Crypto investment firm 21Shares has challenged the common perception of Dogecoin (DOGE) as a ‘memecoin’ in a new report. According to the firm’s analysis, a small 1% allocation to the cryptocurrency could be a strategic addition to investment portfolios.

加密投資公司21Shares在一份新報告中挑戰了對Dogecoin（Doge）的普遍看法。根據該公司的分析，對加密貨幣的1％分配可能是投資組合的戰略補充。

In a recent analysis by 21Shares, they explored the impact of adding a 1% Dogecoin allocation to a "Bitcoin-enhanced growth portfolio." This portfolio was defined as a traditional 60/40 portfolio (60% stocks, 40% bonds) with an additional 3% Bitcoin allocation.

在21shares的最新分析中，他們探索了將1％的狗狗蛋白分配到“比特幣增強的增長組合”中的影響。該投資組合被定義為傳統的60/40投資組合（60％股票，40％債券），並額外分配了3％的比特幣。

The goal was to examine how Dogecoin and Bitcoin might complement each other in a portfolio that most cryptocurrency investors would be familiar with.

目的是研究多數加密貨幣投資者會熟悉的投資組合中狗狗和比特幣如何相互補充。

Their findings indicate that even a minimal addition of 1% to Dogecoin resulted in improvements in both returns and risk-adjusted performance.

他們的發現表明，即使對Dogecoin的1％添加1％也會改善回報和風險調整後的性能。

According to their data, every portfolio approach including Dogecoin delivered stronger returns than the benchmark. While the benchmark portfolio displayed annual returns of 7.25%, the DOGE-enhanced portfolios achieved returns as high as 8.95%.

根據他們的數據，包括Dogecoin在內的每種投資組合方法都比基準提供了更高的回報。雖然基準投資組合的年收益率為7.25％，但總督增強的投資組合的收益率高達8.95％。

Furthermore, they observed improvements in Sharpe ratios in almost all test cases, denoting better risk-adjusted returns. The analysis also highlighted a slight increase in volatility with the inclusion of Dogecoin.

此外，他們觀察到幾乎所有測試案例的夏普比率的改善，表示更好的風險調整後收益。分析還強調了隨著狗狗蛋白的包含而略有增加的波動性。

However, they noted that drawdowns remained "largely contained." Even portfolios with no rebalancing saw max drawdowns only deepen by a few percentage points, which 21Shares interprets as evidence that “even a 1% DOGE allocation adds meaningful punch without destabilizing the broader portfolio.”

但是，他們指出，縮減仍然“大部分包含”。即使沒有重新平衡的投資組合也只能加深幾個百分點，這將使21shares解釋為“即使是1％的DOGE分配也會增加有意義的拳頭，而不會破壞更廣泛的投資組合。”

DOGE price prediction

Doge價格預測

21Shares also shared three potential price scenarios for Dogecoin by 2025. This ranges from bearish to bullish projections. In their bull case scenario, they suggest the Dogecoin price could reach approximately $1.42. This is a 7.67x multiple from current prices.

21Shares到2025年還分享了Dogecoin的三個潛在價格情景。從看跌到看漲的預測範圍。在他們的公牛案例中，他們認為Dogecoin的價格可能達到約1.42美元。這是來自當前價格的7.67倍。

This optimistic projection is based on analyzing Dogecoin’s growth pattern from previous market cycles. The analysis notes that DOGE’s price moved from a bottom of $0.007 before the last bull run to $0.0585 at the bottom of the current cycle. This is a compound annual growth rate (CAGR) of 189%. Applying similar growth metrics forward leads to the $1.42 price target.

這種樂觀的預測是基於分析以前市場週期的Dogecoin的增長模式。分析指出，在當前週期的底部，Doge的價格從上次公牛運行之前從0.007美元轉移到0.0585美元。這是189％的複合年增長率（CAGR）。採用類似的增長指標遠射導致目標價1.42美元。

In their neutral case scenario, 21Shares forecasts a $1.00 price target. This is approximately a 5.5x increase from current levels. This places the overall market capitalization of the cryptocurrency at $5 trillion in this cycle with Dogecoin adding a 3% market share. This would translate into a $150 billion market cap for DOGE.

在中立案例中，21shares預測目標價格為1.00美元。這比當前水平增加了約5.5倍。這使加密貨幣的總體市值在這個週期中為5萬億美元，而Dogecoin增加了3％的市場份額。這將轉化為Doge市值1500億美元。

The bear case is more conservative with an estimated target price of $0.38. This case employs the premise that Dogecoin cannot print a new all-time high in the current market cycle for the very first time in its existence. It may still provide positive returns based on an estimated 10% CAGR from its peak of $0.73 in 2021.

熊案更加保守，估計目標價為0.38美元。此案採用這樣的前提，即Dogecoin無法在當前的市場週期中首次打印出新的歷史最高水平。它仍可以2021年0.73美元的高峰估計10％的複合年增長率提供正回報。