比特币 vs 狗狗币：谁夺得桂冠？

没有多少加密货币能够存活十年。然而，比特币 [BTC] 和狗狗币 [DOGE] 已经上市十多年了。

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.

比特币和狗狗币是两种已经存在十多年的加密货币。尽管它们的寿命很长，但没有多少人知道它们之间的区别。在本文中，我们将深入探讨比特币和狗狗币之间的异同。我们还将了解它们各自的价格行为和链上条件。

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.

比特币和狗狗币有一些共同点。最值得注意的是，它们都使用工作量证明（PoW）共识机制。这种相似性就是为什么区块链是仍然坚持挖矿而不是采用验证器的顶级项目之一。然而，它们之间的主要区别在于它们的供应。

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.

虽然狗狗币的供应量是无限的，但比特币的最大供应量为 2100 万枚，这使其成为比 DOGE 更稀缺的资产。截至发稿时，DOGE 易手价格为 0.12 美元。较年初至今 (YTD) 上涨 38.19%。就比特币而言，其价值为 61,579 美元，同期上涨 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.

当我们评估两种加密货币的价格时，我们注意到两者之间存在很强的相关性。例如，根据 Macroaxis 的数据，比特币与狗狗币的相关性为 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.

相关系数的值范围为 -1 到 +1。当读数接近-1时，意味着价格出现背离，并且很少一起变动。然而，接近 +1 的系数意味着相反的情况。因此，BTC 和 DOGE 之间的相关性表明，如果你从年初开始向这两种货币投入一些资金，你将获得几乎相同的回报。

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，比特币的回报率会略高一些。因此，问题是——价格会继续朝同一方向移动吗？我们来看一下。

DOGE takes the upper hand this time

DOGE这次占据上风

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.

为了确定这种可能性，AMBCrypto 分析了价格周围的资金进出 (IOMAP)。该指标由 IntoTheBlock 提供，可显示支撑位和阻力位。它通过对以特定价格范围购买的地址进行分组来实现这一点。其中一些会盈利，一些会亏损。通常，地址簇越大，提供的支撑或阻力就越牢固。

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.

截至发稿时，AMBCrypto 发现卖出墙出现在 62,134 美元。此时，164万个地址购买了759,670 BTC。另一方面，755、240 个地址以 60,793 美元左右的价格购买了 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.

考虑到这种差异，比特币可能会再次下跌。如果是这种情况，代币就有跌破 60,000 美元的风险。因此，现在可能不是购买 BTC 的最佳时机。

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.

对于狗狗币来说，这是一个完全不同的场景。与比特币不同，DOGE 的支撑位为 0.12 美元。这是因为 86,480 个地址以上述价格购买了 68.7 亿个 DOGE。超过 33,520 个地址以更高的价格购买了 7.1777 亿枚代币。由于这种情况，DOGE 可能会在短期内以更高的价格交易。

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，狗狗币的可能目标在0.13美元至0.15美元之间。简而言之，模因币在短期内可能会提供比比特币更好的回报。