95% of Dogecoin (DOGE) Network Activity Has Disappeared, Suggesting Considerable Decline in Activity

Dogecoin, the industry’s premier meme coin, has consistently led most altcoins in price performance in recent months. However, it faces its toughest challenge amidst falling network activity and a price slump.

Dogecoin (CRYPTO: DOGE) has been largely leading most altcoins in terms of price performance in recent months. However, the meme coin is now facing its toughest challenge yet.

After a period of surging network activity that saw over 2.4 million active addresses on its network, the network has drastically slowed down.

According to an analyst, Dogecoin has seen a massive 95% drop in the number of active addresses on its network, which suggests a huge decline in activity.

“#Dogecoin ($DOGE) network activity has declined by 95%, dropping from 2.66 million active addresses in November to just 130,282 today! ”

The drop in the number of active addresses began three months ago, as noted by crypto expert Ali Martinez. According to Martinez, by November 21st, 2024, the Dogecoin network registered 1,292,770 new active addresses. The number quickly rose to 2.4 million active addresses. However, this number immediately dropped.

Between December 2024 and February 2025, the number of addresses dropped by around 95%. The network now has only 130,282 active addresses.

Meanwhile, Dogecoin’s price has dropped substantially in the last few days, and several holders are in the red. The popular meme coin is currently trading at $0.2077, a slight improvement from its $0.1977 price a few hours ago.

Despite DOGE’s minimal gains, it’s still down from last week’s performance, which saw the coin hit $0.24 after a bullish run.

From November 2024, when the number of active addresses began to drop, Dogecoin’s price dropped from $0.4868 to $0.196.

The decrease in Dogecoin’s network activity is reflected in its price movement, which dipped notably after reaching highs of over $0.5.

As shared by one data provider, there’s a 2.67% decline in the percentage of long-term Dogecoin investors, which means a less accumulation.

Also, there’s a drop of 11.81% in mid-term coin holders, meaning they have already exited their positions. Finally, the data indicates a 107.45% increase in short-term holders, which suggests an increase in speculative trading.

This information shows that Dogecoin traders are more interested in short-term and speculative trading activities than long-term investment.