DOGE Rush Stalls: New Address Creation Drops by 97% Since November

• Following the incredible DOGE rush of the last 4 months, plans for continued Dogecoin growth have halted
• Dogecoin is currently trading at $0.2054, down 3.37% over the last 24 hours, with a 38% drop over the past 30 days
• Dogecoin network activity dropped by 97.6% over the last 4 months, signaling a significant decrease in user engagement

Following the incredible DOGE rush of the last 4 months, plans of a continuing forward movement for Dogecoin have come to a halt. 

According to CoinMarketCap, $DOGE is currently trading at $0.2054, down 3.37% over the last 24 hours. The larger picture doesn’t look more optimistic for holders as the currency is down by 19.22% over the week, adding to 38% losses during the past 30 days. 

Dogecoin lost the key support zone of thirty cents on February 2nd, and since then, buyers have been unable to recover that margin. While the asset still hasn’t erased all profits seen since the U.S. election, $DOGE is currently trading at its lowest point since November 9.

Dogecoin Activity Down 97.6% Since November

A report by well-known social media analyst Ali Martinez has shed a worrisome light on the state of the Dogecoin market. According to the post, the Docecoin network activity has dropped significantly over the last 4 months. 

In November, the Dogecoin network saw a staggering 1.29 million new addresses created. However, since then the number has dropped considerably. As of February 26, only 30,815 new addresses have been added. 

To put it in numbers, Dogecoin network activity dropped by 97.6% over the last 4 months, signaling a significant decrease in user engagement during that timeframe. 

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