Dogecoin Plummets 10%, Key Support Tested Amidst Market Weakness

Dogecoin Plummets 10％，在市场弱点中测试的密钥支持测试

Dogecoin (DOGE) experienced a significant downturn, falling 10% to $0.206 and triggering over $32 million in liquidations. This decline tested key support levels, leaving traders uncertain about the future direction of the meme coin. A drop below $0.19 could potentially lead to a much deeper correction towards $0.06. Conversely, a breakout above $0.21 could propel DOGE towards $0.31.

Dogecoin（Doge）经历了明显的下滑，下降了10％至0.206美元，并触发了超过3200万美元的清算。 这种下降测试了关键支持水平，使交易者不确定模因硬币的未来方向。 低于$ 0.19的跌幅可能会导致更深层次的更正，以$ 0.06。 相反，超过$ 0.21的突破可能会推向$ 0.31。

Network Activity Shows Reduced Engagement

网络活动显示参与度减少

The weakening market is reflected in Dogecoin's declining network activity. Daily transactions plummeted from 133,000 to 51,000 over three weeks, accompanied by a drop in Open Interest from $5 billion to $1.8 billion. This suggests reduced investor engagement and a period of market uncertainty. The price has fallen more than 50% in just four weeks. While a failure to hold the $0.19-$0.21 range could trigger a further decline to $0.06, technical indicators, such as a falling wedge formation, hint at a potential price reversal.

削弱的市场反映在Dogecoin的网络活动下降中。 每日交易在三周内从133,000次下降到51,000，伴随着开放利息从50亿美元下降到18亿美元。这表明投资者参与度减少和市场不确定性时期。 价格在短短四个星期内下跌了50％以上。 尽管未能持有$ 0.19- $ 0.21的范围可能会触发进一步下降至0.06美元，但技术指标（例如楔形碎片的下降）暗示了潜在的价格逆转。

Institutional Support and Elon Musk's Influence Offer a Glimmer of Hope

机构支持和埃隆·马斯克（Elon Musk）的影响力带来了一线希望

Despite the recent downturn, Dogecoin maintains considerable institutional support. Over 6.1 million wallets hold DOGE on-chain, contributing to a network hash power of 2.66 PH/s. Elon Musk's continued influence remains a significant factor. The anticipated launch of X's payment platform later this year, and Musk's previous endorsements, fuel speculation about DOGE's potential role in future payment systems.

尽管最近经历了下滑，但Dogecoin仍保持着可观的机构支持。 超过610万个钱包持有链链，导致网络哈希功率为2.66 pH/s。 埃隆·马斯克（Elon Musk）的持续影响仍然是一个重要因素。 预计将于今年晚些时候推出X的支付平台，以及马斯克先前的认可，即有关Doge在未来支付系统中的潜在作用的燃料猜测。

Dogecoin at a Crossroads: The Next Move is Crucial

十字路口的狗狗币：下一步至关重要

Dogecoin currently sits at a critical juncture. A successful bounce above $0.21 could ignite a rally to $0.31. However, a failure to hold this level could send the price tumbling towards $0.14 or lower. The immediate future of DOGE hinges on the market's next significant move.

Dogecoin目前处于关键时刻。 超过$ 0.21的成功反弹可能会将集会点燃至$ 0.31。但是，未能保持此水平的价格可能会使价格转向0.14美元或更低。 Doge取决于市场的下一个重大举措的近期未来。

Tags: Altcoin, Crypto market, Cryptocurrency, Dogecoin (DOGE)

标签：Altcoin，加密市场，加密货币，Dogecoin（Doge）