Dogecoin’s on‑chain activity has spiked, indicating that more users are moving the coin around the network. Yet, despite this uptick, the price sits at $0.07586, down 1.5 % over the last 24 hours. In a market that’s currently classified as “Extreme Fear” (fear‑greed index 23), the sentiment is largely bearish, even as Bitcoin and Ethereum enjoy small gains of 0.5 % and 0.6 % respectively.
The analyst’s observation that “no one really cares about the OG meme coin at the moment” reflects a broader trend: retail interest in DOGE has been eclipsed by newer meme tokens such as PEPE, which recently rallied 14 % but still trails the more established BONK. This shift suggests that DOGE’s price movements may be more influenced by speculative sentiment than by fundamental demand.
Looking ahead, traders should monitor whether the increased network activity translates into a sustained price recovery or simply a temporary spike. The recent July 4 posts from Elon Musk and Sam Saylor have reignited speculation, but without clear on‑chain evidence of long‑term adoption, the coin remains vulnerable to volatility. For now, DOGE’s journey is a reminder that meme coins can experience rapid activity surges even when the market mood is overwhelmingly fearful.