Join our community of traders FOR FREE!

  • Learn
  • Improve yourself
  • Get Rewards
Learn More

Key moments

  • Dogecoin’s price has experienced a significant decline, dropping over 60% from its peak in December.
  • The cryptocurrency’s network activity has also plummeted, with active daily addresses decreasing by 95% from 2.4 million to 30,000.
  • A shift in holder composition shows long-term holders decreasing by 2.67% and mid-term holders dropping by 11.81%, while short-term speculators increase by 107.45%.

Dogecoin and Fellow Cryptocurrencies Plunge, Dragging Down Overall Market Value

Dogecoin’s price has dropped significantly, over 60%, from its $0.4843 peak in December. The current price of $0.18 marked a 9.35% decline. Active daily addresses have also plummeted by 95%, from 2.4 million just three months prior to only 30,000 today. In just two months, its value has halved, falling from $0.4868 to $0.1977. This once-trending meme token, championed by Elon Musk, is experiencing significant instability.

On-chain data reveals that new Dogecoin addresses peaked at 2.4 million on November 21, 2024, after reaching 1.29 million earlier that month. However, this surge was short-lived. By February 23, 2025, new addresses had fallen to 30,000, a daily loss of 2.37 million. This drastic drop is comparable to a city of ten million shrinking to a town of 300,000.

Long-term holders (over one year) decreased by 2.67%, while mid-term holders (1-12 months) dropped by 11.81%. Conversely, short-term speculators increased by a dramatic 107.45%. This shift indicates a weakening of the coin’s fundamental support base, transforming the market into a speculative playground.

The mid-February price drop to $0.196 coincided with record low network activity. This simultaneous decline in price and user engagement forms a dangerous “death cross” pattern. Analyst Ali Martinez warns that without sustained user engagement, any price recovery will be unsustainable.

TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action and Social Trading.

Related News

  • European stocks positive awaiting US dataEuropean stocks positive awaiting US data European stocks reported a climb in recent in benchmark indexes as EURO STOXX 50 raised 1.34%, CAC 40 jumped by 1.32%, DAX 30 rallied 1.25%. There is still a trend of cautiousness among investors as they consider Fed move towards reducing […]
  • Delta Shares Plunge 10% in Pre-Market Trading After Revised Q1 OutlookDelta Shares Plunge 10% in Pre-Market Trading After Revised Q1 Outlook h2>Key momentsDelta Air Lines reduces its first-quarter revenue and earnings per share forecasts, citing decreased consumer and corporate confidence. The company attributes the lowered outlook to softening domestic demand, despite […]
  • GBP/USD tumbled on disappointing manufacturing dataGBP/USD tumbled on disappointing manufacturing data British pound lost positions sharply against the US dollar on Tuesday, following the official report, regarding manufacturing production, which stated the largest drop in four months in May.GBP/USD tumbled to a session low at 1.4831 at […]
  • Starbucks Corp share price up, to expand consumer base via two new store typesStarbucks Corp share price up, to expand consumer base via two new store types Starbucks Corp, the worlds biggest coffee-shop chain, is seeking to bolster its competitiveness by opening two new types of stores, one aimed at tapping the rising demand for upscale reserve coffee, while the other will be oriented towards […]
  • NZD/USD off session lowsNZD/USD off session lows New Zealand dollar managed to distance from session lows against its US peer during Wednesdays early trade, following the release of disappointing data, regarding trade balance in China, while market players began focusing on the FED minutes, […]
  • GBP/USD slid ahead of BoE inflation reportGBP/USD slid ahead of BoE inflation report The sterling retreated against the US dollar on Wednesday for a second day in a row ahead of Bank of England Governor Mark Carneys statement on forward guidance, regarding interest rates in the United Kingdom.GBP/USD hit a session low at […]