRV ratio. According to price data provided by Santiment, an on-chain analytics company, DOGE’s MVRV ratio fell quickly to a low of 15.36% on April 4.
狗狗币 MVRV 比率变为负值：为什么这很重要？数据显示 DOGE 的 MVRV 比率跌至负值。根据链上分析公司 Santiment 提供的价格数据，DOGE 的 MVRV 比率在 4 月 4 日迅速下跌至 15.36% 的低点。
Source: Santiment
The MVRV ratio compares an asset’s market capitalization to its realized capitalization, giving insight into investor sentiment and the potential for price rallies. For DOGE, it divides Dogecoin’s current market cap by the realized value of all the coins in the market. At the time of writing, Dogecoin has a market cap of $24.9 billion. Although still the largest of all meme coins, Dogecoin’s market cap has fallen by almost 20% in the past seven days.
相关阅读：柴犬鲸鱼交易激增 340%，它们能否将 SHIB 推至 0.00004 美元？来源：Santiment MVRV 比率将资产的市值与其已实现资本进行比较，从而深入了解投资者情绪和价格上涨的潜力。对于 DOGE，它将狗狗币的当前市值除以市场上所有代币的已实现价值。截至撰写本文时，狗狗币的市值为 249 亿美元。尽管狗狗币仍然是所有 meme 币中最大的，但其市值在过去 7 天内下跌了近 20%。
When the ratio turns negative, it often means investor sentiment has soured, and selling pressure is prevailing. However, it also indicates DOGE is trading at a discount relative to historical investment costs. For long-term investors, this can present a chance to buy DOGE at a price below its average realized price. On the other hand, very high positive DOGE MVRV ratios have often led to significant price pullbacks.
当该比率变为负数时，通常意味着投资者情绪恶化，抛售压力普遍存在。然而，这也表明 DOGE 的交易价格相对于历史投资成本有折扣。对于长期投资者来说，这可能提供一个以低于其平均实现价格的价格购买 DOGE 的机会。另一方面，非常高的正 DOGE MVRV 比率通常会导致价格大幅回调。
In the past, these periods of negative MVRV were followed by significant price rallies. Consequently, past action has seen DOGE go on a price recovery shortly after falling from the -5% to -15% range. The last time DOGE fell to -15% on the MVRV ratio was during a 31% price drop, which lasted from March 14 to March 20. During this period, the meme currency reached a value of $0.1251. However, the meme coin reversed course just shortly after and went on a 78% price surge over seven days to reach $0.2262 on March 28.
过去，MVRV 为负值的时期之后会出现价格大幅上涨。因此，过去的行动表明 DOGE 在从 -5% 至 -15% 范围下跌后不久就开始价格回升。 DOGE 上次 MVRV 比率跌至 -15% 是在 3 月 14 日至 3 月 20 日价格下跌 31% 期间。在此期间，meme 货币的价值达到 0.1251 美元。然而，这款 Meme 币不久之后就发生了逆转，价格在 7 天内飙升 78%，于 3 月 28 日达到 0.2262 美元。
What’s Next For DOGE?
At the time of writing, DOGE is trading at $0.1738. Recent price action has seen the meme coin navigating a tight zone and a massive selling spree from whales. DOGE is now trading just above a support zone just above $0.17. A break of this price level to the downside could mean DOGE falling to as low as $0.125 again in the short term.
DOGE 的下一步是什么？在撰写本文时，DOGE 的交易价格为 0.1738 美元。最近的价格走势表明，模因代币在狭窄的区域中航行，并受到鲸鱼的大规模抛售。 DOGE 目前的交易价格略高于 0.17 美元上方的支撑区域。跌破这一价格水平可能意味着 DOGE 在短期内再次跌至 0.125 美元的低点。
On the other hand, the end of the current market consolidation could reignite interest in DOGE and buying volume. As a result, the price could easily retest the $0.22 level.
相关阅读：柴犬击败比特币、狗狗币，成为主要交易所公布交易量最大的加密货币另一方面，当前市场整合的结束可能会重新点燃人们对狗狗币的兴趣和购买量。因此，价格很容易重新测试 0.22 美元的水平。
DOGE price tests $0.17 resistance | Source: DOGEUSDT on Tradingview.com
DOGE 价格测试 0.17 美元阻力位 |资料来源：Tradingview.com 上的 DOGEUSDT 精选图片来自 Inside Telecom，图表来自 Tradingview.com
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