Whale Activity Dwindles, Impacting Dogecoin's Price and Volatility

鲸鱼活动减少，影响Dogecoin的价格和波动性

Whale activity in Dogecoin's market has declined significantly, with large transactions dropping to nearly 88% below mid-November 2024 levels. Historically, these large trades have been a key factor in the currency's stability.

Dogecoin市场中的鲸鱼活动已大大下降，大型交易降至2024年11月中旬的水平低于88％。从历史上看，这些大型交易一直是货币稳定性的关键因素。

Peak Whale Activity and Subsequent Decline

峰鲸活动和随后的下降

Whale activity surged during the latter half of 2024, particularly during November and December. However, by mid-November, this activity plummeted, resulting in a sharp reduction in large transactions. This shift in market sentiment was evident in the near disappearance of whale transactions by February 2025.

鲸鱼活动在2024年后半段，尤其是在11月和12月期间激增。但是，到11月中旬，这种活动暴跌，导致大型交易急剧减少。到2025年2月，在鲸鱼交易的几乎消失中，这种市场情绪的这种转变显而易见。

Potential Factors Driving the Decline

推动下降的潜在因素

According to market analyst Ali, this drastic decrease in whale activity may stem from several large institutional investors and holders reducing or reallocating their investments.

据市场分析师阿里（Ali）称，鲸鱼活动的这种急剧下降可能源于几个大型机构投资者和持有人减少或重新分配其投资。

Impact on Price and Market Dynamics

对价格和市场动态的影响

Whales traditionally provide liquidity and stability to the market. Their reduced presence could lead to weaker support for Dogecoin's price and increased volatility, as the market becomes more retail-driven.

鲸鱼传统上为市场提供流动性和稳定性。随着市场变得更加零售，他们的存在减少可能导致对Dogecoin的价格的支持较弱，并增加波动性。

Reduced Volatility in Dogecoin's Price

Dogecoin价格的波动降低

As whale activity decreased, so too did the volatility in Dogecoin's price. This is reflected in the price action observed from late December 2024 to early 2025. Price movements were noticeably less volatile during this time, with minimal fluctuations observed as Dogecoin oscillated within a narrow range.

随着鲸鱼活动的减少，狗狗币价格的波动也是如此。这反映在从2024年12月下旬至2025年初观察到的价格动作中。在这段时间里，价格变动的波动明显降低，并且在狭窄范围内观察到Dogecoin振荡的最小波动。

Market Analyst Perspective and Critical Support Levels

市场分析师的观点和关键支持水平

Analyst best_analysts expressed a bearish outlook for Dogecoin, citing the reduced whale activity and fading market support. The critical support levels for DOGE are identified at $0.22, with a stronger support zone between $0.176 and $0.18. If DOGE breaks below these levels, further price declines are anticipated.

分析师BEST_ANALYSTS表示对Dogecoin的看跌前景，理由是减少了鲸鱼活动和衰落的市场支持。 Doge的关键支撑水平为0.22美元，支持区更强，在0.176美元至0.18美元之间。如果Doge突破了这些水平，则预计将有进一步的价格下降。

Hesitation in the Derivatives Market

衍生品市场的犹豫

Despite the bearish sentiment in the spot market, the derivatives market also exhibits some hesitancy. Dogecoin's derivatives trading volume currently stands at $1.3 billion, with a slight decline of 0.23% observed in the last 24 hours. The decline in open interest suggests a loss of confidence in Dogecoin's uncertain price direction.

尽管在现货市场上产生了看跌的情绪，但衍生品市场也表现出一些犹豫。 Dogecoin的衍生品交易量目前为13亿美元，在过去的24小时内观察到0.23％的略有下降。开放兴趣的下降表明，对Dogecoin的不确定价格方向失去了信心。

Conclusion

结论

The downturn in whale activity for Dogecoin has had a significant impact on the currency's price and volatility. While the derivatives market remains somewhat hesitant, the outlook for Dogecoin remains uncertain until a clear trend emerges.

Dogecoin的鲸鱼活动低迷对货币的价格和波动性产生了重大影响。尽管衍生品市场仍然有些犹豫，但狗狗币的前景仍然不确定，直到出现明显的趋势。