Dogecoin Activity Levels Crash To 4-Month Lows, Does This Spell Doom For The Meme Coin?

Quick Summary:

Based on this, DOGE could be at risk of suffering further price declines.  Dogecoin’s Activity Levels Crash To 4-Month Lows In an X post, Martinez revealed that Dogecoin’s network activity has dropped to its lowest level since October 2024, with just 66 whale transactions and fewer than 60,000 active addresses daily.

The whales massively influence DOGE’s price action, and the decline in whale transactions provides a bearish outlook for the meme coin.  With Dogecoin whales choosing to remain on the sidelines, the DOGE price could experience further declines.

However, he affirmed that as long as it holds above this level, then the foremost meme coin could still rally to as high as $4 in this cycle.  Final DOGE Pullback Before Next Leg Up In an X post, crypto analyst Trader Tardigrade suggested this might be the final Dogecoin pullback before the next leg up.

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Author / Journalist: Scott Matherson

Category: Crypto

Markets: United KingdomNorth Korea

Topics: Dogeusd Doge price Dogecoin Dogecoin news Retracement Angle Ali Martinez DOGE news Dogeusdt CoinMarketCap Meme coin Dogecoin price Bitcoinist Doge Trader Tardigrade

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-24 @ 12:00:29 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 437 words

Reading Time: 3 minutes read

Sentences: 70 lines

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Copyright Owner: © NewsBTC

News ID: 26373719

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