Dogecoin (CRYPTO: DOGE) fans celebrated DogeDay on April 20 — a yearly event that began in 2021 with the playful online holiday on April 20, also known as 4/20.

Dogecoin（Crypto：Doge）的粉絲於4月20日慶祝Dogeday，這是一年一度的活動，於2021年開始，在4月20日嬉戲的在線假期（也稱為4/20）。

But now, there could be another big reason for Dogecoin fans to celebrate as a well-known crypto analyst says a 500% rally in Dogecoin may be in the works.

但是現在，作為一位著名的加密分析師說，Dogecoin粉絲慶祝的另一個重要原因可能會有500％的狗狗蛋白集會。

What Happened: At the moment, Dogecoin is trading at around $0.16. The price has been in a range-bound motion, moving between $0.14 and $0.16 since late March. This sideways movement is often associated with an accumulation phase, where investors are focused on entering or adding to their positions.

發生的事情：目前，Dogecoin的交易價格約為0.16美元。自3月下旬以來，價格一直處於範圍內的動作，在0.14美元至0.16美元之間。這種側向運動通常與積累階段有關，其中投資者專注於進入或增加其職位。

Dogecoin is now approaching a crucial support zone. It’s also nearing a breakout above the 20-day Exponential Moving Average (EMA), which is located at around $0.1606. A break above this level could clear the way for a move toward $0.20. That price level was last hit in early March and again later that month.

Dogecoin現在正在接近關鍵的支撐區。它也接近超過20天的指數移動平均線（EMA）的突破，該平均值約為0.1606美元。超過此水平的休息可能會為朝$ 0.20的轉移掃清道路。該價格水平在3月初和該月晚些時候再次達到。

Chart: Benzinga Pro

圖表：Pro到汽油

Relative Strength Index (RSI) is a tool used by traders to gauge the magnitude of price movements. When the RSI is above its moving average, it indicates that more traders are leaning bullish. However, an RSI reading above 50 indicates that buyers have an edge over sellers, while readings below 50 suggest that sellers are in control.

相對強度指數（RSI）是交易者用來評估價格變動幅度的工具。當RSI高於其移動平均水平時，它表明越來越多的交易者傾向於看漲。但是，RSI讀數以上50表示，買家比賣家有優勢，而50歲以下的讀數表明賣家處於控制狀態。

While the RSI is showing signs of improvement and is now above its moving average, it is still below the 50 level. This suggests that while buyers are becoming stronger, the market has not yet transitioned into a strong bullish trend.

雖然RSI顯示出改進的跡象，並且現在高於其移動平均水平，但仍低於50級。這表明，儘管買家變得越來越強大，但市場尚未轉變為強烈的看漲趨勢。

Despite the positive developments, the broader trend is still slightly bearish. Dogecoin has yet to make a decisive move above the 20-day EMA, and trading volume has not shown a significant increase.

儘管有積極的發展，但更廣泛的趨勢仍然有些看跌。 Dogecoin尚未在20天的EMA上做出決定性的行動，而且交易量並未顯示出顯著增加。

While the mood is improving, it’s not exactly brimming with excitement yet. But that might soon change.

雖然心情正在改善，但尚未充滿興奮。但這可能很快就會改變。

What One Analyst Is Saying: Crypto expert Steph, known online as @Steph_iscrypto, spotted an interesting pattern when examining past charts of Dogecoin. Before Dogecoin experienced a 500% surge earlier this year, it underwent a 129-day downward trend.

一位分析師在說的是：在線@steph_iscrypto在線被稱為@Steph_iscrypto，在檢查過去的Dogecoin圖表時發現了一個有趣的模式。在今年早些時候Dogecoin經歷了500％的激增之前，它發生了129天的下降趨勢。

During that period, DOGE rose from $0.08 to over $0.40. Now, Steph believes the same scenario might be unfolding again. He described it as a “bottom signal,” which is a term used in technical analysis to denote a point where a downtrend is likely to reverse.

在此期間，Doge從0.08美元上漲至$ 0.40。現在，斯蒂芬認為同樣的情況可能會再次發展。他將其描述為“底部信號”，這是在技術分析中用來表示下降趨勢可能逆轉的術語。

This type of recurring setup is something traders keep an eye on as it could indicate that the current price zone might serve as a launching pad for a substantial rally.

這種重複的設置是交易者一直在關注的事情，因為它可能表明當前的價格區可能是實質性集會的發射台。

“They say history repeats itself, and in the crypto markets, that statement couldn’t be truer. After a 129-day decline, #Dogecoin finally appears to be setting up for a strong move to the upside.”

“他們說歷史重複了，在加密貨幣市場中，這種說法再也不會更真實。在衰落了129天之後，#DogeCoin終於似乎正在為上漲而做出強烈的行動。”

This time, the crypto behemoth had been moving sideways. But now, with signs of a bottom forming and a possible breakout from the 20-day EMA in sight, the stage seems set for a final push toward $0.20, setting the scene for a 500% rally from the lows hit earlier this year.

這次，加密龐然大物一直在側面移動。但是，現在，由於看到了20天EMA的底部形成跡象，因此舞台似乎將最終推向0.20美元，從而使現場與今年早些時候的低點進行了500％的集會。

See more: Best Cryptocurrency Scanners

查看更多：最佳加密貨幣掃描儀

Why It Matters: Financial institutions are applying to launch exchange-traded funds that would track the price of DOGE. These ETFs would provide an easy way for people to invest in DOGE through normal stock markets.

這是為何重要的：金融機構正在申請啟動交易所交易的資金，以跟踪Doge的價格。這些ETF將為人們提供一種簡單的方式，讓人們通過普通的股票市場投資Doge。

Among the companies that have applied to the U.S. Securities and Exchange Commission are Bitwise, Grayscale, 21Shares and Rex Shares.

在向美國證券交易委員會申請的公司中，有位，灰度，21shares和Rex股票。

If approved, these ETFs could bring in a lot of new money to invest in DOGE, which many experts believe could help to quickly increase the price of the cryptocurrency.

如果獲得批准，這些ETF可能會帶來很多新資金來投資於Doge，許多專家認為這可以幫助快速提高加密貨幣的價格。

Last month, an expert at Glassnode said that the approval of a Bitcoin ETF by the SEC could push up the price of the world’s largest cryptocurrency.

上個月，GlassNode的一位專家表示，SEC獲得比特幣ETF的批准可以推高世界上最大的加密貨幣的價格。

“We’ve seen Bitcoin struggle to break above the $50,000 level despite a flurry of positive developments in the crypto space recently.”

“儘管最近在加密貨幣領域取得了積極的發展，但我們已經看到比特幣努力超越了50,000美元的水平。”

“However, I believe that the approval of a spot Bitcoin ETF by the SEC could be the catalyst that pushes Bitcoin above $50,000 and sets the stage for a continuation of the bull market.”

“但是，我認為SEC的現貨比特幣ETF的批准可能是將比特幣超過50,000美元的催化劑，並為繼續牛市的持續奠定了基礎。”

What Now: At present, the price of Dogecoin is relatively calm, but beneath the surface, things are heating up.

現在：目前，Dogecoin的價格相對平靜，但是在表面下方，事情正在加熱。

With the price stabilizing, charts showing early signs of a move, big investors watching and history potentially repeating itself, if everything aligns, Dogecoin could be in line for one of its biggest runs yet.

隨著價格穩定的穩定，圖表顯示了舉動的早期跡象，大型投資者觀看和歷史可能會重複自己，如果一切都保持一致，Dogecoin可能會排在其迄今為止最大的比賽之一。