Doge Whale Transactions have sharply declined and large-scale transfers have slowed down.

 
Dogecoin， Once in member Mania, we now see a sharp decline in whale trading and overall market activity. Large scale transactions have greatly dried up, accompanied by retail participation. Due to the difficulty in finding stability in Doge's price, many people are questioning whether this is just a temporary calm or a sign that the hype is completely disappearing.

Du Whale Trading Exhausts
The whale activity of dogs has sharply decreased in the past few weeks, with prices dropping sharply.
 
Large transfers worth $100000 or more have significantly decreased, increasing from 202000 transactions per week to 6.2k. Meanwhile, transactions exceeding $1 million fell from $3490 to $850 during the same period. Such a sharp decrease implies that whales either leave the market or choose to sit outside.
 
Does Doge's price lose momentum?
At the time of writing, Doge's trading price dropped from its peak in December to $0.24765. The 50 day moving average is $0.33226, serving as a resistance level, while the price remains at the FIB 0.236 retracement level of $0.25608, indicating sustained bearish pressure.
 
Careful observation of the Bollinger Band indicates that Doge has consolidated within its lower range, with limited signal volatility. If support is around $0.20, the next major support level will be $0.20101, based on Fibonacci retracement data.
 
Active address and network participation decrease
The daily active address of the dog also plummeted to 37.6k, in sharp contrast to the 1.68 million peak seen at its November rally in November. This significant decline indicates that retail profits have been weakening, exacerbating concerns that Doge hype may be disappearing.
 
The MVRV ratio (30d) also shows a similar trend, decreasing to -23%, which is a sign that most holders are currently at a loss and may prevent further trading activity.
 
What does this mean for Doge's future
Although Dogecoin's whale activity and overall participation indicators have declined, in history, Memecoin has seen periods of dormancy followed by explosions. However, current indicators indicate a lack of strong accumulation. This means that unless whales participate in the rebound, it is unlikely to hold a rally. If Doge's daily active address and whale trading remain low, it may find it difficult to regain its previous momentum.