Dogecoin（Doge）的供应处于休眠状态的15％，这是长期持有人的坚定信号

Dogecoin（$ DOGE）一直是加密货币世界中的中流tay柱，其模因硬币地位将其跃升为公众。最近的数据表明，Dogecoin的大部分供应（15％）仍处于休眠状态

Recently, there has been a significant portion of Dogecoin (CRYPTO: DOGE) supply, 15%, that remained untouched for 6–12 months, indicating strong conviction from long-term holders.

最近，有很大一部分Dogecoin（Crypto：Doge）供应量为15％，在6-12个月内保持不变，这表明长期持有人的坚定信念。

According to data from Glassnode, these holders, many of whom entered the market before the November and December rallies, show little to no intention of selling even as the market fluctuates.

根据GlassNode的数据，这些持有人，其中许多人在11月和12月的集会前进入市场，即使市场波动，也几乎没有意图出售。

This long-term holding behavior suggests confidence in Dogecoin’s future and a reluctance to part with assets during turbulent market conditions.

这种长期的持有行为表明对Dogecoin的未来有信心，并且不愿在动荡的市场条件下对资产的一部分。

15% of $DOGE's supply was last moved 6–12 months ago.

$ Doge的供应量的15％是在6-12个月前移动的。

These are holders who bought before the Nov/Dec rally – and they’re still holding.

这些持有人在诺维尔（Nov/Dec）集会前购买了 - 他们仍在举行。

Strong signal of conviction.

坚定的信念。

According to Glassnode, the 15% of Dogecoin that hasn't been moved for the past 6–12 months is particularly noteworthy.

根据GlassNode的说法，过去6-12个月尚未移动的Dogecoin尤其值得注意。

This group represents holders who purchased their Dogecoin prior to the major price rally in late 2024. The lack of movement during this period indicates strong belief in the asset's future value.

该小组代表在2024年底在主要价格集会之前购买狗狗币的持有人。在此期间，缺乏移动表明对资产的未来价值的信念强烈。

Many of these holders entered the market at a good point, considering the rally in November and December saw significant price increases. Despite the price fluctuations that followed, their commitment to holding their positions remains.

考虑到11月和12月的集会的价格大幅上涨，许多持有人在一个很好的时刻进入了市场。尽管价格波动波动，但他们对保持职位的承诺仍然存在。

This behavior from long-term holders speaks to a deep level of conviction and suggests that they see value in holding Dogecoin for the long haul, potentially in anticipation of future price gains.

长期持有人的这种行为表达了深刻的信念，并暗示他们认为长期以来一直将狗狗币的价值带到了长期以来，这可能会预期未来的价格上涨。

According to the chart from Material Indicators, the 3–6 month HODL wave for Dogecoin has been swelling since early March 2025.

根据物料指标的图表，自2025年3月初以来，Dogecoin的3-6个月HODL波一直肿胀。

This indicates that many holders bought into the asset during the January bounce. This bounce saw Dogecoin's price rise from $0.32 to $0.41.

这表明许多持有人在1月反弹期间购买了资产。这种反弹的价格使Dogecoin的价格从0.32美元上涨至0.41美元。

As the price of Dogecoin continues to trade above these levels, some holders may choose to exit at break-even levels, especially if the price pulls back to previous highs. This could create resistance for the asset as sellers may look to liquidate their positions to recover the capital they invested.

随着Dogecoin的价格继续超过这些水平，一些持有人可能会选择以收支平衡的水平退出，尤其是如果价格退回到以前的高点时。这可能会对资产产生抵抗，因为卖方可能希望清算其头寸以收回投资的资本。

The swelling of the 3–6 month HODL wave reflects a growing pool of holders who purchased during this recent period of market optimism. Should the price approach the $0.40 mark again, there could be increased selling pressure as these holders look to realize gains or minimize losses.

3-6个月的HODL浪潮的肿胀反映了越来越多的持有人库，这些持有人在最近的市场乐观时期购买了。如果价格再次获得$ 0.40的成绩，则可能会增加销售压力，因为这些持有人希望实现收益或最小化损失。

Consequently, the market may face resistance, which could hinder Dogecoin's upward momentum in the short term.

因此，市场可能会面临阻力，这可能会阻碍Dogecoin在短期内的上升势头。

Another important factor to consider is the current state of futures open interest (OI).

要考虑的另一个重要因素是当前未来的开放兴趣（OI）。

At around $1 billion, Dogecoin's futures open interest has declined significantly from the November and December 2024 average of $3 billion. This decline indicates that speculation and leveraged positions are not driving the current price movements.

Dogecoin的期货开放兴趣约为10亿美元，其平均值显着下降了30亿美元。这种下降表明，投机和杠杆位置并没有推动当前的价格变动。

Instead, the rally seems to be more spot-driven, with buyers accumulating Dogecoin in the spot market rather than relying on futures contracts.

取而代之的是，集会似乎更为有点驱动，买家在现货市场中积累了狗狗币，而不是依靠期货合约。

Alongside the declining futures open interest, futures volume for Dogecoin has also seen a notable decrease. The 7-day simple moving average (SMA) of futures volume has risen slightly from the bottom, but it still remains near the levels seen in October 2024.

除了下降的期货开放兴趣外，Dogecoin的期货量也显着下降。期货量的7天简单移动平均值（SMA）从底部略有上升，但仍保持在2024年10月的水平。

This suggests that, while there has been some renewed interest in Dogecoin futures, overall trading activity in this market remains relatively subdued compared to previous high points.

这表明，尽管对Dogecoin期货产生了一些新的兴趣，但与以前的高点相比，该市场的总体交易活动仍然相对柔和。