In the past week, DOGE has fallen by 16%, with the current price between $0.16 and $0.17.
On-chain data has also released positive signals
Although the price fluctuations are small, network activity has clearly increased. Over the past month, the number of active addresses for DOGE rose from 110,000 to 163,000, an increase of 47%. An increase in active addresses usually indicates a recovery in market demand, which may support price increases. Although Dogecoin's price is still far below February's peak of $0.2853, there are still optimistic predictions in the market that DOGE may experience a strong rebound and soar 131% before March 20, reaching $0.39.
Currently, Dogecoin's market value has dropped by one-third. Has it been abandoned by Musk?
Let’s take another look at the current state of Dogecoin (DOGE), which is truly lamentable. As the "meme coin king" endorsed by Musk, Dogecoin used to be glorious, with prices once soaring to $0.48 and its market value rising significantly. However, this good fortune did not last long, as Dogecoin's price has recently dropped to $0.17, and its market value has shrunk by one-third!
Cryptocurrency enthusiasts are jokingly asking: "Is Elon Musk too busy building rockets to remember Dogecoin?" There are also pessimists who state: "Dogecoin has really been 'abandoned' this time; even Musk can't save it." However, loyal fans of Dogecoin still firmly believe: "The spring of meme coins will return, and Dogecoin will rise again!"
