{"id":14718,"date":"2025-02-24T15:17:12","date_gmt":"2025-02-24T15:17:12","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=14718"},"modified":"2025-02-24T15:17:12","modified_gmt":"2025-02-24T15:17:12","slug":"dogecoin-doge-metric-falls-to-4-month-low-is-a-deeper-correction-ahead","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=14718","title":{"rendered":"Dogecoin (DOGE) Metric Falls to 4-Month Low \u2013 Is a Deeper Correction Ahead?"},"content":{"rendered":"<div>\n<p><strong>TL;DR<\/strong><\/p>\n<ul>\n<li><span data-preserver-spaces=\"true\">Dogecoin\u2019s network activity has hit its lowest level since October last year amid a double-digit weekly price drop for the asset.<\/span><\/li>\n<li>Despite the bearish sign, some analysts remain optimistic, envisioning a rise to a new ATH if DOGE\u2019s valuation stays above $0.19.<\/li>\n<\/ul>\n<h2><span data-preserver-spaces=\"true\"><a href=\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/02\/OM_CB-1.jpg\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-384686\" src=\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/02\/OM_CB-1.jpg\" alt=\"\" width=\"1201\" height=\"720\" srcset=\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/02\/OM_CB-1.jpg 1201w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/02\/OM_CB-1-300x180.jpg 300w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/02\/OM_CB-1-1024x614.jpg 1024w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/02\/OM_CB-1-768x460.jpg 768w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/02\/OM_CB-1-50x30.jpg 50w\" sizes=\"auto, (max-width: 1201px) 100vw, 1201px\"><\/a><\/span><\/h2>\n<h2>DOGE Network Activity Dwindles<\/h2>\n<p><span data-preserver-spaces=\"true\">The biggest and oldest meme coin has been in severe decline lately. Its price has plummeted by 12% weekly, and its market capitalization has tumbled below $35 billion.<\/span><\/p>\n<figure id=\"attachment_384685\" aria-describedby=\"caption-attachment-384685\" style=\"width: 571px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/02\/doge.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-384685\" src=\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/02\/doge.png\" alt=\"DOGE Price\" width=\"571\" height=\"400\" srcset=\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/02\/doge.png 1044w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/02\/doge-300x210.png 300w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/02\/doge-1024x717.png 1024w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/02\/doge-768x538.png 768w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/02\/doge-50x35.png 50w\" sizes=\"auto, (max-width: 571px) 100vw, 571px\"><\/a><figcaption id=\"caption-attachment-384685\" class=\"wp-caption-text\">DOGE Price, Source: CoinGecko<\/figcaption><\/figure>\n<p><a class=\"editor-rtfLink\" href=\"https:\/\/x.com\/ali_charts\/status\/1893745896380154083\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"external\"><span data-preserver-spaces=\"true\">According<\/span><\/a><span data-preserver-spaces=\"true\"> to Ali Martinez, the asset\u2019s network activity has also experienced a substantial setback, recently dipping to its lowest level since October 2024. The analyst revealed that the network witnessed only 66 whale transactions and less than 60,000 active addresses per day.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The development generally indicates reduced user engagement, which could be interpreted as bad news from investors and hamper interest in the meme coin. This, in turn, could trigger additional downward pressure on the price.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">On the other hand, dwindling network activity can sometimes correlate with the broader market sentiment. The cryptocurrency sector has not been in its best shape lately, with Bitcoin (BTC) and numerous other leading digital assets <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/cryptopotato.com\/these-altcoins-bleed-out-as-bitcoin-btc-loses-96k-level-market-watch\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\"><span data-preserver-spaces=\"true\">recording<\/span><\/a><span data-preserver-spaces=\"true\"> significant losses. For its part, the meme coin sector has performed even worse, with its total market capitalization slipping under $70 billion.\u00a0<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">How About a Price Reversal?<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">A few days ago, Martinez chipped in again, <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/cryptopotato.com\/doge-could-still-surge-to-3-if-it-holds-this-key-support-line-analyst\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\"><span data-preserver-spaces=\"true\">suggesting\u00a0<\/span><\/a><span data-preserver-spaces=\"true\">that DOGE remains <\/span><span data-preserver-spaces=\"true\">on a bullish path<\/span><span data-preserver-spaces=\"true\"> as long as the price stays above the $0.16-$0.19 support zone.\u00a0<\/span><\/p>\n<blockquote>\n<p><span data-preserver-spaces=\"true\">\u201cIf history repeats, as long as Dogecoin holds above $0.19, it could rally to the resistance trendline at $4,\u201d he predicted.<\/span><\/p>\n<\/blockquote>\n<p><span data-preserver-spaces=\"true\">Another X user, using the moniker Cas Abb\u00e9, <a href=\"https:\/\/x.com\/cas_abbe\/status\/1893980742331380133\" data-wpel-link=\"external\" target=\"_blank\">assumed<\/a> that the meme coin\u2019s current pattern resembles the one from Q1-Q2 2021 when DOGE pumped to $0.70.\u00a0<\/span><\/p>\n<blockquote>\n<p><span data-preserver-spaces=\"true\">\u201cI think the next DOGE run will be fueled by Elon and D.O.G.E. department hype,\u201d the market observer added.<\/span><\/p>\n<\/blockquote>\n<p><span data-preserver-spaces=\"true\">To the uninitiated, Musk entered the political scene by <a href=\"https:\/\/cryptopotato.com\/trumps-d-o-g-e-promises-to-slash-bureaucracy-heres-what-you-need-to-know\/\" data-wpel-link=\"internal\">spearheading<\/a> a new agency called the Department of Government Efficiency. It is expected to reduce bureaucracy, cut government spending, and enhance efficiency, but DOGE proponents quickly noticed that its abbreviation is the same as their favorite cryptocurrency.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Last month, the agency <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/cryptopotato.com\/dogecoin-price-explodes-as-department-of-government-efficiency-website-adds-meme-coin-logo\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\"><span data-preserver-spaces=\"true\">featured<\/span><\/a><span data-preserver-spaces=\"true\"> Dogecoin\u2019s logo on its official website, which caused a double-digit price spike for the underlying token. It will be interesting to see whether the Musk-led department will announce another DOGE-related initiative in the following months and whether this will positively affect the meme coin\u2019s valuation.<\/span><\/p>\n<p>The post <a href=\"https:\/\/cryptopotato.com\/dogecoin-doge-metric-falls-to-4-month-low-is-a-deeper-correction-ahead\/\" rel=\"nofollow\">Dogecoin (DOGE) Metric Falls to 4-Month Low \u2013 Is a Deeper Correction Ahead?<\/a> appeared first on <a href=\"https:\/\/cryptopotato.com\/\" rel=\"nofollow\">CryptoPotato<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>TL;DR Dogecoin\u2019s network activity has hit its lowest level since October last year amid a double-digit weekly price drop for the asset. Despite the bearish sign, some analysts remain optimistic, envisioning a rise to a new ATH if DOGE\u2019s valuation stays above $0.19. DOGE Network Activity Dwindles The biggest and oldest meme coin has been [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-14718","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/14718","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=14718"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/14718\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14718"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14718"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14718"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}