Is Dogecoin (DOGE losing its charm? Despite the impressive price rally in May, recent trends suggest a decline in engagement and investor interest. As the crypto market continues to evolve, concerns are mounting about the broader implications of Dogecoin’s waning appeal. Dogecoin’s engagement metrics have faltered, leaving some experts wondering if the crypto’s allure is wearing off. Market indicators show a decline in trading volume, with fewer transactions taking place compared to previous months. Will this once-beloved digital currency be able to regain its momentum, or is its star beginning to fade? Dogecoin New Addresses Stagnant The growth of new addresses joining the Dogecoin community has hit a roadblock since May, according to a recent DOGE price report. However, on-chain data analysis reveals that this stagnation in new holders has not adversely affected the weighted sentiment associated with the cryptocurrency. Related Reading: BNB Chain Inks New Record With Soaring User Activity – A Boost For Price? Source: Santiment As of the latest update, DOGE’s weighted sentiment stands at -0.645. This metric provides insights int ..
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