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The adventures of cow pie-eating Desperate Dan and Korky the Cat sold more than two million copies a week at the peak of its popularity between the 1950s.
In recent years the comic, also one of the world's longest-running comics has recorded dramatic slumps in circulation as children turned to television programmes, video games and the internet.
Despite its publisher, DC Thomson, overhauling and relaunching the comic several times to halt the sales decline, it now sells fewer than 8000 copies a fortnight.
The comic, launched in 1937 for 2p, was rebranded as a fortnightly publication called Dandy Xtreme in 2007.
On Tuesday company executives confirmed that it had launched a review of its magazine business with industry insiders suggesting it could cease publication.
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