Recent price movements in DOGE are reminiscent of late 2020, when the meme token surged over 1,000% in early 2021 after bouncing from a bear market.

DOGE 最近的价格走势让人想起 2020 年底，当时 Meme 代币从熊市反弹后在 2021 年初飙升了 1,000% 以上。

The current price action of DOGE bears a striking resemblance to late 2020. This similarity is noteworthy as DOGE experienced a monumental rally in the early months of 2021.

DOGE 当前的价格走势与 2020 年底惊人相似。这种相似性值得注意，因为 DOGE 在 2021 年初经历了巨大的反弹。

According to the Dow Theory, asset price trends often repeat themselves, akin to Mark Twain’s famous quote: “History never repeats itself, but often rhymes.” Therefore, traders frequently analyze current price action against historical patterns to anticipate future movements.

根据道氏理论，资产价格趋势经常会重演，类似于马克·吐温的名言：“历史永远不会重演，但往往会押韵。”因此，交易者经常根据历史模式分析当前的价格走势，以预测未来的走势。

Dogecoin, the leading meme cryptocurrency, has recently broken above its widely followed 50, 100, and 200-week simple moving averages, ending a prolonged 20-month consolidation period within the depths of a bear market. Notably, the 50-week SMA has crossed above the 100-week SMA, indicating a bullish momentum shift.

狗狗币是领先的模因加密货币，最近突破了广泛关注的 50、100 和 200 周简单移动平均线，结束了熊市深处长达 20 个月的盘整期。值得注意的是，50 周移动平均线已突破 100 周移动平均线，表明看涨势头发生转变。

These developments closely mirror those observed in late 2020, which preceded DOGE’s explosive rally in the early months of 2021.

这些事态发展与 2020 年底观察到的情况密切相关，即 DOGE 在 2021 年初几个月爆发性反弹之前。

After spending 20 months trading between 5 and 15 cents, DOGE broke out of its bear market consolidation phase late last month. A similar consolidation period lasting 20 months occurred in late 2019 and 2020, setting the stage for a significant rally in early 2021, during which DOGE surged by 3,600% to 37 cents by May.

在经历了 20 个月的 5 至 15 美分交易后，DOGE 于上月底突破了熊市盘整阶段。 2019 年末和 2020 年也出现了类似的持续 20 个月的盘整期，为 2021 年初的大幅上涨奠定了基础，在此期间 DOGE 到 5 月份飙升了 3,600% 至 37 美分。

Considering this historical fractal, DOGE’s trajectory may favor further upside. However, it’s worth noting that DOGE’s uptrends are typically short-lived, lasting around six months, followed by a prolonged consolidation or bottoming process spanning nearly three years.

考虑到这一历史分形，DOGE 的轨迹可能有利于进一步上涨。然而，值得注意的是，DOGE 的上升趋势通常是短暂的，持续约六个月，随后是长达近三年的长期盘整或触底过程。

Another similarity between the current environment and 2020 is the anticipation of interest rate cuts by major central banks, including the Federal Reserve. Expectations of renewed liquidity easing could benefit riskier assets, similar to the conditions in 2020 when central banks maintained near-zero interest rates.

当前环境与 2020 年的另一个相似之处是对包括美联储在内的主要央行降息的预期。重新放松流动性的预期可能有利于风险较高的资产，类似于 2020 年央行维持接近零利率的情况。

Nevertheless, it’s essential to recognize that past performance does not guarantee future results, particularly in the case of speculative cryptocurrencies like DOGE. A potential downturn in Bitcoin, the dominant cryptocurrency, could exert downward pressure on DOGE and other meme coins.

然而，必须认识到过去的表现并不能保证未来的结果，特别是对于像 DOGE 这样的投机性加密货币。占主导地位的加密货币比特币的潜在低迷可能会给 DOGE 和其他模因币带来下行压力。