Dogecoin's network activity hits its lowest level since October last year amid a double-digit weekly price drop for the asset.
Analysts remain optimistic, foreseeing a rise to a new all-time high if DOGE's valuation stays above $0.19.
DOGE's network activity has dwindled, with only 66 whale transactions and less than 60,000 active addresses per day.
Some believe DOGE's price reversal is possible if it remains above the $0.16-$0.19 support zone and receives further hype from Elon Musk and the Department of Government Efficiency.