The article discusses the recent decline of Dogecoin, which has dropped nearly 17% in the past week, following the downward trend of Bitcoin. Despite being the largest meme coin with a market cap of $31.27 billion, Dogecoin has seen a significant decrease in network activity, with active addresses dropping by 95%. The article also mentions a short-term recovery in Dogecoin, with a 4-hour surge of 4.68%, indicating a potential bounce back from the $0.20 mark. However, the long-term holders of Dogecoin are in denial according to a crypto analyst, and if the broader market continues to crash, a prolonged correction may occur.



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