Dogecoin (DOGE) faces a potential price drop due to stagnant network activity. Despite positive spikes in some metrics, the on-chain activity remains crucial for the meme coin's growth. Data from IntoTheBlock reveals a bearish trend in Dogecoin's network growth, with a decrease in new addresses by nearly 10% in the past week. The slowdown in network activity has led to a lack of new investors joining, impacting the number of transactions. Existing holders, particularly diamond holders with long-term investments, have played a key role in maintaining the price stability. However, the lack of new addresses and the rise of newer meme coins with higher gains have hindered Dogecoin's performance. With a modest year-to-date gain compared to other meme coins, Dogecoin's popularity has waned in a saturated market. As a result, the coin's price remains stagnant around $0.099. Read more AI-generated news on: https://app.chaingpt.org/news