Dogecoin has experienced heightened volatility over the last 48 hours, slipping from a brief peak of $0.185 to $0.172 at the time of writing. This price reversal places Dogecoin in a precarious position, once again threatening to fall below the $0.17 level that traders had hoped would flip into a new support base.

在過去的48小時內，Dogecoin的波動性增強了，從短暫的峰值下降到撰寫本文時的$ 0.185升至0.172美元。這種價格逆轉使狗狗幣處於不穩定的位置，再次威脅要低於交易者希望將變成新的支持基地的0.17級水平。

The sharp upswing and equally sharp retracement are the latest examples of DOGE’s erratic trading behavior, behavior that is now drawing comparisons to another macro-asset, Bitcoin’s performance against gold. A chart shared on social media platform X by Bloomberg Intelligence Senior Analyst Mike McGlone presents an eye-catching overlay of Dogecoin's market cap trajectory and the Bitcoin-to-gold price ratio. According to McGlone, these two assets have been moving in the same manner for some time, exhibiting what he referred to as "same-chart syndrome."

急劇上升和同樣敏銳的回溯是Doge不穩定的交易行為的最新示例，即現在正在比較另一個宏觀資產，比特幣對黃金的表現進行了比較。彭博情報高級分析師Mike McGlone在社交媒體平台X上共享的圖表介紹了Dogecoin的市值軌跡和比特幣與金幣的價格比例。據McGlone稱，這兩個資產在一段時間內一直以相同的方式移動，展示了他所謂的“同一曲目綜合徵”。

Particularly, the chart shared by the analyst shows that Dogecoin's market cap and the Bitcoin/gold cross have been moving in tandem since December 2024. His analysis highlights how both assets have respected an upward trendline over the past several months but warns that this support may not last much longer.

尤其是，分析師分享的圖表表明，自2024年12月以來，Dogecoin的市值和比特幣/黃金十字雜誌一直在同時進行。他的分析強調了兩種資產在過去幾個月中如何尊重上升的趨勢線，但警告說，這種支持可能不會持續更長的時間。

The chart also shows that both assets experienced a steep rise in the first quarter of 2024, followed by a period of consolidation and a lower high in the second quarter. Afterwards, both assets pulled back sharply, finally crashing to the same extent as they rose earlier in the year.

該圖表還顯示，兩種資產在2024年第一季度都急劇上升，隨後是一段鞏固，第二季度的高潮幅度較低。之後，兩種資產都急劇退縮，最終與今年早些時候上升的程度相同。

The resemblance between Dogecoin's chart and Bitcoin's performance relative to gold signals to McGlone that a bearish outcome may be imminent. The synchronized patterns between the two charts, both rising aggressively in 2024 and then pulling back to an ascending support line, suggest that DOGE may be entering a bearish cycle rather than a full-fledged bullish cycle.

Dogecoin的圖表與比特幣相對於McGlone的黃金信號的表現之間的相似之處，即看跌的結果可能是即將出現的。這兩個圖表之間的同步模式，均在2024年積極上升，然後返回到上升的支撐線，這表明Doge可能正在進入看跌循環，而不是成熟的Bullish循環。

Particularly, McGlone expects the ascending support trendline to eventually be breached very soon. This would also send the Dogecoin market cap crashing, contradicting the prevailing sentiment among analysts, who are predicting a larger rally for DOGE before the end of the year.

特別是，麥格隆希望最終將很快違反上升的支持趨勢線。這也將使Dogecoin市值崩潰，這與分析師之間的普遍情緒相矛盾，分析師預測在年底之前將為Doge舉行更大的集會。

However, McGlone did not base his bearish DOGE forecast solely on price action. In his post, he tied the predicted breakdown in both Dogecoin and Bitcoin/gold to broader macroeconomic developments, particularly the likelihood of a delayed recession hitting the US market.

但是，McGlone並沒有僅基於價格行動的看跌總督預測。在他的帖子中，他將Dogecoin和Bitcoin/Gold的預測分解與更廣泛的宏觀經濟發展聯繫在一起，尤其是延遲衰退的可能性。

"The U.S. recession window is closing, and the probability of a benign outcome for the world’s largest economy may be increasing, which could keep risky assets buoyant for a while longer," the analyst stated.

分析師說：“美國衰退窗口正在關閉，世界上最大經濟體的良性結果的可能性可能正在增加，這可能會使風險的資產持續一段時間。”

Notably, the ascending support line that has kept the Dogecoin market cap in place is currently around $22 billion, making this an important level to monitor. At the time of writing, DOGE is trading at $0.1720 with a market cap of $25.63 billion. Based on its current circulating supply of 148.98 billion, Dogecoin's market capitalization would fall below $22 billion if its price were to drop to $0.147.

值得注意的是，使Dogecoin市值的上升支持線目前約為220億美元，這使得這是一個重要的監控水平。在撰寫本文時，Doge的交易價格為0.1720美元，市值為256.3億美元。基於目前的1,489億美元的循環供應，如果價格降至0.147美元，Dogecoin的市值將低於220億美元。