• Despite a certain transaction, DOGE’s price might fall in the short term
• Decreasing velocity suggested that the coin might climb towards $0.25 in a few months

According to blockchain tracker Whale Alert, a market participant sent 100 million Dogecoin [DOGE] from Robinhood to an unidentified wallet. At the time of the transfer, the coins were worth $15.25 million, sparking speculation that the price could hike soon.

尽管有一定的交易，DOGE 的价格可能会在短期内下跌。速度下降表明该代币可能会在几个月内攀升至 0.25 美元。根据区块链追踪器 Whale Alert 的数据，一名市场参与者从 Robinhood 向一个身份不明的钱包发送了 1 亿个狗狗币 [DOGE]。转让时，这些代币价值 1525 万美元，引发了价格可能很快上涨的猜测。

Robinhood is a trading platform where users can exchange their cryptocurrencies for fiat. In most cases, inflows into the platform come with a motive to sell. However, since the coins went out to a non-exchange wallet, it is possible that the intention is to hold for some time. When something like this happens, the cryptocurrency’s price jumps or consolidates on the charts.

Robinhood 是一个交易平台，用户可以将加密货币兑换成法定货币。在大多数情况下，流入平台的资金都带有出售动机。然而，由于这些代币被转移到非交换钱包中，因此其意图可能是持有一段时间。当类似的事情发生时，加密货币的价格会在图表上上涨或盘整。

A little decline before the hike?

For Dogecoin, AMBCrypto cannot yet confirm what the end result could be. However, it seemed that the decision may be to prepare for the post-Bitcoin [BTC] halving price performance.

加息前小幅下跌？对于狗狗币，AMBCrypto 尚无法确认最终结果是什么。然而，这一决定似乎是为比特币减半后的价格表现做准备。

Historically, prices of memecoins like Dogecoin have surged to astronomical values months after the halving. At press time, DOGE was clinging to $0.15, representing a 4.64% hike within just 24 hours.

从历史上看，狗狗币等模因币的价格在减半几个月后就飙升至天文数字。截至发稿时，DOGE 维持在 0.15 美元，在短短 24 小时内上涨了 4.64%。

However, on-chain data from Santiment showed that the uptick might not last. This, because of the trend displayed by the one-day circulation. At the time of writing, Dogecoin’s circulation had risen to 1.07 billion. The hike implied that more coins are being used, with fewer ones taken off the market.

然而，Santiment 的链上数据显示，这种上涨可能不会持续。这是因为单日流通量所显示的趋势。截至撰写本文时，狗狗币的发行量已升至 10.7 亿枚。此次上涨意味着更多的代币被使用，而市场上的代币减少了。

If the metric continues to climb, then DOGE’s value might fall. On the contrary, the coin’s velocity flashed a different signal, with the same having a value of 1.49.

如果该指标继续攀升，那么 DOGE 的价值可能会下降。相反，硬币的速度闪烁着不同的信号，其值为 1.49。

Source: Santiment

资料来源：Santiment

Bitcoin pours more into DOGE

A high velocity for a cryptocurrency indicates solid economic activity. In this instance, holders are spending a lot of their coins. However, a decrease, like in DOGE’s situation, suggests a reluctance to spend.

比特币向 DOGEA 投入更多资金，加密货币的高速流通表明经济活动稳健。在这种情况下，持有者花费了大量的代币。然而，就像 DOGE 的情况一样，下降表明人们不愿花钱。

In the short-term, a rising circulation might draw DOGE below $0.15. However, if the velocity remains low in the coming months, DOGE’s price could rally and targets between $0.20 and $0.25 could be plausible.

短期内，发行量上升可能会将 DOGE 拉至 0.15 美元以下。然而，如果未来几个月的流通速度仍然较低，DOGE 的价格可能会上涨，目标价可能在 0.20 美元至 0.25 美元之间。

AMBCrypto also assessed Dogecoin’s correlation with Bitcoin. This was done to check if DOGE’s price might follow BTC’s direction over the next few weeks.

AMBCrypto 还评估了狗狗币与比特币的相关性。这样做是为了检查 DOGE 的价格在未来几周内是否会遵循 BTC 的方向。

According to data from Macroaxis, the 90-day correlation coefficient between both cryptocurrencies is 0.94. This metric ranges from -1 to +1. A value close to -1 shows almost no correlation while the other shows strong similar movement.

根据 Macroaxis 的数据，两种加密货币之间的 90 天相关系数为 0.94。该指标的范围从 -1 到 +1。接近 -1 的值表明几乎没有相关性，而另一个值则显示出强烈的相似运动。

Source: Macroaxis

来源：Macroaxis

Despite the correlation, DOGE would have generated 1.66 times more than BTC if you invested the same amount in the last three months.

尽管存在相关性，如果您在过去三个月投资相同金额，DOGE 的收益将是 BTC 的 1.66 倍。

Realistic or not, here’s DOGE’s market cap in BTC terms

不管现实与否，这是 DOGE 以 BTC 计算的市值

Moving on, this might not change. As such, if Bitcoin’s price tumbles, Dogecoin could plunge harder. On the other hand, a significant increase in Bitcoin’s value could stir a mind-blogging rally for DOGE like the one last seen in March.

继续前进，这可能不会改变。因此，如果比特币价格暴跌，狗狗币可能会跌得更厉害。另一方面，比特币价值的大幅上涨可能会引发 DOGE 的疯狂反弹，就像 3 月份出现的那样。

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