Dogecoin (DOGE), the largest memecoin by market capitalization, remains highly synchronized with Bitcoin's (BTC) price action. Most importantly, the large-cap memecoin, with a fully diluted valuation of about $23.5 billion and a 24-hour average trading volume of about $1 billion, has been recording a similar fractal pattern to the 2021 and 2017 bull cycles.

Dogecoin（Doge）是市值最大的Memecoin，它仍然与比特币（BTC）的价格行动高度同步。最重要的是，大型股票纪念品的估值完全约为235亿美元，平均交易量约为10亿美元，其分形模式与2021年和2017年的牛周期相似。

As a result, the odds of a major parabolic rally before the end of 2025 remain palpable, especially catalyzed by the notable rally of Gold price.

结果，在2025年底之前进行的主要抛物线集会的几率仍然可以显着，尤其是由于著名的金价集会而催化的。

Delayed Altseason Threatens Short-term Dogecoin Price Outlook

延迟的Alteason威胁短期Dogecoin价格前景

The involvement of the government in the crypto market through complex global regulations has significantly impacted the four-year crypto cycle. During the 2021 crypto cycle, most of the altcoins were in price discovery during the second quarter, with large-cap altcoins having reached respective peaks.

通过复杂的全球法规，政府参与加密货币市场已严重影响了四年的加密周期。在2021年的加密周期中，大多数山寨币在第二季度都在价格发现中，大型股票Altcoins达到了峰值。

According to crypto analyst Benjamin Cowen, the altcoin market will continue to bleed to Bitcoin in the near term. The crypto analyst expects Bitcoin dominance to reach 66 percent in the coming weeks, thus causing altcoins to drop another 10-20 percent.

据加密分析师本杰明·考恩（Benjamin Cowen）称，替代币市场将在短期内继续流血。加密分析师预计，在接下来的几周内，比特币优势将达到66％，从而导致山寨币下降了10-20％。

In the daily timeframe, the DOGE price has been retesting a crucial logarithmic support level established since 2023. Although DOGE price has signaled a breakout from a YTD falling logarithmic trend, the MACD and Relative Strength Index (RSI) have not yet signaled the onset of bullish sentiment.

在每日时间范围内，总督价格一直在重新测试自2023年以来建立的关键对数支持水平。尽管Doge价格表明，YTD下降的对数趋势的突破，MACD和相对强度指数（RSI）尚未表明牛市的发作。

As a result, DOGE’s price is well positioned to drop towards 14 cents again before rebounding towards price discovery soon.

结果，Doge的价格有能力再次跌入14美分，然后很快就会回弹。

DOGE’s Bigger Picture

多吉的大局

Backed by a robust online community of more than 6 million on-chain holders, Dogecoin has grown to be a major crypto asset. Most importantly, the unwavering support from tech billionaire Elon Musk and his family of unicorns has helped attract more institutional support.

在一个由超过600万个链子持有人组成的强大在线社区的支持下，Dogecoin已成为主要的加密资产。最重要的是，科技亿万富翁埃隆·马斯克（Elon Musk）及其独角兽家族的坚定支持有助于吸引更多的机构支持。

Already, several fund managers have filed with the U.S. SEC to offer spot DOGE ETFs. Meanwhile, Dogecoin's core developers are seeking to expand the network to cover the DeFi ecosystem.

已经有几位基金经理向美国SEC申请了Doge ETF。同时，Dogecoin的核心开发人员正在寻求扩展网络以覆盖Defi生态系统。

Furthermore, the DeFi ecosystem has helped top-tier layer one chains, such as Solana (SOL), remain competitive in the past two years.

此外，Defi生态系统在过去两年中帮助顶级第一层连锁店（例如Solana（Sol））保持竞争力。