Dogecoin price dropped from $0.1324 on December 23 to $0.1293 on the 24th, a decrease of 2.36%. The current price continues to drop to $0.1282, with a 24-hour decline expanding to 3.12%. It has the largest decline among the top ten cryptocurrencies by market capitalization, which is $21.5 billion, ranking tenth.

As the leading meme coin, Dogecoin's price trends have always been heavily influenced by sentiment and social media buzz. Recently, without endorsements from KOLs like Musk, community discussion has been relatively muted. Lacking catalysts, DOGE naturally becomes a target for profit-taking, especially as the overall market weakens, with meme coins being the first to bear the brunt as risk assets.

On-chain data shows that Dogecoin's average daily transaction count and active addresses have both declined, reflecting a cooling of speculative enthusiasm. The number of large transfers has also decreased, indicating that whales are not very active. In the absence of new capital inflows and support from large holders, the price naturally tends to fall.

However, it should be noted that Dogecoin, as an established meme coin, holds a unique position. The community foundation is strong, and payment application scenarios are gradually expanding. Although there is significant price volatility in the short term, every time the market warms up, DOGE often sees a substantial increase due to its high visibility, making it attractive to newcomers and retail investors.

Investment advice for DOGE leans more towards short-term trading rather than long-term holding. It may be appropriate to allocate a small amount during extreme market pessimism, but positions should not be too heavy, and stop-loss and take-profit levels should be set carefully. This is because the volatility of meme coins far exceeds that of mainstream coins, necessitating a more flexible operational strategy. In the long run, DOGE's value support primarily comes from community consensus rather than technological innovation; investors need to recognize this.