The Dogecoin price is down double-digits today after an eventful week of upward movement. This has seen a good part of its gains eliminated in the last day, pushing the coin into the red along with the rest of the market.

在经历了多事的一周上涨之后，狗狗币价格今天下跌了两位数。这导致其最后一天的大部分涨幅被抵消，导致代币与市场其他产品一起陷入亏损。

Why Dogecoin Price Is Down This Week

Dogecoin started out Tuesday on a sour note, dropping more than 10% in the 24-hour period as well. This decline is not attributed to a single thing that happened to DOGE, though, but rather a market-wide decline that began with Bitcoin.

狗狗币价格为何本周下跌 狗狗币周二开盘表现不佳，24 小时内也下跌了 10% 以上。不过，这种下跌并不是 DOGE 发生的任何事情造成的，而是始于比特币的整个市场的下跌。

Following the release of the March manufacturing data in the US, the market responded negatively. The report shows that while manufacturing in the country had actually increased for the first time in two years, there wasn’t an increase in employment at these factories. In addition, prices were also higher, thus triggering a negative reaction.

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The Bitcoin price declined around 5% off this report and as expected, altcoins suffered even more for this. BTC went below $66,000 and is now finding its footing at this level. However, DOGE’s price fell 10% before finding support above $0.18.

比特币价格较本报告下跌约 5%，正如预期的那样，山寨币因此遭受的损失更大。 BTC 跌破 66,000 美元，目前正在该水平站稳脚跟。然而，DOGE 的价格下跌了 10%，之后才找到 0.18 美元上方的支撑。

Naturally, Dogecoin is just responding to Bitcoin, which is the market leader. So in this case, an increase in the Bitcoin price would see the DOGE price recover, and a decrease would ensure that the current market crash continues.

当然，狗狗币只是对市场领导者比特币的回应。因此，在这种情况下，比特币价格的上涨将使 DOGE 价格回升，而比特币价格的下跌将确保当前的市场崩盘继续下去。

DOGE Price Movements This Week

Dogecoin had moved around 10% in the prior day to reach a new three-year high above $0.22. The initial Dogecoin move upward had been triggered by excitement around Elon Musk’s X (formerly Twitter) finally integrating the meme coin as a payment method on the platform.

DOGE 本周价格走势狗狗币前一天上涨了 10% 左右，达到 0.22 美元以上的三年新高。狗狗币最初的上涨是由埃隆·马斯克的 X（前身为 Twitter）最终将模因币作为平台上的支付方式整合的兴奋所引发的。

The social media company had secured additional money transmitter licenses in the United States, sparking speculation of DOGE payments on X coming soon. This, coupled with the expectation that Musk could begin tweeting about DOGE once more, saw its price soar higher.

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Also, the announcement that Coinbase, the largest crypto exchange in the United States, would be launching a perpetual trading contract for DOGE contributed to this upward move. This saw the Dogecoin open interest rise to a new record high of $1.77 billion, signaling high interest in the meme coin.

此外，美国最大的加密货币交易所 Coinbase 宣布将推出 DOGE 永续交易合约也推动了这一上涨。这使得狗狗币的未平仓合约升至 17.7 亿美元的新纪录高位，表明人们对这种模因币的兴趣很高。

Despite the crash in the market, bullish sentiment remains nonetheless, especially around Dogecoin. Crypto Analyst Ali Martinez predicts that the Dogecoin price will continue to rise, even putting it as high as $12 as the bull market unfolds.

尽管市场暴跌，但看涨情绪仍然存在，尤其是围绕狗狗币。加密货币分析师 Ali Martinez 预测，随着牛市的展开，狗狗币的价格将继续上涨，甚至高达 12 美元。

DOGE price drops 10% to $0.18 | Source: DOGEUSDT on Tradingview.com

DOGE 价格下跌 10% 至 0.18 美元 |资料来源：Tradingview.com 上的 DOGEUSDT 特色图片来自 U.Today，图表来自 Tradingview.com