You can also read this news on COINTURK NEWS: Dogecoin’s Price Fluctuations and Market Impact
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At the peak of meme coins, Dogecoin (DOGE) appears to have undergone a sharp correction following transactions in the last 24 hours. Despite having achieved strong gains in the past period, DOGE is still considered a significant risk by certain circles. Perhaps Dogecoin, which might need an Elon Musk effect, has seen some changes in its price recently; let’s take a look together.
在 meme 币的巅峰时期,狗狗币 (DOGE) 似乎在过去 24 小时的交易后经历了急剧的调整。尽管 DOGE 在过去一段时间取得了强劲的收益,但某些圈子仍将其视为重大风险。也许狗狗币可能需要埃隆·马斯克效应,最近其价格发生了一些变化;我们一起来看看吧。
The Rise and Fall of DOGE
DOGE的兴衰
According to data provided by CoinMarketCap, DOGE’s price initiated a rise on February 17 and climbed to $0.090 after an 8% increase by 12:45 UTC on February 20.
根据 CoinMarketCap 提供的数据,DOGE 的价格于 2 月 17 日开始上涨,并在 2 月 20 日 12:45 UTC 上涨 8% 后攀升至 0.090 美元。
This was enough to brighten the eyes of the diamond hands. When they decided to take profits, the curve began to bend. At the time of writing this article, DOGE was finding buyers at the $0.0335 level, erasing a large part of the profits brought by the recent surge.
这足以让钻石手的眼睛一亮。当他们决定获利了结时,曲线开始弯曲。在撰写本文时,DOGE 正在 0.0335 美元的水平上寻找买家,抹去了近期飙升带来的大部分利润。
DOGE Coin Commentary
DOGE币评论
Despite the volatile price movements, it turns out that DOGE has actually performed well since the beginning of February compared to the previous period. DOGE failed to participate in the price rally at the end of 2023, causing anxiety among investors. In the last 21 days, it has been revealed that DOGE’s price has gained 8%.
尽管价格走势波动较大,但事实证明,与上一时期相比,DOGE 自 2 月初以来实际上表现良好。 DOGE未能参与2023年底的价格上涨,引起投资者的焦虑。据透露,在过去 21 天里,DOGE 的价格上涨了 8%。
On-chain data and DOGE activities also showed noticeable improvement throughout the month. According to data from on-chain data provider IntoTheBlock, over one million transactions were performed daily on Dogecoin in the last three weeks.
整个月链上数据和 DOGE 活动也显示出明显改善。根据链上数据提供商 IntoTheBlock 的数据,过去三周狗狗币每天执行超过 100 万笔交易。
Data provided by Santiment revealed that during the period of DOGE’s price increase, there was also a rise in the number of daily active addresses. However, the subsequent pullback in price also led to a decrease in active address numbers.
Santiment提供的数据显示,在DOGE涨价期间,日活跃地址数也有所上升。然而,随后价格的回落也导致活跃地址数量减少。
Musk and the DOGE Effect
马斯克和 DOGE 效应
Compared to previous years, one of the biggest problems for DOGE recently has been the overreliance on Elon Musk, who is considered its biggest supporter. Dogecoin has been significantly supported by Elon Musk in the past years.
与往年相比,DOGE最近最大的问题之一是过度依赖被认为是其最大支持者的埃隆·马斯克(Elon Musk)。过去几年,狗狗币得到了埃隆·马斯克的大力支持。
In this context, decisions related to payment options by his companies could have significant impacts on DOGE. Another concern observed by those following DOGE in the crypto community is the coin’s limited real-world use. This low interaction with the real world could hinder DOGE’s ability to find catalysts for growth, which could create challenges for a token considered at the peak of memecoins in the future.
在这种情况下,其公司有关支付选项的决策可能会对 DOGE 产生重大影响。加密社区中 DOGE 关注者观察到的另一个担忧是该币在现实世界中的使用有限。这种与现实世界的低互动可能会阻碍 DOGE 寻找增长催化剂的能力,这可能会给未来处于 memecoin 巅峰的代币带来挑战。
The post first appeared on COINTURK NEWS: Dogecoin’s Price Fluctuations and Market Impact
该帖子首次出现在 COINTURK 新闻:狗狗币的价格波动和市场影响