Recently, Dogecoin's price has shown signs of potential recovery, attributed to technical indicator analysis, including TD Sequential signals, and increased large holder activity.
Technical Indicators and Predictions
Analysts point to signals on the Dogecoin chart indicating potential trend exhaustion. The TD Sequential signal suggests a possible bottoming phase leading to price rebound. Expert Ali Martinez believes Dogecoin is oversold, creating conditions for an uptrend.
Whale Holder Activity
Despite Dogecoin's price dropping over 70% from its December 2024 high of $0.48, significant holders continue to increase their positions, indicating confidence in an eventual recovery. According to Santiment, wallets with over one million DOGE have increased by 1.24% since February.
Network Metrics and Resistance Levels
Analytics show that the number of active Dogecoin network addresses has reached its highest level in four months, indicating rising retail investor engagement. Historically, levels such as the multi-year uptrend line and the 200-week EMA near $0.13 have prompted bullish reversals. The primary resistance for Dogecoin at $0.22, if broken, will create favorable conditions for further upward movement.
While Dogecoin remains influenced by market fluctuations, the signals from technical indicators and whale activity present recovery opportunities in the near future.
