Only 66 whale transactions and less than 60,000 active addresses – Can Doge bounce off?

The price for Dogecoin is struggling to maintain a bullish rally in the middle of falling active addresses, lower whale transactions and reduced user binding.

Dogecoin (Doge) has extended his decline, which has currently traded around $ 0.2329, which reflects a decrease of 4.77% in the last 24 hours. This new DIP worsens its weekly performance, now due to 11.57%. This persistent slump takes place when cryptocurrency has difficulty maintaining the interest and activities of investors within their ecosystem.

After the climax at the end of 2024, Doges Price Traceration showed a consistent downward trend, with temporary spikes continue to give way to further waste. The continuing decline is raising concerns about the market stability and the future growth potential of Dogecoin.

Detaching Dogecoin user activity decreasing

One of the most important indicators for the falling dynamics of Dogecoin is the significant decline in daily active addresses. market Data The daily active addresses have dropped below 60,000 a day, which marks the lowest level since October 2024.

This decline indicates that the user's commitment and decrease in cryptocurrency is a reduced interest in cryptocurrency. In addition, the transaction volume has decreased in USD and reflects the decline in active addresses and the price of Doge. While the transaction volume previously increased during price peaks, it gradually reduced.

Reduced whale transactions

Another critical factor that contributes to the sluggish performance of Dogecoin is the decline in whale transactions of more than $ 1 million. The current Waltran action number has dropped to only 66 a day, which is significantly lower than the frequency that was observed in earlier price areas.

This reduction suggests that large owners on the market are less active and may affect volatility and price support. In the past, whale transactions have played a crucial role in influencing crypto price movements.

Dynamics of the holding owners

Data On Dotecoin Balances by Time, further insights into the shift in market dynamics. Recently there has been a decline of 2.67%, a significant decrease of 11.81% and a remarkable increase of 107.45% in different holding categories.

This trend reflects a decline in medium -term owners and an increase in short -term dealers and agrees with the general decline in whale transactions and active addresses.

Outbreak on the horizon?

Despite the continuing downward trend, an analyst remains optimistic about the future of Dogecoin. Pseudonymous Analyst Trader Tarderrade recently described The current consolidation of Doge as a “boring phase”, which she compares in 2017 with a stagnation period, which finally led to an almost 15-fold price climb.

According to historical patterns, Doge could have a significant outbreak of more than 1.30 US dollars after March 2025. However, this optimistic view depends on renewed interest and increased activities within the ecosystem.