狗狗幣（加密貨幣：DOGE）今天再次表現出色

許多加密貨幣投資者最喜歡的迷因幣——狗狗幣（加密貨幣：DOGE）今天又迎來了令人印象深刻的表現。

The meme coin favorite among many crypto investors, Dogecoin (CRYPTO: DOGE), is seeing another strong performance today. As of 12:45 p.m. ET, this dog-inspired cryptocurrency is trading 7.7% higher over the past 24 hours, continuing a strong rally over the past several days and bringing the token's performance to over 185% to start the month.

許多加密貨幣投資者最喜愛的迷因幣狗狗幣（CRYPTO：DOGE）今天再次表現強勁。截至美國東部時間中午12:45，這種受狗啟發的加密貨幣的交易價格在過去24 小時內上漲了7.7%，延續了過去幾天的強勁反彈，並使該代幣的表現在月初達到了185% 以上。

Most of Dogecoin's recent performance has, of course, been tied to the former president Donald Trump reelection campaign. This token saw single-day surges of more than 20% following the election news and has nearly tripled in valuation in just a month. Clearly, Elon Musk's proposed "Department of Government Efficiency," a nod to Dogecoin given the DOGE acronym, has helped. And where there's discussion among investors in the crypto community, there tends to be a disproportionate amount of excitement among meme coin investors. That much is true.

當然，狗狗幣最近的大部分錶現都與前總統川普的連任競選有關。選舉消息傳出後，該代幣單日漲幅超過 20%，短短一個月內估值幾乎增加了三倍。顯然，馬斯克提出的「政府效率部」（DOGE 的縮寫，是對狗狗幣的認可）起到了幫助作用。在加密貨幣社群的投資者之間進行討論的地方，迷因幣投資者往往會表現出不成比例的興奮。這是真的。

Having said that, there do appear to be some other key factors driving today's move in Dogecoin. Let's dive into what's propelling this token higher today.

話雖如此，似乎確實還有一些其他關鍵因素推動了狗狗幣今天的走勢。今天讓我們深入探討推動該代幣走高的因素。

Elon Musk's ownership stake

馬斯克的持股比例

While the story around Dogecoin appears to remain mostly the age-old meme coin hype narrative (this time with an election-related catalyst), another key catalyst that investors are watching for when it comes to Dogecoin is Musk's potential ownership stake in the token.

雖然圍繞狗狗幣的故事似乎仍然主要是古老的迷因幣炒作敘事（這次是與選舉相關的催化劑），但投資者在狗狗幣方面關注的另一個關鍵催化劑是馬斯克對該代幣的潛在所有權股份。

An interesting (but unsubstantiated) recording of Musk discussing a personal ownership stake in Dogecoin, as well as a corporate stake in Bitcoin owned by SpaceX, appears to be a key driver around today's move in the meme coin. The recording does certainly sound like Musk and would make sense, given his continued nods to the dog-inspired crypto.

一段有趣的（但未經證實的）錄音顯示，馬斯克討論了狗狗幣的個人所有權股份，以及 SpaceX 擁有的比特幣的公司股份，這似乎是今天模因硬幣走勢的關鍵驅動力。這段錄音聽起來確實很像馬斯克，而且考慮到他對受狗啟發的加密貨幣的持續認可，這也是有道理的。

Again, just how big this ownership stake is, and whether or not Musk is still buying Dogecoin, is unknown. But for those within the Dogecoin community, having Musk as a cheerleader for this project is clearly a good thing, and speculators are following suit with big buying activity.

同樣，這些股權到底有多大，以及馬斯克是否仍在購買狗狗幣，都是未知的。但對於狗狗幣社群的人來說，有馬斯克作為這個計畫的啦啦隊長顯然是一件好事，投機者也紛紛效仿，進行了大量的購買活動。

Be wary of this rally

警惕這次集會

Like other meme coin projects out there, Dogecoin is an inflationary token without a supply cap. This means that in theory, an unlimited number of Dogecoin can be minted, though the project does burn tokens from time to time in a bid to keep the increase in supply at around 5 billion coins per year.

與其他模因幣項目一樣，狗狗幣是一種沒有供應上限的通膨代幣。這意味著理論上可以鑄造無限數量的狗狗幣，儘管該項目確實會不時銷毀代幣，以將供應量的增長保持在每年 50 億枚左右。

This simply means that in order for Dogecoin's price to rise in line with its valuation, investors will have to buy more than the annual issuance of tokens over time. As the price of Dogecoin approaches the $0.50 level, that could mean as much as $2.5 billion in capital flowing into this project each year just to keep its price steady. On this basis alone, I'm wary of this project's potential to rise toward new all-time highs. Though, clearly, anything's possible during hype cycles like this.

這僅僅意味著，為了讓狗狗幣的價格與其估值保持一致，投資者將不得不隨著時間的推移購買超過每年發行量的代幣。隨著狗狗幣的價格接近 0.50 美元的水平，這可能意味著每年有多達 25 億美元的資本流入該項目，只是為了保持其價格穩定。僅憑這一點，我就對該項目升至歷史新高的潛力持謹慎態度。不過，顯然，在這樣的炒作週期中一切皆有可能。