Dogecoin's uncapped supply (currently 149B DOGE) adds 5B new coins annually. While critics highlight this as inflationary pressure, developers maintain that:- Fixed block rewards (10k DOGE) mean inflation declines yearly (currently ~3.4% vs. 8% in 2023).

Dogecoin的无盖供应（目前为149B Doge）每年增加5B新硬币。批评家强调这是通货膨胀压力，但开发人员坚持认为： - 固定的块奖励（10K门槛）平均通货膨胀率每年下降（目前约3.4％，而2023年为8％）。

- Merge-mining with Litecoin ensures network security despite low transaction fees, rendering it largely irrelevant to users.

- 与Litecoin合并开采可确保尽管交易费用低，但仍与用户无关。

- Failed 2021-2025 proposals to cap supply at 250B kept the protocol stable but limited scarcity narratives, showcasing community priorities.

- 失败的2021-2025提案在250B上限定供应，使协议稳定但有限的稀缺性叙述保持了社区优先事项。

Dogecoin's path depends on whether ETF optimism and whale support outpace inflation worries and shaky technicals.

Dogecoin的道路取决于ETF乐观和鲸鱼是否支持超越通货膨胀的担忧和摇摇欲坠的技术。

Huge potential for Dogecoin if they get the nod on ETFs

如果Dogecoin在ETF上点头，巨大的潜力

A 68% chance of approval by December according to Polymarket

根据Polmarket的数据，12月之前获得了68％的批准机会

21Shares and Grayscale both have active filings for a spot Bitcoin ETF

21shares和灰度都有积极的比特币ETF的活跃文件

Optimism is certainly building

乐观肯定是在建立

But ultimately it’s up to the SEC to decide

但最终由SEC决定

Dogecoin price is struggling to break out of the $0.22 - $0.24 range despite a 30% rally in August

尽管八月份有30％的集会

Can it break out if the SEC grants approval for Bitcoin ETFs?

如果SEC批准比特币ETF，它会爆发吗？

If so, then we could really see the meme coin take off

如果是这样，那么我们真的可以看到模因硬币起飞

Especially considering that the apex coin has dropped to $104k recently

特别是考虑到Apex硬币最近已降至104K美元

Leading to a knock-on effect on altcoins

导致对Altcoins的连锁影响

Yet despite this setback, Dogecoin price is still up 18% over the last month

尽管如此，但狗狗的价格仍比上个月上涨18％

While also registering a 76% year-to-date return

同时还注册了76％的年退货

Perhaps this is down to the meme coin's meme-powered resilience

也许这取决于模因硬币的模因驱动的弹性

Or maybe it's the threat of a supply shock

也许这是供应冲击的威胁

As the top 100 wallets have been accumulating DOGE since January

自从一月份以来，前100个钱包一直在累积的门槛

In fact, they've already gobbled up 3.4B meme coins

实际上，他们已经吞噬了3.4B模因硬币

And they're not planning to stop there

他们不打算在那里停留

Optimism is certainly building towards the potential approval of Bitcoin ETFs by the Securities and Exchange Commission (SEC).

乐观肯定是为了获得证券交易委员会（SEC）的比特币ETF的潜在批准。

With a 68% chance of approval by December according to Polymarket, traders are setting bullish wagers.

据Polymarket称，在12月之前获得了68％的批准，交易者正在看涨看涨的赌注。

Both 21Shares and Grayscale have active filings for a spot Bitcoin ETF, which are currently being reviewed by the SEC.

21shares和Grayscale都有积极的比特币ETF文件，目前正在SEC审查。

This optimism is reflected in the August performance of Dogecoin price.

这种乐观反映在八月的狗狗价格表现中。

The meme coin is struggling to break out of the $0.22 - $0.24 range despite a 30% rally.

尽管有30％的拉力赛，但模因硬币仍在努力从0.22-0.24美元的范围中扣除。

But if we do see an explosiveness in crypto prices if the SEC grants approval for Bitcoin ETFs.

但是，如果SEC批准比特币ETF，我们确实会看到加密价格爆炸性。

This would be particularly ironic considering that the apex coin has dropped to $104k recently.

考虑到Apex硬币最近已降至104K美元，这尤其具有讽刺意味。

Leading to a knock-on effect on altcoins and sparking fears of a new bear market.

导致对Altcoins产生连锁反应，并引发人们对新熊市的担忧。

Yet despite this setback, Dogecoin price is still up 18% over the last month.

尽管如此，尽管如此，Dogecoin的价格仍比上个月上涨18％。

While also registering a 76% year-to-date return

同时还注册了76％的年退货

Perhaps this is down to the meme coin's meme-powered resilience or the threat of a supply shock.

也许这取决于模因硬币的模因驱动的弹性或供应冲击的威胁。

As the top 100 wallets have been accumulating DOGE since January.

自1月以来，由于前100个钱包一直在累积。

In fact, they've already gobbled up 3.4B meme coins

实际上，他们已经吞噬了3.4B模因硬币

Coins which were funded by outflows from exchanges

由交流流出资助的硬币

According to Glassnode, there has been 7-day net deposits into exchanges.

根据GlassNode的说法，交换中已经有7天的净沉积物。

This suggests that traders are taking some profits off the table.

这表明贸易商正在将一些利润从餐桌上拿走。

However, considering that the 50-day SMA is at $0.194 and we've seen lows of $0.169 in 2025 at the $0.14 Fibonacci level.

但是，考虑到50天的SMA为0.194美元，我们在2025年以0.14 $ 0.14的速度水平看到了0.169美元的低点。

Then perhaps traders will buy on dips if this support level is broken.

然后，如果此支持水平破裂，交易者也许会在跌幅上购买。

This would take the meme coin to lows not seen since 2024.

这将使模因硬币达到自2024年以来从未见过的低点。

Dogecoin price technical analysis: MACD divergence signals weakening momentum

Dogecoin价格技术分析：MACD发散信号削弱动量

Dogecoin price is struggling to break out of the $0.22 - $0.24 range despite a 30% rally in August.

尽管八月份有30％的集会，但Dogecoin Price仍在努力从0.22-0.24美元的范围中扣除。

This move has seen the meme coin rally above the 50-day SMA at $0.194 and the $0.14 Fibonacci level, which are key support levels to watch.

此举使Meme Coin Rally高于50天SMA的涨势为0.194美元，而斐波那契水平为0.14美元，这是值得关注的关键支持水平。

A decisive break above the $0.24 high could open the door towards the $0.28 Fibonacci level.

高于0.24美元高的果断中断可能打开了$ 0.28斐波那契水平的大门。

However, MACD divergence suggests that the meme coin's momentum may be weakening.

但是，MACD的分歧表明模因硬币的势头可能正在减弱。

The histogram is reading -0.004, which could indicate that the uptrend is slowing down.

直方图是读数-0.004，这可能表明上升趋势正在减慢。

This divergence usually occurs when the indicator is trending in one direction but the price action is moving in the opposite direction.

当指示器朝一个方向趋势而趋势时，这种差异通常发生，但是价格动作朝相反的方向移动。

In addition, the MACD line is still in positive territory, which bodes well for the meme coin in the short term.

此外，MACD线仍在正区域中，这在短期内为模因硬币提供了很好的体现。

But if the MACD line drops below the zero line,

但是，如果MACD线降到零行以下，