Dogecoin price continued to tumble in line with the broader crypto market.

Dogecoin的价格继续与更广泛的加密市场一致。

Dogecoin (DOGE), the biggest meme coin, plunged to $0.2180, down by 25% from its highest point in July. Its market capitalization has dropped to over $32 billion.

Dogecoin（Doge）是最大的模因硬币，跌至0.2180美元，比7月份的最高点下降了25％。它的市值已降至超过320亿美元。

Dogecoin price technical analysis

Dogecoin价格技术分析

The daily timeframe chart shows that the much-anticipated surge to $1 may not happen soon, as DOGE has formed bearish chart patterns.

每日时间范围图显示，备受期待的激增至1美元可能不会很快发生，因为Doge形成了看跌图表模式。

It is in the process of forming a rising wedge pattern. This pattern comprises two ascending, converging trendlines. In this case, the upper line connects the highest swings since March 3, while the lower line links the lower lows since June 23.

它正在形成上升的楔形模式。该模式包括两个升级的趋势线。在这种情况下，上线连接自3月3日以来的最高秋千，而下线则连接自6月23日以来的下部低点。

A bearish breakout happens when the two lines approach their confluence, which may happen soon. 

当两条线接近他们的融合时，就会发生看跌的突破，这可能很快就会发生。 

The forming rising wedge is part of the right shoulder of the head-and-shoulders pattern that has been forming since October 2023. Its head section is at $0.4825, while the left shoulder is at $0.2275. 

形成的上升楔形是自2023年10月以来一直形成的头和肩部图案的右肩的一部分。其头部为0.4825美元，而左肩为0.2275美元。 

You might also like: VVV price rises as whales buy ahead of Venice tokenized DIEM launch

您可能会喜欢：VVV价格上涨，鲸鱼在威尼斯代币diem发布之前购买

The right shoulder is at $0.2865, while the neckline connects the lowest swings since October 2023. 

右肩为$ 0.2865，而领口是自2023年10月以来最低的秋千。 

These two patterns and the performance of top oscillators like the MACD and the Relative Strength Index point to further downside. The MACD indicator is about to cross the zero line, pointing downward, while the RSI has dropped below 50.

这两种模式和顶级振荡器（例如MACD）的性能以及相对强度指数指向进一步的缺点。 MACD指示器即将越过零线，指向向下，而RSI降至50以下。

The most likely scenario is where the Dogecoin price will drop and retest the support at $0.1415, its lowest level in June. 

最有可能的情况是，Dogecoin价格将下降并重新测试支撑量为0.1415美元，这是6月的最低水平。 

DOGE price chart | Source: crypto.news

大道价格图表|资料来源：crypto.news

Potential catalysts for DOGE

门槛的潜在催化剂

While the Dogecoin price forecast is bearish, two key catalysts may invalidate this and push it to $1. The most important one is if a crypto market rally happens. If Bitcoin (BTC) rebounds from the ongoing slump and keeps rising, there is a possibility that other altcoins will follow. 

虽然Dogecoin的价格预测是看跌，但两个关键的催化剂可能使其无效，并将其推向1美元。最重要的是加密市场集会是否发生。如果比特币（BTC）从正在进行的低迷中反弹并保持上升，则可能会跟随其他山寨币。 

The other important catalyst will be the approval of spot DOGE ETFs by the Securities and Exchange Commission later this year. Bitwise, Grayscale, and 21Shares have all filed for these funds, and there are rising odds that the agency will approve them because DOGE is a proof-of-work coin like Bitcoin and is highly liquid, with billions of dollars in trading volume.

另一个重要的催化剂将是今年晚些时候证券交易委员会批准现场Doge ETF。 Bitwise，灰度和21股都已经申请了这些资金，并且机构会批准这些资金，因为Doge是像比特币这样的工作证明硬币，并且是非常流动性的，具有数十亿美元的交易量。

A DOGE ETF approval would be bullish as it would lead to more inflows from American investors such as those who have invested in BTC and Ethereum funds.

Doge ETF的批准将是看好的，因为这将导致美国投资者（例如投资BTC和以太坊基金的投资者）的流入更多。

You might also like: OKB price is rallying again: here’s why it may crash to $65

您可能也喜欢：OKB价格再次集会：这就是为什么它可能会崩溃至65美元