Dogecoin, the first same corner of the industry, has always directed most altcoins in price performance in recent months. However, it faces its most difficult challenge in the middle of the network activity downwards and a drop in prices.
According to an analyst, Dogecoin experienced a massive drop of 95% of active addresses on its network, suggesting a considerable drop in activity.
Should Dogecoin holders worry?
While the price of Dogecoin begins to recover, its network activity has suffered. The expert in crypto Ali Martinez notes the drop in network activity, sharing that the drop in the number of active addresses began three months ago.
According to Martinez, the Dogecoin network recorded 1,292,770 new active addresses before November 21, 2024. The number quickly increased to 2.4 million active addresses, but this number immediately dropped. Between December 2024 and February 2025, the number of addresses dropped by around 95%.
Meanwhile, the price of Dadecoin has decreased considerably in the past few days, the holders undergoing losses. The Popular Meme piece is currently negotiating at $ 0.2077, a slight improvement compared to its price of 0.1977 a few hours ago. Despite the minimum Dogey gains, he is still down compared to last week’s performance.
Respond to network activity
On February 23, it was noted that the network had only 30,815 new addresses, confirming the slide in the activity of the network. The decrease in the activity of the Dogecoin network has reflected in its price movement, which increased from $ 0.4868 to $ 0.196. With a prices dip and a drop in network activity, many commentators argued that it was a low demand for Dogecoin.
According to a data, there is a 2.67% drop in the percentage of long -term Dogecoin investors, which means less accumulation. In addition, there is a drop of 11.81% among the holders of medium-term coins, which means that they have already left their positions.
Finally, the data indicates an increase of 107.45% of short -term holders, which suggests an increase in speculative trading. This information shows that Dogecoin traders are more interested in short -term and speculative negotiation activities than long -term investments.
Doge Price Targets
Although the price of Dogecoin is currently down, some commentators expect a rebound soon. According to cryptocurrencies, Dogecoin is ready for a rebound and ready to reach a new higher target.
The analyst offered three price targets for Dogecoin: $ 0.75, $ 1.5 and $ 5.
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