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?

到目前为止，Dogecoin Price一直在努力退出其3月和4月的底部范围。但是，模因硬币的国王能否建立看涨的动力，并在恢复道路上找到途径，尤其是在失败的集会尝试之后？

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

就像大多数顶级硬币一样，Dogecoin Price自4月的第二周以来就从熊那里得到了一些缓解。

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

但是，疲软的需求确保了它难以反弹强劲，并且大部分一直在侧向移动。

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

尽管Dogecoin的价格努力保持向上的恢复轨迹，但一些分析师仍然对其看涨前景保持乐观。

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

尤其是一项分析指出，Dogecoin平行通道可能表明可能很快就会发生重大反弹。

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.

从2016年到2016年，历史性的价格行动表明，多个平行渠道持续了数周。这些渠道先于重大价格转移。

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.

迄今为止，Doge Price自2023年以来已经经历了三个主要的平行渠道。最新的是12月高点的回调，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，这些平行渠道可以引入前沿的重大迁移。

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

RSI Divergence是否仍会为Dogecoin价格的另一种看涨行动铺平道路吗？

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月的第一周结束时取得了较低的低点，而3月份的价格最低。

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

同时，相应的RSI低点形成了一种差异，预计会引发看涨的举动。

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差异通常标志着前方的潜在枢轴。但是，Dogecoin上周的表现相对侧面，因此并没有取得太大的上涨。这尤其是关于模因硬币是否仍然可以实现集会的疑问。

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

看涨的结果不仅与价格RSI的分歧相符，而且还与平行渠道保持一致。

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

到目前为止，多个指标表明，Doge价格可能会恢复其看涨势头的可能性。

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

其中包括周末中MFI的上升空间，这表明流动性流入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.

另一个关键观察是，上周的现场流出降低到2024年10月下旬出现的最后水平。

Dogecoin Derivatives Activity on the Rise

Dogecoin衍生物的活动兴起

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

Doge Price Action上周经历了低波动性，但本周可能刚刚以不同的方式开始。

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

本周较高波动性预期的主要原因是衍生品活动最近的激增。

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.

衍生工具量增长了16.57％，而期权量在过去24小时内的大量增长率为230.64％。在同一时期，Dogecoin选项开放利息飙升了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.

这种衍生品活性的这种显着激增通常与预期基础资产会经历相当大的方向运动的期望有关。

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

最新的活动还伴随着积极的资金率，这表明衍生品交易者预计会采取行动。

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，这种期望也倾向于为杠杆清算铺平道路。 Coinglass数据显示，在观察时的最后24小时内，Dogecoin清算飙升至284万美元。

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

他们中的大多数（217万美元）是长期清算，这是因为在过去2小时内价格略有下跌。

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

Dogecoin的性能强调了需求较弱，并且在普遍的不确定条件下无法反弹强劲。

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.

模因硬币的国王是否会反弹强烈尚待观察。 Doge是第四季度2024年拉力赛期间表现最好的硬币之一，但此后已经放弃了这些收益。

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，通过转移不利于风险的资产不利的经济状况来阻止Memecoin以及整个加密货币市场的其余部分。

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

随着削减速度的可能性，强劲的短期反弹的前景正在减少。