Dogecoin [Doge]收回了关键的技术基础，将集会的阶段设定为0.35美元

Dogecoin [Doge]在闯入降频道并将其作为支持后重新测试后，已收回了关键的技术基础。这证实了看涨的结构，价格行动稳定地超过了0.22美元的水平。

Dogecoin price has broken out of a descending channel and retested it as support, confirming bullish technical structure. Technical Analysis in Brief

Dogecoin的价格已经从下降的频道中淘汰，并将其重新测试为支持，从而证实了看涨的技术结构。技术分析简要

Dogecoin [DOGE] has broken out of a descending channel and retested it as support, confirming bullish structure.

Dogecoin [Doge]已经从下降的频道中拆分并重新测试了支持，证实了看涨的结构。

Price action has held steadily above the $0.22 level.

价格行动稳步上升到0.22美元的水平。

On-chain data reveals heavy short liquidations and an undervalued MVRV Z-score.

链上的数据揭示了大量的短清算和被低估的MVRV Z分数。

However, network activity shows a short-lived surge followed by a sharp retracement.

但是，网络活动显示出短暂的激增，随后进行了急剧回溯。

Dogecoin price has encountered resistance at the $0.25 zone, which could limit immediate gains.

Dogecoin的价格在0.25美元的区域遇到了阻力，这可能会限制立即收益。

Dogecoin price showed strength as it rebounded from the crucial support at the $022 level. Despite encountering resistance at the $0.25 zone, on-chain metrics suggest that the meme coin is in a healthy condition for sustained upward action.

Dogecoin的价格表现出强度，因为它从$ 022水平的关键支持中反弹。尽管在0.25美元的区域遇到了阻力，但链上的指标表明，模因硬币仍处于健康状况，可持续进行上升。

Further, recent price action saw short liquidations outweigh long liquidations sharply, indicating a possible market-wide short squeeze.

此外，最近的价格行动使短暂的清算急剧远远超过了较长的清算，这表明可能会有短暂的短暂挤压。

On-chain data: Is there room for more growth?

链数据：有更多增长的空间吗？

On-chain data from CoinGlass showed that for the past 24 hours at press time, short liquidations totaled $387K while long liquidations came in at only $65K. This liquidation imbalance usually accelerates price movement and puts pressure on the coin to move further in the direction of the liquidated positions.

来自Coinglass的链上数据表明，在过去的24小时内，短量清算总额为38.7万美元，而长量清算仅为65,000美元。这种清算不平衡通常会加速价格转移，并在硬币上施加压力，以便朝着清算位置的方向进一步移动。

Moreover, MVRV Z-score sat at 0.94 at press time. Generally, a Z-score above 2.5 suggests overvaluation while a low score indicates that most holders are holding at a loss or in minimal profit.

此外，MVRV z得分在发稿时为0.94。通常，高于2.5的Z得分表明高估，而低分表明大多数持有人持有损失或最低利润。

Therefore, the current low reading on MVRV Z-score signaled that there was little urgency for traders to sell at a loss, which in turn, could sustain the current rally.

因此，当前对MVRV Z分数的低阅读表明，交易者几乎没有损失出售的紧迫性，这反过来又可以维持当前的集会。

On the other hand, DOGE’s Stock-to-Flow Ratio surged to 99.53, which is an all-time high. Usually, a rising Stock-to-Flow Ratio signals decreasing supply growth, which in turn, increases scarcity and price. However, such a sharp rise could also signal unusual market activity or upcoming volatility.

另一方面，Doge的股票流比飙升至99.53，这是历史最高的。通常，股票与流量的增加信号会降低供应增长，从而增加稀缺性和价格。但是，如此急剧的上升也可能表明市场活动异常或即将发生的波动性。

Historically, sudden spikes in Stock-to-Flow have often preceeded both major rallies and corrections.

从历史上看，股票而一的突然峰值通常是主要的集会和更正。

This year, the sharpest rises in Stock-to-Flow occurred during the January rally and the February correction.

今年，在一月份的集会和二月更正期间，股票交流的最高上升发生。

This year, the sharpest rises in Stock-to-Flow occurred during the January rally and the February correction.

今年，在一月份的集会和二月更正期间，股票交流的最高上升发生。

Earlier in May, daily active addresses spiked to over 500K but has since retraced to just 28.6K. Transaction counts also dropped from the monthly highs to only 8.8K. This abrupt decline suggests that the earlier price rally may have been driven by short-term speculative interest rather than sustained utility or user growth.

5月初，每天的活动地址飙升至50万多个，但此后仅回落至28.6k。交易计数也从每月高点下降到仅8.8K。这种突然的下降表明，较早的价格集会可能是由短期投机利益而不是持续的效用或用户增长驱动的。

Can DOGE reclaim $0.25 and sustain the breakout?

Doge可以收回$ 0.25并维持突破吗？

Dogecoin has the potential to reclaim $0.25 and sustain its breakout. The cryptocurrency is showing strength as it trades above the key support at $0.22.

Dogecoin有可能收回0.25美元并维持其突破。加密货币表现出强度，因为它以0.22美元的价格交易的主要支持。

Moreover, on-chain metrics suggest that DOGE is in a healthy condition for sustained upward action. In the past 24 hours, short liquidations were heavily skewed at $387K compared to just $65K in long liquidations.

此外，链链指标表明，Doge处于健康状况的持续行动状态。在过去的24小时内，短清算量的倾斜度为38.7万美元，而长期清算仅为65,000美元。

This disparity in liquidation amounts usually accelerates price movement and puts pressure on the coin to move further in the direction of the liquidated positions. In this case, with short liquidations dominating, it suggests that there could be more downward price action.

清算量的这种差异通常会加速价格移动，并向硬币施加压力，以便朝着清算位置的方向进一步移动。在这种情况下，由于较短的清算占主导地位，因此表明可能会有更多的下降价格行动。

Additionally, the MVRV Z-score stands at 0.94, which is quite low. A Z-score above 2.5 suggests overvaluation while a low score indicates that most holders are holding at a loss or in minimal profit.

此外，MVRV Z分数为0.94，非常低。高于2.5的Z得分表明高估，而低分表明大多数持有人持有损失或最少的利润。

Consequently, the current low reading on MVRV Z-score signals that there is little urgency for traders to sell at a loss, which in turn, could sustain the current rally.

因此，目前对MVRV Z分数的低读数信号表明，交易者几乎没有损失的紧迫性，这反过来又可以维持当前的集会。

However, despite the bullish momentum, there are also some volatility risks to consider.

但是，尽管有看涨的动力，但仍有一些波动的风险要考虑。

On-chain activity shows a short-lived surge followed by a sharp retracement. Daily active addresses recently spiked to over 500K but have since retraced to just 28.6K. Transaction counts also dropped from the monthly highs to only 8.8K.

链上的活动显示出短暂的激增，随后进行了急剧的回回。每天的活动地址最近飙升至50万以上，但此后仅回落至28.6k。交易计数也从每月高点下降到仅8.8K。

This abrupt decline suggests that the earlier price rally may have been driven by short-term speculative interest rather than sustained utility or user growth.

这种突然的下降表明，较早的价格集会可能是由短期投机利益而不是持续的效用或用户增长驱动的。

suggest that the cryptocurrency could be poised for further gains.

表明可以将加密货币有望获得进一步的收益。

Moreover, derivatives data from DeFi Glass present a mixed outlook. Total volume dropped 22.05% to $3.46B, signaling reduced speculative participation. However, Open Interest (OI) rose 2.7% to $2

此外，来自DEFI玻璃的衍生物数据表现出混合的前景。总容量下降了22.05％至$ 3.46B，信号降低了投机参与。但是，开放利息（OI）上涨2.7％至$ 2