比特幣 vs 狗狗幣：誰奪得桂冠？

沒有多少加密貨幣能夠存活十年。然而，比特幣 [BTC] 和狗狗幣 [DOGE] 已經上市十多年了。

Bitcoin and Dogecoin are two cryptocurrencies that have been around for more than a decade. Despite their longevity, not many people know the difference between them. In this article, we will dive into the similarities and differences between Bitcoin and Dogecoin. We will also learn about their respective price actions and on-chain conditions.

比特幣和狗狗幣是兩種已經存在十多年的加密貨幣。儘管它們的壽命很長，但沒有多少人知道它們之間的差異。在本文中，我們將深入探討比特幣和狗狗幣之間的異同。我們還將了解它們各自的價格行為和鏈上條件。

Bitcoin and Dogecoin have a few things in common. The most notable one is that they both use the Proof-of-Work (PoW) consensus mechanism. This similarity is why the blockchains are among the top projects who still stick to mining, instead of adopting the use of validators. However, the major difference between them is their supply.

比特幣和狗狗幣有一些共同點。最值得注意的是，它們都使用工作量證明（PoW）共識機制。這種相似性就是為什麼區塊鏈是仍然堅持挖礦而不是採用驗證器的頂級項目之一。然而，它們之間的主要區別在於它們的供應。

While Dogecoin’s supply is unlimited, Bitcoin’s maximum supply is 21 million coins, making it a more scarce asset than DOGE. At press time, DOGE was changing hands at $0.12. This was a 38.19% hike on a Year-To-Date (YTD) basis. As far as Bitcoin was concerned, it was valued at at $61,579 – A 39.42% increase within the same period.

雖然狗狗幣的供應量是無限的，但比特幣的最大供應量為 2,100 萬枚，這使其成為比 DOGE 更稀缺的資產。截至發稿時，DOGE 易手價格為 0.12 美元。較年初至今 (YTD) 上漲 38.19%。就比特幣而言，其價值為 61,579 美元，同期上漲 39.42%。

When we assessed the prices of both cryptocurrencies, we noticed that there was a strong correlation. For instance,, according to Macroaxis, the Bitcoin vs. Dogecoin correlation stood at 0.98.

當我們評估兩種加密貨幣的價格時，我們注意到兩者之間有強烈的相關性。例如，根據 Macroaxis 的數據，比特幣與狗狗幣的相關性為 0.98。

Values of the correlation coefficient range from -1 to +1. When the reading is close to -1, it means that the prices diverge, and they rarely move together. However, a coefficient close to +1 implies otherwise. Therefore, the correlation between BTC and DOGE showed that if you invested some money into both coins since the start of the year, you would get almost the same returns.

相關係數的值範圍為 -1 到 +1。當讀數接近-1時，表示價格出現背離，並且很少一起變動。然而，接近 +1 的係數意味著相反的情況。因此，BTC 和 DOGE 之間的相關性表明，如果你從年初開始向這兩種貨幣投入一些資金，你將獲得幾乎相同的回報。

However, the returns on Bitcoin would be slightly higher. Ergo, the question – Will the prices continue to move in the same direction? Let’s look at it.

然而，比特幣的回報率會略高一些。因此，問題是──價格會繼續朝同一方向移動嗎？我們來看一下。

DOGE takes the upper hand this time

DOGE這次佔上風

To ascertain this possibility, AMBCrypto analyzed the In and Out of Money Around Price (IOMAP). This indicator, provided by IntoTheBlock, spots support and resistance levels. It does this by grouping addresses that bought at a certain price range. Some of which will be in profit, and some in loss. Typically, the larger the cluster of addresses, the solid the support or resistance provided.

為了確定這種可能性，AMBCrypto 分析了價格周圍的資金進出 (IOMAP)。此指標由 IntoTheBlock 提供，可顯示支撐位和阻力位。它透過對以特定價格範圍購買的地址進行分組來實現這一點。其中一些會獲利，有些會虧損。通常，地址簇越大，提供的支撐或阻力就越牢固。

At press time, AMBCrypto found that a sell-wall appeared at $62,134. At this point, 1.64 million addresses bought 759,670 BTC. On the other end, 755, 240 addresses bought 445,280 BTC at around $60,793.

截至發稿時，AMBCrypto 發現賣出牆出現在 62,134 美元。此時，164萬個地址購買了759,670 BTC。另一方面，755、240 個地址以 60,793 美元左右的價格購買了 445,280 BTC。

Considering the difference, it is likely that Bitcoin might face another decline. If this is the case, the coin risks falling below $60,000. As such, it might not be the best time to buy BTC.

考慮到這種差異，比特幣很可能會面臨另一次下跌。如果是這種情況，代幣就有跌破 6 萬美元的風險。因此，現在可能不是購買 BTC 的最佳時機。

For Dogecoin, it was an entirely different scenario. Unlike Bitcoin, DOGE had its support at $0.12. This, because 86,480 addresses purchased 6.87 billion DOGE at the said price. This was more than 33,520 addresses that bought 717.77 million coins at a higher value. Thanks to this condition, DOGE might just trade at a higher value in the short term.

對於狗狗幣來說，這是一個完全不同的場景。與比特幣不同，DOGE 的支撐位為 0.12 美元。這是因為 86,480 個地址以上述價格購買了 68.7 億個 DOGE。超過 33,520 個地址以更高的價格購買了 7.1777 億枚代幣。由於這種情況，DOGE 可能會在短期內以更高的價格交易。

In addition, the possible target for Dogecoin is between $0.13 and $0.15. Simply put, the memecoin might offer a better return than Bitcoin in the short term.

此外，狗狗幣的可能目標在0.13美元至0.15美元之間。簡而言之，模因幣在短期內可能會提供比比特幣更好的回報。