Dogecoin (CRYPTO: DOGE) fans celebrated DogeDay on April 20 — a yearly event that began in 2021 with the playful online holiday on April 20, also known as 4/20.

Dogecoin（Crypto：Doge）的粉丝于4月20日庆祝Dogeday，这是一年一度的活动，于2021年开始，在4月20日嬉戏的在线假期（也称为4/20）。

But now, there could be another big reason for Dogecoin fans to celebrate as a well-known crypto analyst says a 500% rally in Dogecoin may be in the works.

但是现在，作为一位著名的加密分析师说，Dogecoin粉丝庆祝的另一个重要原因可能会有500％的狗狗蛋白集会。

What Happened: At the moment, Dogecoin is trading at around $0.16. The price has been in a range-bound motion, moving between $0.14 and $0.16 since late March. This sideways movement is often associated with an accumulation phase, where investors are focused on entering or adding to their positions.

发生的事情：目前，Dogecoin的交易价格约为0.16美元。自3月下旬以来，价格一直处于范围内的动作，在0.14美元至0.16美元之间。这种侧向运动通常与积累阶段有关，其中投资者专注于进入或增加其职位。

Dogecoin is now approaching a crucial support zone. It’s also nearing a breakout above the 20-day Exponential Moving Average (EMA), which is located at around $0.1606. A break above this level could clear the way for a move toward $0.20. That price level was last hit in early March and again later that month.

Dogecoin现在正在接近关键的支撑区。它也接近超过20天的指数移动平均线（EMA）的突破，该平均值约为0.1606美元。超过此水平的休息可能会为朝$ 0.20的转移扫清道路。该价格水平在3月初和该月晚些时候再次达到。

Chart: Benzinga Pro

图表：Pro到汽油

Relative Strength Index (RSI) is a tool used by traders to gauge the magnitude of price movements. When the RSI is above its moving average, it indicates that more traders are leaning bullish. However, an RSI reading above 50 indicates that buyers have an edge over sellers, while readings below 50 suggest that sellers are in control.

相对强度指数（RSI）是交易者用来评估价格变动幅度的工具。当RSI高于其移动平均水平时，它表明越来越多的交易者倾向于看涨。但是，RSI读数以上50表示，买家比卖家有优势，而50岁以下的读数表明卖家处于控制状态。

While the RSI is showing signs of improvement and is now above its moving average, it is still below the 50 level. This suggests that while buyers are becoming stronger, the market has not yet transitioned into a strong bullish trend.

虽然RSI显示出改进的迹象，并且现在高于其移动平均水平，但仍低于50级。这表明，尽管买家变得越来越强大，但市场尚未转变为强烈的看涨趋势。

Despite the positive developments, the broader trend is still slightly bearish. Dogecoin has yet to make a decisive move above the 20-day EMA, and trading volume has not shown a significant increase.

尽管有积极的发展，但更广泛的趋势仍然有些看跌。 Dogecoin尚未在20天的EMA上做出决定性的行动，而且交易量并未显示出显着增加。

While the mood is improving, it’s not exactly brimming with excitement yet. But that might soon change.

虽然心情正在改善，但尚未充满兴奋。但这可能很快就会改变。

What One Analyst Is Saying: Crypto expert Steph, known online as @Steph_iscrypto, spotted an interesting pattern when examining past charts of Dogecoin. Before Dogecoin experienced a 500% surge earlier this year, it underwent a 129-day downward trend.

一位分析师在说的是：在线@steph_iscrypto在线被称为@Steph_iscrypto，在检查过去的Dogecoin图表时发现了一个有趣的模式。在今年早些时候Dogecoin经历了500％的激增之前，它发生了129天的下降趋势。

During that period, DOGE rose from $0.08 to over $0.40. Now, Steph believes the same scenario might be unfolding again. He described it as a “bottom signal,” which is a term used in technical analysis to denote a point where a downtrend is likely to reverse.

在此期间，Doge从0.08美元上涨至$ 0.40。现在，斯蒂芬认为同样的情况可能会再次发展。他将其描述为“底部信号”，这是在技术分析中用来表示下降趋势可能逆转的术语。

This type of recurring setup is something traders keep an eye on as it could indicate that the current price zone might serve as a launching pad for a substantial rally.

这种重复的设置是交易者一直在关注的事情，因为它可能表明当前的价格区可能是实质性集会的发射台。

“They say history repeats itself, and in the crypto markets, that statement couldn’t be truer. After a 129-day decline, #Dogecoin finally appears to be setting up for a strong move to the upside.”

“他们说历史重复了，在加密货币市场中，这种说法再也不会更真实。在衰落了129天之后，#DogeCoin终于似乎正在为上涨而做出强烈的行动。”

This time, the crypto behemoth had been moving sideways. But now, with signs of a bottom forming and a possible breakout from the 20-day EMA in sight, the stage seems set for a final push toward $0.20, setting the scene for a 500% rally from the lows hit earlier this year.

这次，加密庞然大物一直在侧面移动。但是，现在，由于看到了20天EMA的底部形成迹象，因此舞台似乎将最终推向0.20美元，从而使现场与今年早些时候的低点进行了500％的集会。

See more: Best Cryptocurrency Scanners

查看更多：最佳加密货币扫描仪

Why It Matters: Financial institutions are applying to launch exchange-traded funds that would track the price of DOGE. These ETFs would provide an easy way for people to invest in DOGE through normal stock markets.

这是为何重要的：金融机构正在申请启动交易所交易的资金，以跟踪Doge的价格。这些ETF将为人们提供一种简单的方式，让人们通过普通的股票市场投资Doge。

Among the companies that have applied to the U.S. Securities and Exchange Commission are Bitwise, Grayscale, 21Shares and Rex Shares.

在向美国证券交易委员会申请的公司中，有位，灰度，21shares和Rex股票。

If approved, these ETFs could bring in a lot of new money to invest in DOGE, which many experts believe could help to quickly increase the price of the cryptocurrency.

如果获得批准，这些ETF可能会带来很多新资金来投资于Doge，许多专家认为这可以帮助快速提高加密货币的价格。

Last month, an expert at Glassnode said that the approval of a Bitcoin ETF by the SEC could push up the price of the world’s largest cryptocurrency.

上个月，GlassNode的一位专家表示，SEC获得比特币ETF的批准可以推高世界上最大的加密货币的价格。

“We’ve seen Bitcoin struggle to break above the $50,000 level despite a flurry of positive developments in the crypto space recently.”

“尽管最近在加密货币领域取得了积极的发展，但我们已经看到比特币努力超越了50,000美元的水平。”

“However, I believe that the approval of a spot Bitcoin ETF by the SEC could be the catalyst that pushes Bitcoin above $50,000 and sets the stage for a continuation of the bull market.”

“但是，我认为SEC的现货比特币ETF的批准可能是将比特币超过50,000美元的催化剂，并为继续牛市的持续奠定了基础。”

What Now: At present, the price of Dogecoin is relatively calm, but beneath the surface, things are heating up.

现在：目前，Dogecoin的价格相对平静，但是在表面下方，事情正在加热。

With the price stabilizing, charts showing early signs of a move, big investors watching and history potentially repeating itself, if everything aligns, Dogecoin could be in line for one of its biggest runs yet.

随着价格稳定的稳定，图表显示了举动的早期迹象，大型投资者观看和历史可能会重复自己，如果一切都保持一致，Dogecoin可能会排在其迄今为止最大的比赛之一。