Dogecoin, the industry’s premier meme coin, has consistently led most altcoins in price performance in recent months. However, it faces its toughest challenge amidst falling network activity and a price slump.
According to an analyst, Dogecoin experienced a massive 95% drop in active addresses on its network, suggesting a considerable decline in activity.
#Dogecoin $DOGE network activity has declined by 95%, dropping from 2.66 million active addresses in November to just 130,282 today! pic.twitter.com/SlH3qTuMP6
— Ali (@ali_charts) February 25, 2025
Should Dogecoin Holders Worry?
As Dogecoin’s price starts to recover, its network activity suffered. Crypto expert Ali Martinez notes the decline in the network activity, sharing that the drop in the number of active addresses began three months ago.
According to Martinez, the Dogecoin network registered 1,292,770 new active addresses by November 21st, 2024. The number soon surged 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, Dogecoin’s price has declined substantially in the last few days, with holders incurring losses. The popular meme coin is currently trading at $0.2077, a slight improvement from its $0.1977 price a few hours ago. Despite DOGE’s minimal gains, it’s still down from last week’s performance.
Drop In Network Activity
On February 23rd, it was noted that the network only had 30,815 new addresses, confirming the slide in network activity. The decrease in Dogecoin’s network activity was reflected in its price movement, which dipped from $0.4868 to $0.196. With price dipping and a decline in network activity, many commentators argued it’s a sign of weak demand for Dogecoin.
According to one data, there’s a 2.67% decline in the percentage of long-term Dogecoin investors, which means a less accumulation. Also, there’s a drop of 11.81% in mid-term coin holders, meaning they have already exited their positions.
Finally, the data indicates a 107.45% increase in short-term holders, which suggests an increase in speculative trading. This information shows that Dogecoin traders are more interested in short-term and speculative trading activities than long-term investment.
DOGE is starting its big move!
Heading to $5 soon.$DOGE #DOGE #Dogecoin #Memecoin pic.twitter.com/VaztdMxmSn
— @CryptoELlTES (@CryptooELITES) February 25, 2025
DOGE Price Targets
Although Dogecoin’s price is currently down, a few commentators expect a rebound soon. According to CryptoELITES, Dogecoin is up for a rebound, and poised to hit a new higher target.
The analyst offered three price targets for Dogecoin: $0.75, $1.5, and $5.
Featured image from Pexels, chart from TradingView
Christian Encila
They say journalists never truly clock out. But for Christian, that’s not just a metaphor, it’s a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.
Christian’s journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).
Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling – right up his alley!
So, he landed a killer gig at NewsBTC, where he’s one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).
Think Christian’s all work and no play? Not a chance! When he’s not at his computer, you’ll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.
Speaking of chill, Christian’s got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.
Here’s the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day – and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.
Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors – and bosses – he deeply respects.
So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.
Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
