在显示出向上势头的迹象之后

尽管Dogecoin努力恢复其看涨势头，但重要的指标强调了可能影响其近期轨迹的关键价格水平。

Dogecoin (DOGE) has encountered a temporary setback after showing signs of a renewed upward momentum. The meme-inspired cryptocurrency recently faced bearish pressure, bringing its price below the crucial $0.20 level.

Dogecoin（Doge）在显示出更新的势头的迹象后遇到了暂时的挫折。模因启发的加密货币最近面临看跌压力，其价格低于至关重要的0.20美元。

However, despite this pullback, Dogecoin investors remain resilient, holding onto their assets and demonstrating strong confidence in the token’s potential. As the market at a critical juncture, key on-chain metrics are providing insights into DOGE’s next move.

然而，尽管有这种回调，Dogecoin投资者仍然保持韧性，保持其资产并表现出对代币潜力的强烈信心。作为关键关键的市场，关键的链链指标正在为Doge的下一步行动提供见解。

Dogecoin Holders Stay Strong Despite Market Volatility

尽管市场动荡

While Dogecoin struggles to reclaim its bullish momentum, important indicators are highlighting key price levels that could shape its near-term trajectory. According to the world-renowned blockchain analytics firm Glassnode, an emerging trend in Dogecoin’s supply metrics is providing crucial insights into how the meme coin is currently faring under market pressure.

尽管Dogecoin努力恢复其看涨势头，但重要的指标强调了可能影响其近期轨迹的关键价格水平。根据世界知名的区块链分析公司GlassNode的说法，Dogecoin的供应指标的新兴趋势正在提供有关模因硬币目前如何在市场压力下如何发展的重要见解。

A recent analysis by Glassnode, leveraging the Dogecoin UTXO Realized Price Distribution (URPD) metric, has revealed that over 7% of DOGE’s supply is clustered at the $0.20 level. This makes it the third-largest cluster of supply after the $0.17 and $0.07 price points.

GlassNode最近的一项分析，利用Dogecoin UTXO实现了价格分布（URPD）度量，该指标表明，多奇的供应量的7％以上的供应水平超过0.20美元。这使其成为仅次于0.17美元和0.07美元的价格点的第三大供应集。

This concentration suggests that a significant number of investors have acquired DOGE at or near this level, highlighting its importance as a potential resistance point.

这种集中度表明，大量投资者在此级别上或附近获得了Doge，这强调了其重要性是潜在的抵抗点。

Glassnode’s data indicates that a substantial inflow of capital was observed at the $0.20 price level on January 22. However, it is believed that investors likely purchased DOGE at an earlier date, which subsequently increased their cost basis. This price mark is now expected to serve as a short-term resistance level, meaning DOGE could face difficulty surpassing it in the immediate future.

GlassNode的数据表明，在1月22日的0.20美元价格水平上观察到大量资本流入。但是，人们认为投资者可能在较早的日期购买了Doge，随后增加了成本基础。现在，预计这个价格标记将成为短期抵抗水平，这意味着Doge可能会在不久的将来遇到困难。

Key Price Levels and Potential Breakout Signals

关键价格水平和潜在的突破信号

Given the current market dynamics, if DOGE successfully breaks above the $0.20 resistance level, there could be a significant price increase, as there are relatively few supply clusters until the next key level at $0.31. The lack of major resistance between these levels suggests the potential for a sharp upward movement once Dogecoin builds enough buying pressure.

鉴于当前的市场动态，如果Doge成功地超过了0.20美元的电阻水平，则价格可能会大幅提高，因为供应簇相对较少，直到下一个关键水平为0.31美元。这些水平之间缺乏重大阻力表明，一旦Dogecoin产生了足够的购买压力，可能会出现急剧向上的运动。

Glassnode’s analysis further suggests that a breakout may be imminent if trading volume increases, reducing the current downward pressure. If this happens, DOGE could experience a rapid price rally due to the absence of major resistance levels between its current price and the next URPD cluster at $0.31.

GlassNode的分析进一步表明，如果交易量增加，可能会突破，从而降低了当前的向下压力。如果发生这种情况，Doge由于目前的价格和下一个URPD集群之间的主要阻力水平为0.31美元，可能会经历迅速的价格集会。

Long-Term Holders Indicate Strong Market Confidence

长期持有人表示强大的市场信心

Another key metric, the Dogecoin HODL Waves, has provided deeper insights into investor sentiment. According to Glassnode, approximately 15% of DOGE’s total supply was last moved between 6 to 12 months ago. This pattern reveals that a significant number of investors purchased DOGE before the November-December 2023 rally and have opted to hold onto their investments instead of selling during the recent price fluctuations.

另一个关键指标，Dogecoin Hodl Waves，为投资者情绪提供了更深入的见解。根据GlassNode的说法，Doge总供应量的大约15％在6到12个月前移动。这种模式表明，许多投资者在2023年11月至12月12日的集会之前购买了大多数人，并选择保留其投资，而不是在最近的价格波动期间出售。

The increase in the 3-6M HODL Waves metric since early March further highlights that many investors have accumulated DOGE, particularly during its bounce from $0.32 to $0.41 in January 2024. These investors are now waiting for prices to recover, and some might sell at their break-even points, potentially introducing resistance ahead.

自3月初以来，HODL波浪指标的增长进一步凸显了许多投资者累积了Doge，尤其是在2024年1月的弹跳期间从0.32美元到0.41美元。这些投资者现在正在等待价格恢复，有些投资者可能会以十个收支平衡的价格出售，并有可能引入抵抗力。

DOGE Futures and Open Interest Trends

Do Go Gutures和开放兴趣趋势

Another crucial aspect of Dogecoin’s market outlook is its futures trading activity. Glassnode’s report highlights that DOGE’s Futures Open Interest (OI) has experienced a decline, currently standing at around $1 billion. This is significantly lower than the average open interest of over $3 billion recorded in November and December 2023.

Dogecoin市场前景的另一个关键方面是其期货交易活动。 Glassnode的报告强调，Doge的未来开放兴趣（OI）的情况下降了，目前约有10亿美元。这大大低于2023年11月和12月的平均公开利息超过30亿美元。

Despite the decline in open interest, DOGE’s futures volume, measured by the 7-day Simple Moving Average (SMA), is showing signs of recovery. This increase is primarily driven by spot trading rather than excessive leveraged positions. Moreover, DOGE’s funding rates have dropped close to neutral levels over the past two days, reinforcing the notion that the ongoing rally is primarily driven by organic market demand rather than speculative trading.

尽管开放兴趣下降，但以7天简单移动平均线（SMA）衡量的Doge的期货量正在显示恢复迹象。这种增长主要是由现货交易而不是过度杠杆位置驱动的。此外，在过去的两天中，Doge的资金率已经接近中立水平，这加强了这样一个观念，即持续的集会主要是由有机市场需求而不是投机性交易驱动的。

Technical Indicators Point to a Potential Recovery

技术指标指出潜在的恢复

Prominent crypto analyst Trader Tardigrade has identified an encouraging technical pattern for Dogecoin. According to their analysis, DOGE is in the process of breaking out from a three-month descending trendline. If this breakout is confirmed, it could signal a short-term rally for the cryptocurrency.

著名的加密分析师Trader Tardigrade确定了Dogecoin的令人鼓舞的技术模式。根据他们的分析，Doge正在从三个月下降趋势线中脱颖而出。如果确认此突破，它可能会为加密货币标志着短期集会。

Technical indicators further suggest that DOGE’s price action is forming a pattern that resembles past breakout movements, where a period of consolidation is followed by a significant upward surge. If Dogecoin manages to maintain its current support levels and establish higher lows, it could be poised for another upward run in the coming weeks.

技术指标进一步表明，Doge的价格动作形成了类似于过去的分支运动的模式，在此期间，合并时期之后是大量的上升。如果Dogecoin设法维持其当前的支持水平并确定更高的低点，则可以在未来几周内再次向上运行。

What Lies Ahead for Dogecoin

Dogecoin的前方

Dogecoin’s price action remains at a pivotal point, with key on-chain metrics indicating strong support from long-term holders and a potential breakout in the near future. While the short-term resistance at $0.20 could pose a challenge

Dogecoin的价格行动仍然处于关键位置，关键的链度指标表明长期持有人得到了强有力的支持，并且在不久的将来会出现潜在的突破。虽然短期抵抗力为0.20美元可能会构成挑战