Dogecoin（Doge）鯨魚引發了17.64％的市場下降，而血液浴仍會繼續

在過去的24小時內，Dogecoin [Doge]記錄了17.64％的市場下降，每月損失達到36.43％，這是Doge繼續進行的明顯跡象

Dogecoin [DOGE] price movements over the past 24 hours have shown a 17.64% market decline. This brings its monthly loss to 36.43%, a clear sign that DOGE has continued to make a series of lower lows in the market.

過去24小時內的Dogecoin [Doge]價格變動顯示市場下降了17.64％。這使它的每月損失達到36.43％，這是一個明顯的跡象表明，多奇繼續在市場上造成一系列較低的低點。

An analysis of the market showed that while whales played a major role in the recent market decline of DOGE, retail traders have also joined the bearish sentiment, likely contributing to further declines.

對市場的分析表明，儘管鯨魚在最近的門檻市場下降中發揮了重要作用，但零售商人也加入了看跌的情緒，可能有助於進一步下降。

Whales sell-off causes bigger consequences

鯨魚拋售會導致更大的後果

Whales, or large investors controlling between 100 million to over 1 billion DOGE, sold 270 million DOGE in the past 24 hours, forcing a price decline and market losses.

在過去的24小時內，鯨魚或大型投資者控制了1億至10億多名。

Usually, a major sell-off like this implies that these cohorts are either trying to realize profits, break even, or cut their losses. This is often followed by a series of downward price movements until significant buying activity is recorded.

通常，像這樣的主要拋售意味著這些同類人要么試圖實現利潤，打破或削減損失。之後通常是一系列下跌的價格變動，直到記錄重大的購買活動。

These whale sell-offs have impacted other market participants, who are closing their long contracts as the bearish wave takes control of the market.

這些鯨魚的拋售影響了其他市場參與者，他們在看跌波浪控制市場時正在結束長期合同。

Derivative trades remain bearish

衍生品交易仍然是看跌的

As the bearish wave sweeps through the market, derivative traders’ positions have turned bearish. Two key metrics—Funding Rate and Open Interest—have shifted negatively.

隨著看跌浪潮席捲市場，衍生交易者的立場變成了看跌。兩個關鍵的指標（資金匯率和開放利息）造成負面變化。

The Funding Rate, which shows whether buyers or sellers are in control based on which group pays the premium to maintain price balance in the spot and Futures market, indicates that sellers are in control.

資金率表明買賣雙方是否基於哪個集團支付溢價以維持現場和期貨市場的價格餘額，這表明賣方處於控制狀態。

This is confirmed by a negative Funding Rate. At press time, DOGE’s Funding Rate stood at negative 0.0245%, meaning perpetual contracts were dominated by sellers.

這是由負資金率確認的。發稿時，Doge的資金率為負0.0245％，這意味著永久合同由賣方主導。

The Open Interest (OI), which measures the amount of unsettled derivative contracts in the market, shares a similar sentiment.

開放利息（OI）衡量了市場中未解決的衍生合同的數量，具有類似的情感。

At the time of writing, OI has declined by 30.08% to $2.53 billion, suggesting that derivative traders are closing their positions, and liquidity outflow is occurring, adding more downward pressure.

在撰寫本文時，OI下降了30.08％，至25.3億美元，這表明衍生品交易者正在關閉其頭寸，並且流動性流出正在發生，增加了更大的下降壓力。

Dogecoin longs get burned

多黴素朗被燒毀

Given the current bearish trend, bullish traders have incurred major market losses in the past 24 hours. At the same time, the liquidation data opposed a market rally, as traders remained bearish across all timeframes.

鑑於當前的看跌趨勢，在過去的24小時內，看漲的商人在過去24小時內造成了重大市場損失。同時，清算數據反對市場集會，因為交易者在所有時間表中仍然看跌。

In the past hour alone, $2.31 million worth of long liquidation positions have been closed, compared to $99,880 of short positions. This large disparity between long and short contracts in lower timeframes highlighted the depth of the bearish trend.

僅在過去的一個小時中，價值231萬美元的長期清算職位就已經關閉，而短職位為99,880美元。在較低的時間表中長期和短合同之間的這種巨大差異突出了看跌趨勢的深度。

Overall, this bearish trend persists, with exactly $69.46 million worth of long positions on DOGE closed, while short positions account for just $18.94 million. If this continues, there’s a high probability that DOGE will keep recording new lows and the market will experience further losses.

總體而言，這種看跌趨勢持續存在，直接在Doge上佔6946萬美元的長位置，而短職位僅佔1894萬美元。如果繼續這樣做，Doge的可能性很大，將繼續記錄新的低點，而市場將遭受進一步的損失。