The reigning premiers were the team to beat in the first half of 2022, winning their opening 10 games and were the firm premiership favourite.
However, three consecutive losses between Rounds 11-13 and inconsistent form has seen them slip to third, two wins away from ladder leaders Geelong.
Despite this, at their best, they are still the best in the competition and no one will count them out from achieving premiership glory despite the blip in form.
The Dees have a knack for making all their players vital cogs in a team where everyone has and knows their roles, and will no doubt look for further AFL-ready depth for their 2023 side, as they did with ex-Saint Luke Dunstan.
One area of concern is their forward line stocks, with Sam Weideman out of favour and Mitch Brown out of contract at season's end.
Ben Brown has been ever present since crossing from North Melbourne at the end of 2020, while Tom McDonald has struggled with injury and form in recent years.
Star half-back/midfielder Angus Brayshaw was subject to intense speculation about his future as a free agent before signing a massive six-year deal to stay at the Dees.
But young West Australian star ruckman Luke Jackson appears set to request a move to Fremantle for 2023, leaving their big man stocks quite thin.
So we've compiled a list of five players who the Demons could target this off-season to bolster their already star-studded squad in 2023.
TRADE TARGETS: ADELAIDE, BRISBANE, CARLTON, COLLINGWOOD, ESSENDON, FREMANTLE, GEELONG, GWS, HAWTHORN
There is uncertainty around Hawthorn champion Jack Gunston's future beyond 2022, with the 30-year-old still unsigned heading into the final two rounds of the season.
Gunston is an unrestricted free agent this year, meaning he is free to move where he wishes and Melbourne could be the perfect landing spot.
Fresh off a five-goal performance against Gold Coast on the weekend, Gunston continues to remind us of his remarkable talents despite not producing the same numbers he was in past seasons.
As reliable as they come, Gunston could slot in perfectly as second fiddle to Ben Brown and/or Tom McDonald as a more mobile tall, while also having the ability to work alongside deadeye Bayley Fritsch.
The 2018 All-Australian has kicked 26 goals in 14 games for the Hawks this year and might wish to push for immediate success elsewhere this off-season.
We've seen the success of former teammate Isaac Smith at the Cattery, with the wingman becoming a regular in the side as they prepare for yet another premiership push and Gunston might want to emulate something similar.
In the end, it's Gunston's decision but Melbourne should be asking the question and offering him off-season success to help bolster their tall forward stocks in 2023.
A young ruck/forward type that could suit Melbourne's needs should Jackson depart, forgotten Swan Hayden McLean could be a cheap option this off-season for the Demons.
At just 23 years old, the Victorian has found spots in the strong Sydney forward line hard to come by with the likes of Sam Reid, Buddy Franklin and Logan McDonald all above McLean in the pecking order.
He has featured in eight games for the Swans this year, kicking 10 goals and averaging 3.4 marks a game as well.
We've seen glimpses of his potential as a strong marking key forward in his small sample size of 30 games, including a four-goal haul against Geelong last year in Round 7.
He'd provide depth and wouldn't be stuck behind as much of a log jam at Melbourne and would be the first up to take the ruck handle if Gawn went down at any stage next year.
While he is contracted, the Swans aren't likely to stand in his way should he seek more opportunities elsewhere for 2023.
Port Adelaide youngster Miles Bergman is a young and extremely versatile player that appears set to explore a return to Victoria this off-season.
While not officially linked to any clubs in particular, it is believed the 20-year-old has been attracting interest from multiple Victorian teams ahead of the trade period this off-season.
Bergman has become a key part of the Power side in recent weeks, playing across a wing and half-back role, after finding games hard to come by early.
Currently averaging 17.1 disposals and 5.3 marks this year, Bergman can play anywhere on the field, an aspect of his games that clubs admire.
The Demons could look into a move for Bergman for not only more young talent at the club but also as a player who could become a key piece instantly.
He is contracted for next season so a move would likely cost the side looking to secure Bergman a few picks in return but it could be well worth investing in.
It's unclear whether Port will try to tie down Bergman or entertain offers but either way, clubs will be coming thick and fast to enquire about his availability.
Definitely, a storyline to keep an eye on this off-season.
Our second ruck/forward type player on this list is Dockers big man Rory Lobb.
Linked with a move to Victoria, with the Bulldogs believed to be the front runner, Lobb appears set to depart from Fremantle this year.
The 29-year-old has enjoyed a career-best year in front of goal, kicking 34 goals in 18 games including an impressive haul of four coincidentally against the Bulldogs over the weekend.
With Jackson linked with Fremantle, Melbourne could ask for Lobb in return or at least look into a separate move to receive the 206cm big man as an ideal replacement.
While he will be 30 heading into next season, the former Giant is showing signs of slowing down and based on his 2022, could be a huge threat in the Demons' forward line and can pinch hit for Gawn when required.
As stated earlier, it is more likely he becomes a Bulldog next year, which has helped influence our final pick on this list.
If Lobb is to join the Bulldogs, out-of-contract Bulldog Josh Schache could be a sneaky option for the Dees this off-season.
Already out of favour at the Kennel and tried in just about every position on the ground, Schache's opportunities would become much more scarce in 2023 with Lobb's arrival.
The 24-year-old, who booted seven majors over the weekend in the VFL, has struggled for consistency at AFL level and a move could do him good.
The former pick number two can play as a deputy ruckman if needed and might benefit from playing with the likes of Ben Brown, Tom McDonald or Sam Weideman in the forward line.
Just like Ben Brown, who struggled in 2020 and had AFL fans doubting his ability, a move to Melbourne could rejuvenate his career.
He might not set the world alight in the future but at the very least could become a goal or two per game type of player at Melbourne.
Again, this is pure speculation with no substance but it wouldn't be a crazy move, he'd come for next to nothing and at the very least will provide ready-made key forward depth to the stocks at Melbourne.