Dogecoin Price Unlikely to Rebound as Transaction Count Plummets 94%

Dogecoin price has plunged by more than 54% year-to-date. While such dips often represent a local bottom, on-chain data suggests that a rebound may not be anywhere in sight. In fact, the DOGE transaction count is currently at record lows, signaling reduced interest in the meme coin. As the demand wanes, how low will DOGE plunge?