Dogecoin (DOGE), the largest memecoin by market capitalization, remains highly synchronized with Bitcoin's (BTC) price action. Most importantly, the large-cap memecoin, with a fully diluted valuation of about $23.5 billion and a 24-hour average trading volume of about $1 billion, has been recording a similar fractal pattern to the 2021 and 2017 bull cycles.

Dogecoin（Doge）是市值最大的Memecoin，它仍然與比特幣（BTC）的價格行動高度同步。最重要的是，大型股票紀念品的估值完全約為235億美元，平均交易量約為10億美元，其分形模式與2021年和2017年的牛週期相似。

As a result, the odds of a major parabolic rally before the end of 2025 remain palpable, especially catalyzed by the notable rally of Gold price.

結果，在2025年底之前進行的主要拋物線集會的機率仍然可以顯著，尤其是由於著名的金價集會而催化的。

Delayed Altseason Threatens Short-term Dogecoin Price Outlook

延遲的Alteason威脅短期Dogecoin價格前景

The involvement of the government in the crypto market through complex global regulations has significantly impacted the four-year crypto cycle. During the 2021 crypto cycle, most of the altcoins were in price discovery during the second quarter, with large-cap altcoins having reached respective peaks.

通過複雜的全球法規，政府參與加密貨幣市場已嚴重影響了四年的加密週期。在2021年的加密週期中，大多數山寨幣在第二季度都在價格發現中，大型股票Altcoins達到了峰值。

According to crypto analyst Benjamin Cowen, the altcoin market will continue to bleed to Bitcoin in the near term. The crypto analyst expects Bitcoin dominance to reach 66 percent in the coming weeks, thus causing altcoins to drop another 10-20 percent.

據加密分析師本傑明·考恩（Benjamin Cowen）稱，替代幣市場將在短期內繼續流血。加密分析師預計，在接下來的幾週內，比特幣優勢將達到66％，從而導致山寨幣下降了10-20％。

In the daily timeframe, the DOGE price has been retesting a crucial logarithmic support level established since 2023. Although DOGE price has signaled a breakout from a YTD falling logarithmic trend, the MACD and Relative Strength Index (RSI) have not yet signaled the onset of bullish sentiment.

在每日時間範圍內，總督價格一直在重新測試自2023年以來建立的關鍵對數支持水平。儘管Doge價格表明，YTD下降的對數趨勢的突破，MACD和相對強度指數（RSI）尚未表明牛市的發作。

As a result, DOGE’s price is well positioned to drop towards 14 cents again before rebounding towards price discovery soon.

結果，Doge的價格有能力再次跌入14美分，然後很快就會回彈。

DOGE’s Bigger Picture

多吉的大局

Backed by a robust online community of more than 6 million on-chain holders, Dogecoin has grown to be a major crypto asset. Most importantly, the unwavering support from tech billionaire Elon Musk and his family of unicorns has helped attract more institutional support.

在一個由超過600萬個鍊子持有人組成的強大在線社區的支持下，Dogecoin已成為主要的加密資產。最重要的是，科技億萬富翁埃隆·馬斯克（Elon Musk）及其獨角獸家族的堅定支持有助於吸引更多的機構支持。

Already, several fund managers have filed with the U.S. SEC to offer spot DOGE ETFs. Meanwhile, Dogecoin's core developers are seeking to expand the network to cover the DeFi ecosystem.

已經有幾位基金經理向美國SEC申請了Doge ETF。同時，Dogecoin的核心開發人員正在尋求擴展網絡以覆蓋Defi生態系統。

Furthermore, the DeFi ecosystem has helped top-tier layer one chains, such as Solana (SOL), remain competitive in the past two years.

此外，Defi生態系統在過去兩年中幫助頂級第一層連鎖店（例如Solana（Sol））保持競爭力。