disregarded the hype that surrounded the Merge. Furthermore, the memecoin continued with its month-long price decline. As of this writing, SHIB exchanged hands at $0.00001171, having declined by 37% in the last 30 days.On the other hand, the price of DOGE rallied by 2% moments after the Merge, data from
showed. However, with its price pegged at $0.05933 at press time, the leading meme coin had lost all of its post-Merge gains.DOGE had seen a 2% decline in its price in the last 24 hours. Within the same period, the asset’s trading volume dropped by 23%. In fact, since 17 August, as the price of the meme coin fell, its daily trading volume followed suit.showed. The asset’s price also dropped by 35% within the same period.
Within the same period, the count for DOGE whale transactions also fell. According to data from Santiment, the daily count for whale transactions that exceeded $100,000 fell by 91%. In addition, the daily count for whale transactions above $1 million also dropped by 91% in the last 30 days.The DOGE network has been marked by stagnancy in the last month. The asset’s age consumed has fallen consistently over the 30-day period. This indicated that not many DOGE coins changed addresses.
Furthermore, its mean dollar invested age continued to rise, hinting at growth in coin dormancy on the network. Without a change in the movements of these key metrics, the longer the network stagnancy continues, the harder it will be for the price of DOGE to rise.Subscribe to get it daily in your inbox.