Meme cryptocurrency Dogecoin (DOGE) is currently experiencing short-term buying pressure, partly capitalizing on the overall market’s attempt to exit the recent bearish scenario. 

Meme 加密货币狗狗币（DOGE）目前正面临短期买盘压力，部分利用了整体市场试图退出近期看跌局面的机会。

Recent gains by DOGE position the token to potentially surpass Avalanche (AVAX) in market capitalization. At present, Dogecoin boasts a market cap of $11.32 billion, securing the 10th spot, while Avalanche holds the 9th position with a market cap of $11.74 billion, a difference of $420 million. 

DOGE 最近的上涨使该代币的市值有可能超过 Avalanche (AVAX)。目前，狗狗币市值为 113.2 亿美元，排名第十，而 Avalanche 市值为 117.4 亿美元，排名第九，相差 4.2 亿美元。

Dogecoin is striving to reclaim its position after losing ground to AVAX in December. Considering the market cap difference between the two, attention is focused on DOGE’s ability to sustain buying pressure and potentially flip AVAX.

在去年 12 月输给 AVAX 后，狗狗币正在努力夺回自己的地位。考虑到两者之间的市值差异，人们的注意力集中在 DOGE 维持购买压力并可能翻转 AVAX 的能力上。

Dogecoin price prediction

狗狗币价格预测

Examining the price of DOGE reveals that the token has traded in a narrow range between $0.70 and $0.08 in recent weeks, indicating a consolidation phase where both bulls and bears await a catalyst to break the stalemate.

检查 DOGE 的价格发现，最近几周该代币的交易价格在 0.70 美元到 0.08 美元之间的窄幅区间内，这表明多头和空头都在等待催化剂打破僵局的盘整阶段。

Notably, Dogecoin has faced hurdles in the early days of 2024, and its performance above the $0.07 mark is crucial for initiating a rally that could see the token potentially surpass AVAX.

值得注意的是，狗狗币在 2024 年初遇到了障碍，其高于 0.07 美元大关的表现对于发起反弹至关重要，可能会看到该代币可能超越 AVAX。

If Dogecoin manages to ascend beyond the $0.080 mark, there’s potential for the cryptocurrency to aim for higher milestones, possibly reaching $0.09 and even approaching the $0.1 mark after overcoming the $0.085 resistance. At the same time, a correction could see Dogecoin dropping below $0.07.

如果狗狗币成功突破 0.080 美元大关，则该加密货币有可能实现更高的里程碑，可能达到 0.09 美元，甚至在克服 0.085 美元阻力后接近 0.1 美元大关。与此同时，狗狗币的回调可能会跌破 0.07 美元。

While Dogecoin has generally followed the overall market trend in recent months, bullish sentiment could be validated by external factors, particularly the influence of Tesla (NASDAQ: TSLA) CEO Elon Musk, a prominent token supporter.

虽然狗狗币近几个月来总体上遵循了整体市场趋势，但看涨情绪可能会受到外部因素的验证，特别是著名代币支持者特斯拉（纳斯达克股票代码：TSLA）首席执行官埃隆·马斯克（Elon Musk）的影响。

The spotlight on Dogecoin has intensified after X (formerly Twitter) launched a dedicated ‘X Payments’ account, potentially expanding the token’s use cases. The resulting rally, driven by X’s interest, has positioned DOGE among the top altcoins.

X（前身为 Twitter）推出专用“X Payments”账户后，狗狗币的关注度进一步加强，这可能会扩大该代币的使用场景。在 X 的兴趣推动下，由此产生的反弹使 DOGE 跻身顶级山寨币之列。

Positive sentiments like these will likely generate more interest in DOGE, potentially increasing its market value and paving the way to surpass AVAX.

像这样的积极情绪可能会引起人们对 DOGE 的更多兴趣，从而有可能增加其市场价值并为超越 AVAX 铺平道路。

Dogecoin price analysis

狗狗币价格分析

By press time, DOGE was trading at $0.08, marking a daily increase of 3%, with a 3.6% gain on the weekly chart.

截至发稿，DOGE 交易价格为 0.08 美元，日涨幅为 3%，周线图涨幅为 3.6%。

Technical indicators present an unfavorable outlook for the DOGE price, with the summary leaning towards a ‘sell’ signal at 11. Moving averages align with a ‘strong sell’ recommendation at 11, while oscillators lean towards a ‘buy’ signal at 2.

技术指标显示 DOGE 价格前景不利，总结倾向于 11 处的“卖出”信号。移动平均线与 11 处的“强力卖出”建议一致，而振荡指标倾向于 2 处的“买入”信号。

Ultimately, the possibility of Dogecoin flipping Avalanche in market cap will depend on several key elements, including the meme coin’s ability to sustain its bullish momentum. Given that both cryptocurrencies have recently traded in tandem with the general market, Dogecoin will also require a sustained boost from Musk-related developments.

最终，狗狗币市值翻转雪崩的可能性将取决于几个关键因素，包括模因币维持看涨势头的能力。鉴于这两种加密货币最近与整体市场同步交易，狗狗币还需要马斯克相关发展的持续推动。

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