狗狗币：交易量巨大，但正在下降

狗狗币（Dogecoin）是一种受狗表情包启发的著名加密货币，其 24 小时内交易量达到 11.7 亿美元，加密领域受到质疑。

While Dogecoin, the renowned cryptocurrency inspired by a dog meme, showcases a trading volume of $1.17 billion within 24 hours, the crypto domain is left pondering. The rapid fluctuations of Dogecoin, coupled with a curiosity and skepticism, reveal a dynamic that captivates and concerns simultaneously. But beyond the figures, what truly unfolds within the universe of this surprising crypto?

虽然狗狗币（Dogecoin）是一种受狗表情包启发而闻名的加密货币，在 24 小时内交易量达到 11.7 亿美元，但加密领域仍然值得深思。狗狗币的快速波动，加上好奇和怀疑，揭示了一种既令人着迷又令人担忧的动态。但除了这些数字之外，这个令人惊讶的加密货币世界中真正展开的是什么？

A massive volume, yet dwindling

数量巨大，但数量正在减少

This isn't the first time Dogecoin has experienced an explosion. On October 21, it peaked at $12.87 billion in substantial DOGE transactions.

这并不是狗狗币第一次经历爆炸。 10 月 21 日，DOGE 交易额达到 128.7 亿美元的峰值。

This volume, though impressive, conceals a decline. Since October 16, Dogecoin has seen a drop in its transactional volume, entering a phase of decrease after hitting peaks around $0.1499.

这个数量虽然令人印象深刻，但掩盖了下降的情况。自10月16日以来，狗狗币交易量出现下降，在触及0.1499美元左右的峰值后进入下降阶段。

The question arises: why this vast spike in volume, followed by an abrupt decline? To unravel this, we must scrutinize the origins of these movements closely.

问题出现了：为什么成交量会出现如此巨大的飙升，然后又突然下降？为了弄清楚这一点，我们必须仔细审视这些运动的起源。

On one hand, the major crypto whales, these colossal wallets, appear to play a pivotal role in buying and selling millions of DOGE in a single transaction.

一方面，主要的加密鲸鱼，这些巨大的钱包，似乎在单笔交易中买卖数百万 DOGE 方面发挥着关键作用。

This type of manipulation often sparks the interest of retail investors who, driven by a fear of missing out (the renowned FOMO), join in this frenzy. However, when the whales pull out, the volume drops rapidly, revealing a base of investors that is far less substantial than anticipated.

这种类型的操纵往往会激发散户投资者的兴趣，他们因担心错过机会（著名的 FOMO）而加入到这种狂热之中。然而，当鲸鱼退出时，交易量迅速下降，表明投资者的基础远没有预期的那么大。

The data also reveals a 7.54% decrease in transactional volume within a single day, a key indicator.

数据还显示，单日交易量下降了7.54%，这是一个关键指标。

This could suggest that, despite the excitement around Dogecoin, some institutional players are reducing their positions, or that demand among retail investors is beginning to weaken, which could herald a period of calm for DOGE.

这可能表明，尽管狗狗币令人兴奋，但一些机构参与者正在减少头寸，或者散户投资者的需求开始减弱，这可能预示着狗狗币将迎来一段平静时期。

Dogecoin's popularity: a meme or an engine for growth?

狗狗币的流行：迷因还是增长引擎？

Dogecoin is an anomaly in the crypto universe. Born as a joke, it has become one of the most popular cryptos, thanks to its funny and relatable image, and, of course, the support of influencers like Elon Musk. But the question remains: can this popularity be sustained, or is Dogecoin simply a fad?

狗狗币是加密世界中的一个异常现象。它诞生于一个笑话，但由于其有趣且相关的形象，以及埃隆·马斯克等有影响力人士的支持，它已成为最受欢迎的加密货币之一。但问题仍然存在：这种流行能否持续，或者狗狗币只是一种时尚？

The current trend shows that Dogecoin benefits from a sticky user base, but its fundamentals remain shaky. Unlike other cryptocurrencies such as Bitcoin or Ethereum, Dogecoin has no specific use case or groundbreaking technological development in sight.

目前的趋势表明，狗狗币受益于粘性用户群，但其基本面仍然不稳定。与比特币或以太坊等其他加密货币不同，狗狗币没有具体的用例或突破性的技术发展。

This reality affects its long-term viability and raises concerns about the stability of its price, especially when we observe a decline in major transaction indicators.

这一现实影响了其长期生存能力，并引发了对其价格稳定性的担忧，特别是当我们观察到主要交易指标下降时。

However, it would be unjust to dismiss Dogecoin as merely a joke. Its ability to attract attention and gather an active community gives it a certain resilience.

然而，将狗狗币仅仅视为一个笑话是不公正的。它吸引注意力和聚集活跃社区的能力赋予它一定的韧性。

Users, charmed by the quirky aspect of the crypto, continue to support it, even during times of decline. Moreover, the rapid fluctuations of Dogecoin make it a favorite asset for traders who capitalize on its volatility to attempt quick gains. Meanwhile, bitcoin is bouncing back again.

用户被加密货币的古怪方面所吸引，即使在衰退时期也继续支持它。此外，狗狗币的快速波动使其成为交易者最喜欢的资产，他们利用其波动性来尝试快速获利。与此同时，比特币再次反弹。

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