As the crypto prices continue to swing to the market’s changing tune, Dogecoin price has been showing some signs of seller exhaustion.

随着加密价格继续转向市场不断变化的曲调，Dogecoin的价格一直表现出卖方疲惫的迹象。

Recent data suggest that bullish optimism is making a comeback. But could the observations pave the way for a strong demand surge?

最近的数据表明，看涨乐观正在卷土重来。但是，观察结果可以为强劲的需求激增铺平道路吗？

Dogecoin price action demonstrated lower sell pressure in the last 6 weeks, compared to the period between mid-January and the second week of March.

与1月中旬至3月的第二周之间的期间相比，在过去6周内，Dogecoin的价格行动显示出较低的销售压力。

An outcome that many analysts see as a slowdown in sell pressure. More importantly, both spot and derivatives data align with the perceived loss of momentum by the bears.

许多分析人士认为卖出压力的结果。更重要的是，斑点和衍生物数据都与熊所感知的动量丧失保持一致。

For context, Dogecoin open interest was up by over 5% and options volume surged by more than 200% in the last 24 hours.

在上下文中，Dogecoin开放兴趣上涨了5％以上，并且在过去24小时内，期权量飙升了200％以上。

The surge in options volumes and open interest was a sign of renewed interest in the derivatives segment.

期权量和开放兴趣的激增表明对衍生品细分市场有了重新兴趣。

In addition, funding rates remained on the positive side indicating that the DOGE’s activity in the derivatives segment was mostly bullish.

此外，资金率仍然位于积极方面，表明门多格在衍生品细分市场中的活动主要是看好的。

Coinglass orderbook statistics revealed that over $2.7 million worth of perpetual buys occurred on OKX and Binance in the last 3 days.

Coinglass Orderbook统计数据显示，过去3天在OKX和Binance上发生了超过270万美元的永久性购买。

Meanwhile, spot movements indicated that large trades in the value of $1.38 million occurred during the same period on Coinbase, Binance and OKX.

同时，现场移动表明，在同一时期，在Coinbase，Binance和OKX的同一时期，价值为138万美元的巨额交易。

Dogecoin Spot Outflows Dip to the Lowest Levels Observed So Far in 2025

Dogecoin斑点流出倾向至到目前为止观察到的最低水平

Dogecoin spot flows have been mostly bearish since near mid-November. This was around the same time that profit-taking intensified after the November rally.

自11月中旬以来，Dogecoin的斑点流量主要是看跌。这是在11月集会之后盈利加剧的同一时间。

Spot outflows remained dominant since then although there were instances where spot inflows spiked here and there.

自那时以来，现场流出仍然是占主导地位的，尽管在某些情况下，这里和那里的斑点流入峰值。

The low weak spot outflows signal that sell pressure tapered off which presented an opportunity for a demand resurgence.

低弱点流出信号，出售压力逐渐减弱的信号为需求复兴提供了机会。

This observation also aligned with the 90-day tariffs pause which means the markets have some time for composure before the tariff wars escalate again.

这一观察结果还与90天的关税停顿一致，这意味着在关税战争再次升级之前，市场有一些时间来镇定。

The dip in spot outflows also aligned with Dogecoin’s sideways price action. However, this also raised questions regarding the state of DOGE accumulation.

浸水流出也与Dogecoin的侧向价格动作保持一致。但是，这也引发了有关总督积累状态的疑问。

Now that the memecoin has been bearish since December, it was likely that the extended downside in the last 3 months was bound to start attracting demand.

现在，Memecoin自12月以来一直是看跌，在过去三个月中，延长的下跌一定会开始吸引需求。

Dogecoin Price Recap

Dogecoin价格回顾

Based on the above data, it was clear that demand for the memecoin was still weak, especially from the whale cohort.

基于上述数据，很明显，对纪念因素的需求仍然很弱，尤其是鲸鱼队列的需求。

However, this does not necessarily mean that demand was non-existent. Dogecoin’s (DOGE) price action appeared to be experiencing support near the $0.15 price level with some interesting observations.

但是，这并不一定意味着需求不存在。 Dogecoin（Doge）的价格行动似乎正在经历0.15美元的价格水平的支持，并进行了一些有趣的观察。

Note that this was also the same price zone where the November 2024 rally kicked off. Dogecoin’s Money Flow indicator demonstrated a bit of an uptick since 9 April.

请注意，这也是2024年11月拉力赛开始的价格区。自4月9日以来，Dogecoin的货币流量指示器表现出了一些增加。

The MADC indicator also confirmed that volume has predominantly been in the green since then.

MADC指标还确认，从那时起，体积主要是绿色的。

The MFI’s uptick signaled an accelerating pace of accumulation within Dogecoin’s recent lows.

MFI的上升表明，在Dogecoin最近的低谷中积累的加速速度。

This outcome was also in line with the observed pace of price decline, which confirmed that he memecoin was in a zone of accumulation.

该结果也与观察到的价格下降的速度一致，这证实了他的成员处于积累。

Will Memecoins Still Be Hot In The Next Bull Run?

在下一个公牛奔跑中，Memecoin仍然会很热吗？

Some key figures in the investment landscape including Ark Invest CEO Cathy Woods cast a shadow of doubt over the fate of memecoins.

包括方舟投资首席执行官凯茜·伍兹（Cathy Woods）在内的投资格局中的一些关键人物对成员的命运产生了怀疑。

Some analysts believe that the next bullish phase of the market will mostly focus on cryptocurrencies that offer utility.

一些分析师认为，下一个看涨的市场阶段将主要集中在提供实用程序的加密货币上。

As a result, there have been some concerns about whether memecoins will still remain relevant.

结果，人们担心Memecoins是否仍会保持相关性。

However, Dogecoin has been around for quite some time and still continues to demonstrate demand.

但是，Dogecoin已经存在了相当长的一段时间，并且仍在继续证明需求。

Dogecoin’s price has in recent history, demonstrated a significant degree of correlation to Bitcoin.

Dogecoin的价格在最近的历史上表现出与比特币有很大的相关性。

Its OG memecoin status may still boost its relevance in the market. For now, Dogecoin price’s inability to bounce back strong is a reflection of the overall state of the market.

其OG Memecoin身份仍然可能提高其在市场上的相关性。目前，Dogecoin Price无法反弹强力反映出整体市场状况。

Sentiment remains weak due to the uncertainty caused by the recent political-economic disruptions.

由于最近的政治经济中断造成的不确定性，情绪仍然很虚弱。