Dogecoin and Shiba Inu have posted identical price performance in January, with the two largest memes coins shedding 17% as of Jan. 26.

狗狗币和柴犬币 1 月份的价格表现相同，截至 1 月 26 日，这两种最大的模因币下跌了 17%。

Positive speculations about a proposed XPayments platform were a major driver for both Shiba Inu (SHIB) & Dogecoin (DOGE) communities during the month, but as bearish headwinds swept across the broader crypto market, the mega-cap memecoins also succumbed to downward pressure. 

关于拟议的 XPayments 平台的积极猜测是本月 Shiba Inu (SHIB) 和 Dogecoin (DOGE) 社区的主要推动力，但随着看跌逆风席卷更广泛的加密货币市场，巨型 memecoin 也屈服于下行压力。

Notably, Dogecoin miners’ recent trading activity could see DOGE prices fall behind SHIB in the weeks ahead. 

值得注意的是，狗狗币矿工最近的交易活动可能会导致狗狗币价格在未来几周内落后于 SHIB。

DOGE and SHIB posted identical performance in January 

DOGE 和 SHIB 一月份的表现相同

With a market capitalization of $11.4 billion and $5.3 billion respectively, Dogecoin and Shiba Inu are the two largest memecoins. The fortunes of both ecosystems have remained closely interlinked since inception. 

狗狗币和柴犬的市值分别为 114 亿美元和 53 亿美元，是最大的两种模因币。自诞生以来，这两个生态系统的命运一直紧密相连。

In January 2024, DOGE and SHIB posted strikingly identical price performances. The chart above illustrates that both assets shed 17% in value during the month as of Jan. 26. 

2024 年 1 月，DOGE 和 SHIB 公布了惊人相同的价格表现。上图显示，截至 1 月 26 日，这两种资产的价值均下跌了 17%。

However, Dogecoin miners’ current trading disposition could see the price correlation decouple from SHIB in February. 

然而，狗狗币矿工当前的交易处置可能会导致价格相关性与 2 月份的 SHIB 脱钩。

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Dogecoin miners offload DOGE worth $22m in 3 months

狗狗币矿工在 3 个月内出售了价值 2200 万美元的 DOGE

Dogecoin recorded double-digit price gains in Q4 2023 as the crypto markets rallied on positive sentiment surrounding the Bitcoin spot ETF approval. However, as investors bought in on the hype, on-chain data reveals that Dogecoin miners had capitalized on the crypto market rally to book profits. 

随着围绕比特币现货 ETF 批准的积极情绪推动加密货币市场反弹，狗狗币在 2023 年第四季度录得两位数的价格涨幅。然而，随着投资者在炒作中买入，链上数据显示，狗狗币矿工已经利用加密货币市场的上涨来实现利润。

IntoTheBlock’s miners’ reserves chart tracks the real-time balances in the custody of recognized mining companies and mining pools. 

IntoTheBlock 的矿工储备图跟踪公认的矿业公司和矿池托管的实时余额。

Dogecoin miners held 4.6 billion DOGE in the cumulative balances as of Nov. 21, during the heat of the crypto market rally. But as of Jan. 26, the balances have dropped to 4.3 billion DOGE. 

截至 11 月 21 日，在加密货币市场上涨的热潮期间，狗狗币矿工累计持有 46 亿 DOGE。但截至1月26日，余额已降至43亿DOGE。

This implies that the miners have offloaded 290 million DOGE worth approximately $22.6 million in the last three months.

这意味着矿工在过去三个月中抛售了 2.9 亿枚 DOGE，价值约 2260 万美元。

Miners are major stakeholders within any proof of work (PoF) cryptocurrency ecosystem. They dedicate computing resources to validate transactions in exchange for block rewards denominated in the native coin.

矿工是任何工作证明 (PoF) 加密货币生态系统中的主要利益相关者。他们投入计算资源来验证交易，以换取以原生代币计价的区块奖励。

A selling trend is interpreted as a bearish signal for the underlying asset. As the miners unload more newly mined DOGE coins, it dilutes market supply and increases downward pressure on the price. 

抛售趋势被解释为标的资产的看跌信号。随着矿工卸载更多新开采的 DOGE 币，稀释了市场供应并增加了价格下行压力。

With market demand weakening, the miners’ selling trend could have a more pronounced impact on DOGE price in February 2024, opening the door to SHIB potentially overtaking the pioneer memecoin. 

随着市场需求减弱，矿工的抛售趋势可能会对 2024 年 2 月的 DOGE 价格产生更明显的影响，为 SHIB 超越先锋 memecoin 开启大门。

DOGE price forecast: Losing the $0.007 support could trigger larger losses 

DOGE价格预测：失去0.007美元的支撑可能会引发更大的损失

Like the rest of the cryptocurrency market, DOGE price has endured significant bearish price action in the past month.  However, drawing inferences from the miners’ $22.6 selling trend analyzed above, the bears look set to gain more ground in the coming weeks. Bears must scale the initial support buy-wall around $0.07 to validate this outlook.

与加密货币市场的其他部分一样，DOGE 价格在过去一个月中经历了显着的看跌价格走势。然而，根据上面分析的矿商 22.6 美元的抛售趋势得出的推论，空头似乎将在未来几周内获得更多进展。空头必须将初始支撑买入墙扩大到 0.07 美元左右才能验证这一前景。

IntoTheBlock’s Global in/out of the money (GIOM) data groups the current DOGE holder wallets according to their historical entry prices.

IntoTheBlock 的全球资金进/出 (GIOM) 数据根据历史入场价格对当前 DOGE 持有者钱包进行分组。

The tool depicts that 528,180 addresses had acquired 45.6 billion DOGE at the average price of $0.071. Notably, this is the largest cluster of current Dogecoin holders. They could overturn the bearish trend if they make frantic purchases to defend their positions. 

该工具显示，528,180 个地址以 0.071 美元的平均价格购买了 456 亿个 DOGE。值得注意的是，这是当前狗狗币持有者的最大群体。如果他们疯狂买入以捍卫自己的头寸，他们可能会扭转看跌趋势。

However, a break below the $0.07 support level could set off margin call triggers and open the doors to a $0.06 retest. 

然而，跌破 0.07 美元的支撑位可能会引发追加保证金通知，并为重新测试 0.06 美元打开大门。

On the upside, the bulls could regain the momentum if the DOGE price can move above the $0.10 area. But in the short-term, the 786,930 addresses that acquired 14.1 billion DOGE at the average price of $0.095 could pose a major resistance. 

从好的方面来说，如果 DOGE 价格能够突破 0.10 美元区域，多头可能会重新获得动力。但短期内，以 0.095 美元均价收购 141 亿 DOGE 的 786,930 个地址可能会构成重大阻力。