Dogecoin (CRYPTO: DOGE) price was up 8% over 24 hours and was trading at $0.2375 at the time of writing. The world’s 12th largest cryptocurrency was continuing to rally in May.

Dogecoin（加密：Doge）價格在24小時內上漲8％，在撰寫本文時的交易價格為0.2375美元。全球第十二大加密貨幣將在5月繼續集會。

Here’s a look at what happened and what’s next.

以下是發生什麼和下一步發生的事情。

What Happened: Dogecoin was able to trade higher and break out of an ascending channel on Wednesday. The technical breakout could be a driver for traders to continue buying the cryptocurrency.

發生的事情：Dogecoin能夠在周三的上升頻道上進行更高的交易並突破升級頻道。技術突破可能是交易者繼續購買加密貨幣的驅動力。

The crypto had been forming a bullish flag pattern, which is when a price increases sharply, then trades in a period of consolidation near the new high.

該加密貨幣一直在形成看漲的旗幟模式，這是價格急劇上升的時候，然後在新高中附近的合併時期進行交易。

A potential driver of the bullish momentum could be whale activity. Addresses holding between 1 million and 10 million DOGE had a balance of 10.56 billion tokens on May 20, up from 10.48 billion on May 10.

看漲勢頭的潛在驅動力可能是鯨魚活動。 5月20日，持有100萬至1000萬門的持有的地址為105.6億代幣，高於5月10日的104.8億。

Related Link: Bitcoin Reaches New All-Time High, Is Altcoin Season Next?

相關鏈接：比特幣達到了新的歷史最高水平，接下來是Altcoin季節嗎？

What Next: Dogecoin’s gains come as Bitcoin (CRYPTO: BTC) hit a new all-time high of $109,487. Several other altcoins have traded sharply higher.

下一步：Dogecoin的收益隨著比特幣（Crypto：BTC）的成績達到了新的$ 109,487。其他幾個Altcoins的交易幅度較高。

Dogecoin is up 43.96% in the last 30 days. Most of the gains came between May 7 and May 11.

在過去的30天中，Dogecoin上漲了43.96％。大部分收益來自5月7日至5月11日。

Bitcoin continues to hold the majority of investor interest. The “altcoin season” index remains at just 26 out of 100. This indicates that Bitcoin outperformed nearly three-quarters of the top 100 altcoins over the last 90 days.

比特幣繼續持有大多數投資者的興趣。 “ Altcoin季節”指數仍為100分中的26個。這表明比特幣在過去的90天中的表現優於前100名Altcoins中的近四分之三。

The majority of the top 100 altcoins are still in the red over the last 90 days. This includes major tokens like Solana (CRYPTO: SOL), Cardano (CRYPTO: ADA), Shiba Inu (CRYPTO: SHIB) and Dogecoin. Dogecoin is still down 8.31% over the last three months.

在過去的90天內，前100個山寨幣中的大多數仍處於紅色狀態。這包括Solana（加密貨幣：Sol），Cardano（加密：ADA），Shiba Inu（Crypto：Shib）和Dogecoin等主要令牌。在過去的三個月中，Dogecoin仍然下跌了8.31％。

But momentum for altcoins appears to be growing. The total altcoin market cap is at $1.27 trillion, up from $1.07 trillion at the start of May.

但是AltCoins的動力似乎正在增長。山寨幣市值為12.27萬億美元，高於5月初的1.07萬億美元。