Dogecoin price has been struggling to exit its March and April bottom range so far. But could the king of the meme coins build up bullish momentum and find its way back on the recovery path especially after a failed rally attempt?

到目前為止，Dogecoin Price一直在努力退出其3月和4月的底部範圍。但是，模因硬幣的國王能否建立看漲的動力，並在恢復道路上找到途徑，尤其是在失敗的集會嘗試之後？

Just like most of top coins, Dogecoin price enjoyed some relieve from the bears since the second week of April.

就像大多數頂級硬幣一樣，Dogecoin Price自4月的第二週以來就從熊那裡得到了一些緩解。

However, weak demand ensured that it struggled to bounce back strong and has mostly been moving sideways.

但是，疲軟的需求確保了它難以反彈強勁，並且大部分一直在側向移動。

Despite Dogecoin price struggling to maintain an upward recovery trajectory, some analysts remained optimistic about its bullish prospects.

儘管Dogecoin的價格努力保持向上的恢復軌跡，但一些分析師仍然對其看漲前景保持樂觀。

One analysis in particular pointed out that Dogecoin parallel channels could signal that a major bounce may occur soon.

尤其是一項分析指出，Dogecoin平行通道可能表明可能很快就會發生重大反彈。

Historic price action from as far back as 2016 demonstrated that multiple parallel channels occurred lasting multiple weeks. Those channels preceded a major price move.

從2016年到2016年，歷史性的價格行動表明，多個平行渠道持續了數週。這些渠道先於重大價格轉移。

DOGE price has so far experienced three major parallel channels since 2023. The latest one was the pullback from December highs and it was also the steepest.

迄今為止，Doge Price自2023年以來已經經歷了三個主要的平行渠道。最新的是12月高點的回調，也是最陡峭的渠道。

The analysis suggests that those parallel channels could usher in a major move to the upside.

分析表明，這些平行渠道可以引入前沿的重大遷移。

Will RSI Divergence Still Pave The Way for Another Bullish Move For Dogecoin Price?

RSI Divergence是否仍會為Dogecoin價格的另一種看漲行動鋪平道路嗎？

DOGE price achieved a lower low at the end of the first week of April, compared to its lowest price in March.

Doge Price在4月的第一周結束時取得了較低的低點，而3月份的價格最低。

Meanwhile, the corresponding RSI lows formed a divergence that was expected to trigger a bullish move.

同時，相應的RSI低點形成了一種差異，預計會引發看漲的舉動。

A price-RSI divergence usually signals a potential pivot ahead. However, Dogecoin’s performance last week was relatively sideways hence it did not achieve much upside. This raises questions especially on whether the meme coin could still achieve a rally.

Price-RSI差異通常標誌著前方的潛在樞軸。但是，Dogecoin上週的表現相對側面，因此並沒有取得太大的上漲。這尤其是關於模因硬幣是否仍然可以實現集會的疑問。

A bullish outcome would not only align with the price-RSI divergence but also with the parallel channels.

看漲的結果不僅與價格RSI的分歧相符，而且還與平行渠道保持一致。

Multiple indicators have so far pointed to the possibility that DOGE price may regain its bullish momentum.

到目前為止，多個指標表明，Doge價格可能會恢復其看漲勢頭的可能性。

Among them include the MFI’s upside during the weekend which indicates that the pace of liquidity flow into DOGE was on the rise.

其中包括週末中MFI的上升空間，這表明流動性流入Doge的步伐正在上升。

Another key observation was that spot outflows last week cooled down to levels last seen in late October 2024.

另一個關鍵觀察是，上週的現場流出降低到2024年10月下旬出現的最後水平。

Dogecoin Derivatives Activity on the Rise

Dogecoin衍生物的活動興起

DOGE price action experienced low volatility last week but may have just kicked off this week on a different tune.

Doge Price Action上周經歷了低波動性，但本周可能剛剛以不同的方式開始。

A major reason for higher volatility expectations this week was the recent surge in derivatives activity.

本週較高波動性預期的主要原因是衍生品活動最近的激增。

Derivatives volumes were up 16.57%, while options volume registered a massive 230.64% uptick in the last 24 hours. Dogecoin options open interest surged by 127.71% during the same period.

衍生工具量增長了16.57％，而期權量在過去24小時內的大量增長率為230.64％。在同一時期，Dogecoin選項開放利息飆升了127.71％。

Such a significant surge in derivatives activity is usually associated with a surge in expectations that the underlying asset will experience a sizable directional move.

這種衍生品活性的這種顯著激增通常與預期基礎資產會經歷相當大的方向運動的期望有關。

The latest activity was also accompanied by positive funding rates, which suggests that derivatives traders anticipated a bullish move.

最新的活動還伴隨著積極的資金率，這表明衍生品交易者預計會採取行動。

However, such expectations also tend to pave the way for leveraged liquidations. Coinglass data revealed that Dogecoin liquidations in the last 24 hours at the time of observations surged to $2.84 million.

但是，這種期望也傾向於為槓桿清算鋪平道路。 Coinglass數據顯示，在觀察時的最後24小時內，Dogecoin清算飆升至284萬美元。

Majority of them ($2.17 million) were long liquidations, due to the slight dip in price within the last 2 hours.

他們中的大多數（217萬美元）是長期清算，這是因為在過去2小時內價格略有下跌。

Dogecoin’s performance underscores weak demand and its inability to bounce back strong under the prevailing uncertain conditions.

Dogecoin的性能強調了需求較弱，並且在普遍的不確定條件下無法反彈強勁。

Whether the king of the meme coins will bounce back strong remains to be seen. DOGE was one of the best performing coins during the Q4 2024 rally but it has since given up those gains.

模因硬幣的國王是否會反彈強烈尚待觀察。 Doge是第四季度2024年拉力賽期間表現最好的硬幣之一，但此後已經放棄了這些收益。

However, the memecoin along with the rest of the crypto market at large are held back by shifting economic conditions which have not been favorable for risk-on assets.

但是，通過轉移不利於風險的資產不利的經濟狀況來阻止Memecoin以及整個加密貨幣市場的其餘部分。

And with the possibility of rate cuts happening, the prospects of a strong short-term bounce back have been diminishing.

隨著削減速度的可能性，強勁的短期反彈的前景正在減少。