Shiba

Pepe

Dogecoin

Shiba Inu

<p>Dogecoin price soared around 30% in the past month. However, it seems that fewer people are holding DOGE tokens, despite this rise in prices. Is Dogecoin dead? Where is the Dogecoin community?</p>
<h2 id="h-dogecoin-price-analysis">Dogecoin Price Analysis</h2>
<p>As of the latest update, Dogecoin is trading at approximately $0.076. It holds a market capitalization of around $10.78 billion, ranking 9th in the cryptocurrency market. Over the past month, DOGE has experienced a notable increase of about 26.25% in its value. This recent uptick follows a period of fluctuating performance, with a 22.38% increase over the last 60 days and a slight 0.54% rise in the past week. These figures suggest a resurgence of interest in Dogecoin, possibly influenced by various market factors and community activities.</p>
<figure class="wp-block-image size-large"><img loading="lazy" width="1814" height="807" src="https://cryptocdn.fra1.cdn.digitaloceanspaces.com/sites/8/DOGEUSD_2023-11-16_01-32-00.png" alt="" class="wp-image-121597">
</figure>
<h2 id="h-is-dogecoin-dead-a-few-factors-to-consider">Is Dogecoin DEAD? A Few Factors to Consider…</h2>
<h3 id="h-1-decline-in-dogecoin-millionaires">1. Decline in Dogecoin Millionaires</h3>
<p>Over the past year, there has been a significant decrease in the number of Dogecoin millionaires. The number of addresses holding over $1 million in DOGE has dropped from 1,046 in November 2022 to 633 as of November 16. This reduction is even more pronounced among larger holders, with those possessing over $10 million in DOGE declining from 160 to 88.</p>
<figure class="wp-block-image size-large"><a href="https://bitinfocharts.com/" target="_blank" rel="noopener noreferrer nofollow"><img loading="lazy" width="1061" height="545" src="https://cryptocdn.fra1.cdn.digitaloceanspaces.com/sites/8/Screenshot-2023-11-16-012835.png" alt="" class="wp-image-121596"></a>
 <figcaption>
  Dogecoin Rich List as of 16/11/23 – <a href="https://bitinfocharts.com/" target="_blank" rel="noopener noreferrer nofollow">bitinfocharts</a>
 </figcaption>
</figure>
<h3 id="h-2-price-depreciation-and-market-sentiment">2. Price Depreciation and Market Sentiment</h3>
<p>This decline in wealthy DOGE holders correlates with a substantial drop in the asset’s value. Dogecoin’s price has fallen by almost 50% from $0.15 in November 2022 to the current price of around $0.08. This bearish trend aligns with a general decrease in interest in meme coins, including others like <a href="https://cryptoticker.io/en/pepe-price-surge-105-in-the-last-30-days-pepe-10-cents-soon/" target="_blank" rel="noopener noreferrer nofollow">Pepe</a> (PEPE), <a href="https://cryptoticker.io/en/shiba-inu-price-prediction-2025/" target="_blank" rel="noopener noreferrer nofollow">Shiba Inu</a> (SHIB), and <a href="https://cryptoticker.io/en/floki-fi-locker-upgrade-2023/" target="_blank" rel="noopener noreferrer nofollow">Floki</a> (FLOKI).</p>
<figure class="wp-block-image size-large"><a href="https://www.tradingview.com/?aff_id=127958" target="_blank" rel="noopener noreferrer nofollow"><img loading="lazy" width="1814" height="807" src="https://cryptocdn.fra1.cdn.digitaloceanspaces.com/sites/8/DOGEUSD_2023-11-16_01-34-48-1.png" alt="" class="wp-image-121598"></a>
 <figcaption>
  DOGE, SHIB and PEPE 1-day chart – <a href="https://www.tradingview.com/?aff_id=127958" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>
 </figcaption>
</figure>
<h2 id="h-3-google-trends-showing-weak-interest">3. Google Trends showing weak interest</h2>
<p>Google Trends has indicated a significant decline in the number of searches related to Dogecoin. This trend suggests a waning public curiosity or discussion around this particular cryptocurrency. Historically, spikes in Google search trends for cryptocurrencies like Dogecoin have often coincided with surges in their market value or media attention. However, the current low levels of search interest could reflect a diminished hype or a shift in focus away from meme-based digital currencies.</p>
<figure class="wp-block-image size-large"><a href="https://trends.google.com/trends/explore?q=dogecoin&amp;hl=en" target="_blank" rel="noopener noreferrer nofollow"><img loading="lazy" width="1461" height="551" src="https://cryptocdn.fra1.cdn.digitaloceanspaces.com/sites/8/Screenshot-2023-11-16-011948.png" alt="" class="wp-image-121600"></a>
 <figcaption>
  Interest of Dogecoin over in the past year – <a href="https://trends.google.com/trends/explore?q=dogecoin&amp;hl=en" target="_blank" rel="noopener noreferrer nofollow">Google Trends</a>
 </figcaption>
</figure>
<p>This decrease in online searches might be indicative of a broader trend in the cryptocurrency market, where investors and enthusiasts are possibly turning their attention to other digital assets or blockchain technologies with more defined utility or innovative features.</p>
<h3 id="h-nb-address-multiplicity-and-market-accuracy">NB: Address Multiplicity and Market Accuracy</h3>
<p>It’s important to consider that a single investor can control multiple addresses. This factor could introduce inaccuracies in the actual count of Dogecoin millionaires, potentially skewing the perceived decline and attributing to potentially only one individual.</p>

Is Dogecoin DEAD? Those Numbers and Facts Don’t Lie…

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