最新报道：According to CoinMarketWatch, any investor who experienced the 2021 or 2024 market cycles understands the intensity of fear-mongering (FOMO) surrounding Dogecoin (DOGE). As the market rebounded in August, pushing the altcoin market capitalization past $1 trillion, the question arises: Will the frenzy return? Several notable data points from August are fueling DOGE investors' optimism. Retail and Whale Investors Accumulate DOGE CoinMarketCap data shows that DOGE's 24-hour trading volume recently exceeded $4 billion, a 100% increase from its average since the start of the month. According to Whale Insider, DOGE dominates retail trading in South Korea, reaching $300 million in volume, surpassing XRP. Whales also participated in the mid-August accumulation. Lookonchain data shows that a wallet associated with Galaxy Digital sent $125 million in USDC to Hyperliquid and purchased various tokens, including DOGE. BeInCrypto reported that addresses holding between 100 million and 1 billion DOGE accumulated over 2 billion DOGE, worth approximately $500 million, over the past week. Glassnode statistics show that DOGE ranks among the top altcoins in terms of seven-day percentage gains. The analytics platform noted that speculative demand from investors is rising. Price increases, surging exchange trading volume, and on-chain whale accumulation are reinforcing positive sentiment among retail and institutional investors. Net capital inflows signal bullish momentum Another signal comes from DOGE spot net capital inflows—a measure of net capital inflows into DOGE on exchanges. Historically, positive net capital inflows (such as those seen in October 2024) have coincided with bullish price action. Over the past 30 days, DOGE's net capital inflows have shifted from -$93 million on July 23 to over $7 million on August 13. This trend indicates that inflows are now exceeding outflows. A similar pattern in late 2024 drove a 340% price increase, pushing DOGE above $0.48. If net inflows remain positive in August, DOGE could replicate its 2024 rally, when widespread fear of loss (FOMO) drove the price to a new all-time high. Miner Activity Signals Confidence CoinWarz data shows that DOGE's hash rate hit a new high in August, exceeding 2.9 PH/s. Despite DOGE's price plummeting over 70% from its late 2024 peak to $0.13 in April 2025, miners haven't abandoned the network. The steadily rising hash rate indicates that miners continue to support the PoW network, strengthening its security and signaling confidence in DOGE's future profitability. Joao Wedson, founder and CEO of Alphractal, added that DOGE's Mining Equilibrium Index (a measure of miner profitability) rose in August, potentially signaling the start of a new buying wave. Together, these factors—surging trading volume, positive net inflows, and improving mining profitability—are converging to create bullish momentum for DOGE in August. Many investors hope a new wave of FOMO will replicate DOGE's 2021 upward structure and push the price toward $5. However, history warns of extreme volatility. The 2021 and 2024 cycles saw pullbacks of up to 90% and 70%, respectively.