As the crypto prices continue to swing to the market’s changing tune, Dogecoin price has been showing some signs of seller exhaustion.

隨著加密價格繼續轉向市場不斷變化的曲調，Dogecoin的價格一直表現出賣方疲憊的跡象。

Recent data suggest that bullish optimism is making a comeback. But could the observations pave the way for a strong demand surge?

最近的數據表明，看漲樂觀正在捲土重來。但是，觀察結果可以為強勁的需求激增鋪平道路嗎？

Dogecoin price action demonstrated lower sell pressure in the last 6 weeks, compared to the period between mid-January and the second week of March.

與1月中旬至3月的第二週之間的期間相比，在過去6週內，Dogecoin的價格行動顯示出較低的銷售壓力。

An outcome that many analysts see as a slowdown in sell pressure. More importantly, both spot and derivatives data align with the perceived loss of momentum by the bears.

許多分析人士認為賣出壓力的結果。更重要的是，斑點和衍生物數據都與熊所感知的動量喪失保持一致。

For context, Dogecoin open interest was up by over 5% and options volume surged by more than 200% in the last 24 hours.

在上下文中，Dogecoin開放興趣上漲了5％以上，並且在過去24小時內，期權量飆升了200％以上。

The surge in options volumes and open interest was a sign of renewed interest in the derivatives segment.

期權量和開放興趣的激增表明對衍生品細分市場有了重新興趣。

In addition, funding rates remained on the positive side indicating that the DOGE’s activity in the derivatives segment was mostly bullish.

此外，資金率仍然位於積極方面，表明門多格在衍生品細分市場中的活動主要是看好的。

Coinglass orderbook statistics revealed that over $2.7 million worth of perpetual buys occurred on OKX and Binance in the last 3 days.

Coinglass Orderbook統計數據顯示，過去3天在OKX和Binance上發生了超過270萬美元的永久性購買。

Meanwhile, spot movements indicated that large trades in the value of $1.38 million occurred during the same period on Coinbase, Binance and OKX.

同時，現場移動表明，在同一時期，在Coinbase，Binance和OKX的同一時期，價值為138萬美元的巨額交易。

Dogecoin Spot Outflows Dip to the Lowest Levels Observed So Far in 2025

Dogecoin斑點流出傾向至到目前為止觀察到的最低水平

Dogecoin spot flows have been mostly bearish since near mid-November. This was around the same time that profit-taking intensified after the November rally.

自11月中旬以來，Dogecoin的斑點流量主要是看跌。這是在11月集會之後盈利加劇的同一時間。

Spot outflows remained dominant since then although there were instances where spot inflows spiked here and there.

自那時以來，現場流出仍然是占主導地位的，儘管在某些情況下，這里和那裡的斑點流入峰值。

The low weak spot outflows signal that sell pressure tapered off which presented an opportunity for a demand resurgence.

低弱點流出信號，出售壓力逐漸減弱的信號為需求復興提供了機會。

This observation also aligned with the 90-day tariffs pause which means the markets have some time for composure before the tariff wars escalate again.

這一觀察結果還與90天的關稅停頓一致，這意味著在關稅戰爭再次升級之前，市場有一些時間來鎮定。

The dip in spot outflows also aligned with Dogecoin’s sideways price action. However, this also raised questions regarding the state of DOGE accumulation.

浸水流出也與Dogecoin的側向價格動作保持一致。但是，這也引發了有關總督積累狀態的疑問。

Now that the memecoin has been bearish since December, it was likely that the extended downside in the last 3 months was bound to start attracting demand.

現在，Memecoin自12月以來一直是看跌，在過去三個月中，延長的下跌一定會開始吸引需求。

Dogecoin Price Recap

Dogecoin價格回顧

Based on the above data, it was clear that demand for the memecoin was still weak, especially from the whale cohort.

基於上述數據，很明顯，對紀念因素的需求仍然很弱，尤其是鯨魚隊列的需求。

However, this does not necessarily mean that demand was non-existent. Dogecoin’s (DOGE) price action appeared to be experiencing support near the $0.15 price level with some interesting observations.

但是，這並不一定意味著需求不存在。 Dogecoin（Doge）的價格行動似乎正在經歷0.15美元的價格水平的支持，並進行了一些有趣的觀察。

Note that this was also the same price zone where the November 2024 rally kicked off. Dogecoin’s Money Flow indicator demonstrated a bit of an uptick since 9 April.

請注意，這也是2024年11月拉力賽開始的價格區。自4月9日以來，Dogecoin的貨幣流量指示器表現出了一些增加。

The MADC indicator also confirmed that volume has predominantly been in the green since then.

MADC指標還確認，從那時起，體積主要是綠色的。

The MFI’s uptick signaled an accelerating pace of accumulation within Dogecoin’s recent lows.

MFI的上升表明，在Dogecoin最近的低谷中積累的加速速度。

This outcome was also in line with the observed pace of price decline, which confirmed that he memecoin was in a zone of accumulation.

該結果也與觀察到的價格下降的速度一致，這證實了他的成員處於積累。

Will Memecoins Still Be Hot In The Next Bull Run?

在下一個公牛奔跑中，Memecoin仍然會很熱嗎？

Some key figures in the investment landscape including Ark Invest CEO Cathy Woods cast a shadow of doubt over the fate of memecoins.

包括方舟投資首席執行官凱茜·伍茲（Cathy Woods）在內的投資格局中的一些關鍵人物對成員的命運產生了懷疑。

Some analysts believe that the next bullish phase of the market will mostly focus on cryptocurrencies that offer utility.

一些分析師認為，下一個看漲的市場階段將主要集中在提供實用程序的加密貨幣上。

As a result, there have been some concerns about whether memecoins will still remain relevant.

結果，人們擔心Memecoins是否仍會保持相關性。

However, Dogecoin has been around for quite some time and still continues to demonstrate demand.

但是，Dogecoin已經存在了相當長的一段時間，並且仍在繼續證明需求。

Dogecoin’s price has in recent history, demonstrated a significant degree of correlation to Bitcoin.

Dogecoin的價格在最近的歷史上表現出與比特幣有很大的相關性。

Its OG memecoin status may still boost its relevance in the market. For now, Dogecoin price’s inability to bounce back strong is a reflection of the overall state of the market.

其OG Memecoin身份仍然可能提高其在市場上的相關性。目前，Dogecoin Price無法反彈強力反映出整體市場狀況。

Sentiment remains weak due to the uncertainty caused by the recent political-economic disruptions.

由於最近的政治經濟中斷造成的不確定性，情緒仍然很虛弱。