Dogecoin Price Plunges Amidst Market Downturn

市场低迷期间狗狗币价格暴跌

Dogecoin continued its downward trajectory on Tuesday, mirroring a broader decline in the cryptocurrency market. DOGE reached a low of $0.1140, its lowest point since March 1st, 2024. This represents a near 50% drop from its yearly peak.

狗狗币周二继续下跌，反映出加密货币市场的更广泛下跌。 DOGE 跌至 0.1140 美元的低点，这是自 2024 年 3 月 1 日以来的最低点。这比年度峰值下跌了近 50%。

Factors Driving the Sell-Off

推动抛售的因素

• Shift in Trader Focus: Attention among meme token traders has shifted towards newer options such as Pepe, Dogwifhat, and Brett, leaving traditional meme tokens like DOGE struggling.
• Bitcoin's Performance: The lack of upward momentum in Bitcoin, the world's largest cryptocurrency, has impacted Dogecoin's performance. Attempts to surpass the $72,000 resistance level have been unsuccessful.
• Federal Reserve Concerns: The Federal Reserve's signals of only a single rate cut have raised concerns, as Dogecoin and other risk assets tend to perform well under dovish conditions.

Technical Analysis

交易者焦点的转变：meme 代币交易者的注意力已转向 Pepe、Dogwifhat 和 Brett 等较新的选择，而 DOGE 等传统 meme 代币陷入困境。 比特币的表现：全球最大的加密货币比特币缺乏上涨动力，影响了狗狗币的表现。试图突破 72,000 美元阻力位的尝试并未成功。 美联储担忧：美联储仅一次降息的信号引发担忧，因为狗狗币和其他风险资产在鸽派条件下往往表现良好。 技术分析

The daily chart for DOGE indicates that the upward momentum peaked at $0.2290 in March, aligning with Bitcoin's record high. The current downtrend has pushed the coin below the Andrew's Pitchfork tool and the critical support level of $0.1208.

DOGE 的日线图显示，上涨势头在 3 月份达到顶峰 0.2290 美元，与比特币的历史新高一致。当前的下跌趋势已将代币推至安德鲁干草叉工具和 0.1208 美元的关键支撑位下方。

• RSI (Relative Strength Index): Has fallen into the oversold territory (below 30) for the first time this year.
• Awesome Oscillator: Has remained below the neutral level since June 8th.

Price Forecast

RSI（相对强度指数）：今年首次跌入超卖区域（低于30）。令人敬畏的振荡指标：自6月8日以来一直保持在中性水平以下。价格预测

The continuation of the sell-off seems likely, with sellers targeting the psychological support of $0.10. A break below this level could potentially lead to a decline towards $0.0750, the lowest point reached in January.

抛售似乎可能会持续，卖家的目标是 0.10 美元的心理支撑位。跌破该水平可能会导致跌至 0.0750 美元，即 1 月份达到的最低点。