Dogecoin's Value Declines Amidst Broader Crypto Market Downturn

在更广泛的加密货币市场低迷中，狗狗币的价值下跌

Dogecoin's value has experienced a significant decline amidst a broader downturn in the cryptocurrency market. On April 27, DOGE witnessed a 4.82% decrease, settling at approximately $0.15.

在加密货币市场普遍低迷的背景下，狗狗币的价值经历了大幅下跌。 4 月 27 日，DOGE 下跌 4.82%，收于约 0.15 美元。

Factors Contributing to Dogecoin's Decline

导致狗狗币下跌的因素

Several factors have contributed to Dogecoin's recent price downturn, including:

有几个因素导致了狗狗币最近的价格下跌，包括：

• U.S. GDP Report: The release of the U.S. gross domestic product (GDP) report on April 25 revealed that the U.S. economy's growth in the first quarter of 2024 fell short of expectations, recording a 1.6% increase instead of the anticipated 2.5%.
• Interest Rate Expectations: The anticipation of sustained high interest rates has led to a rise in the yield on the benchmark U.S. 10-year Treasury note, making riskier crypto assets less appealing to investors.
• Open Interest and Funding Rate: Dogecoin's open interest (OI) has declined significantly, and the funding rate has dropped, indicating a bearish sentiment in the market.

Technical Analysis

美国GDP报告：4月25日发布的美国国内生产总值（GDP）报告显示，美国经济2024年第一季度增长不及预期，增长1.6%，而非预期的2.5%。 利率预期：持续高利率的预期导致基准美国10年期国债收益率上升，风险较高的加密资产对投资者的吸引力下降。 未平仓合约和融资利率：狗狗币的未平仓合约（OI）有所下降技术面分析

Today's decrease in Dogecoin's price appears to be a continuation of a selling trend that started when the price encountered resistance marked by a descending trendline and the 50-day exponential moving average (50-day EMA). The descending trendline resistance has consistently hindered DOGE's upward movements over the past 30 days.

今天狗狗币价格的下跌似乎是抛售趋势的延续，这种抛售趋势是在价格遇到以下降趋势线和 50 天指数移动平均线（50 天 EMA）为标志的阻力时开始的。过去 30 天，不断下降的趋势线阻力一直阻碍着 DOGE 的上涨。

Potential Rebound

潜在反弹

Currently, Dogecoin is testing its multi-week ascending trendline support, suggesting a potential rebound. This rebound could propel the price towards the descending trendline resistance at around $0.159 by the end of April.

目前，狗狗币正在测试其多周上升趋势线支撑，表明可能出现反弹。这种反弹可能会推动价格在 4 月底达到下降趋势线阻力位 0.159 美元左右。