Dogecoin – Why the meme coin might revisit its October lows following a 22% decline.

Low social media engagement and declining on-chain activity are pressing issues for DOGE.
The next price targets for DOGE could be the lows seen in October.
Dogecoin [DOGE] has dropped 20% from its Saturday high of $0.171. Over the past 24 hours, liquidations totaling $37.15 million occurred across all exchanges for DOGE alone, with $31.87 million, or 85.78%, being long positions.

Dogecoin experienced a 22.6% price decline in the last 24 hours, while Bitcoin [BTC] lost 10.68% of its value as panic gripped global markets due to trade war developments. Further losses may be on the horizon, so investors should exercise patience.

The trend of social dominance has also been steadily declining. March did not mark the most bearish period for DOGE, even with the notable price declines. Similarly, social volume hit new lows in April. This indicates that, without a reversal in the price trend, interest and investment will likely keep fading from the market.

A notable increase in social dominance took place on 12 March, coinciding with a sharp rise in daily active addresses. This came after a 20% price recovery from the recent lows in just one day, emphasizing the vital influence of positive sentiment on the Dogecoin market.