The Decline of Dogecoin: Can Dogecoin Recover from a 95% Drop in Activity?

The sharp decline in Dogecoin's network activity and sentiment has raised concerns about its future growth.

Dogecoin's network activity has dropped by 95%, and its price is struggling to maintain momentum.

A decrease in trading volume, MVRV ratio, and negative sentiment indicate that Dogecoin's potential for recovery is limited.

Dogecoin [DOGE] has seen a drastic decline in network activity by 95%, with active addresses plummeting from 2.66 million in November 2024 to 130,282 as of the time of writing.

At that time, Dogecoin's price was $0.2101, having slightly increased by 2.42% in the past 24 hours. The sharp decline in activity may be