Dogecoin (DOGE) Network Slowdown Raises Concerns About Its Future

The Dogecoin [DOGE] network is facing a significant slowdown, with key metrics showing notable drops. These declines coincide with a 13% loss in value

Dogecoin [DOGE] price dropped over 13% in the past week, raising concerns about its future.

The memecoin faced a significant slowdown in network activity, with key metrics hitting multi-month lows.

This decline coincided with a broader market cooldown, as several cryptocurrencies experienced setbacks.

According to data from CoinMarketCap, DOGE price dropped 13.03% in the past seven days, trading at $0.233 at press time. The broader cryptocurrency market also faced a downturn, with a 1.66% loss in the past day.

However, seven-day losses were minimal at 0.08%.

This decline in Dogecoin followed a period of relative strength in late 2024, when DOGE benefitted from renewed retail interest and whale accumulation.

But recent price action suggested fading momentum, with both trading volume and on-chain activity hitting multi-month lows.

After peaking in October 2024, DOGE faced resistance at key levels, and its price trajectory shifted.

Whale transactions dropped to an average of 66 per day, while large-value trades dwindled significantly.

Moreover, network usage hit its lowest since October 2024, signaling a decline in investor participation.

While hype and speculation have historically driven Dogecoin, the current pullback highlighted the memecoin’s vulnerability in an evolving market landscape.

The key question now was whether DOGE could regain momentum or face further downside.

Dogecoin’s network activity experienced a sharp decline, with key metrics hitting multi-month lows.

Whale transactions, once a driver of market momentum, collapsed to just 66 per day, indicating a steep decline in high-value trades.

Meanwhile, daily active addresses dropped below 60,000, signaling reduced user engagement and on-chain participation.

According to data from Santiment, a clear trend emerged—after peaking in late 2024, DOGE’s network usage declined alongside its price.

Transaction volume in USD followed suit, suggesting dwindling demand and liquidity.

Historically, DOGE has relied on strong community participation and speculative interest, but the latest data raised concerns about weakening investor confidence.

Unless network activity showed signs of recovery, DOGE could struggle to regain traction, leaving it vulnerable to further price corrections in the near term.