The Dogecoin metric (Doge) falls at 4 months – is a deeper correction to come?

Tl; DR

• The activity of the Dogecoin network has reached its lowest level since October of last year in the middle of a two -digit weekly decrease for the assets.
• Despite the lowering sign, some analysts remain optimistic, imagining an increase in a new ATH if Doge’s evaluation remains greater than $ 0.19.

Doge network activity decreases

The largest and oldest piece of memes has been declining severe lately. Its price fell 12% per week, and its market capitalization fell below 35 billion dollars.

According to For Ali Martinez, the activity of the active network has also experienced a substantial setback, recently plunging at its lowest level since October 2024. The analyst revealed that the network has only attended 66 whale transactions and less than 60,000 addresses active per day.

Development generally indicates a reduction in user engagement, which could be interpreted as bad news from investors and hinders the interest of the memes piece. This, in turn, could trigger an additional drop on the price.

On the other hand, the decrease in network activity can sometimes be correlated with the broader feeling of the market. The cryptocurrency sector has not been in its best in recent times, with Bitcoin (BTC) and many other digital digital assets registration important losses. For its part, the parts sector even made it possible to behave even worse, its total market capitalization increasing less than $ 70 billion.

How about a price reversal?

A few days ago, Martinez cut again, suggesting that Doge remains on a bullish path As long as the price remains above the support area from $ 0.16 to $ 0.19.

“If history is repeated, as long as Dogecoin has more than $ 0.19, it could come together at the resistance trend line at $ 4,” he predicted.

Another X user, using the abbot nickname case, assumed that the current reason for the same piece resembles that of Q1-Q2 2021 when Doge pumped $ 0.70.

“I think the next Doge Run will be fed by the media and DOGE department,” added the market observer.

To the uninitiated, Musk entered the political scene spearhead A new agency called the Government Ministry of Efficiency. It should reduce bureaucracy, reduce public spending and improve efficiency, but Doge’s supporters have quickly noticed that its abbreviation is the same as their favorite cryptocurrency.

Last month, the agency star The Dogecoin logo on its official website, which caused a two-digit price peak for the underlying token. It will be interesting to see if the department led by muscles will announce another initiative linked to the DOGE in the following months and if this will positively affect the assessment of the memes piece.