{"id":17714,"date":"2025-03-18T23:16:30","date_gmt":"2025-03-18T23:16:30","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=17714"},"modified":"2025-03-18T23:16:30","modified_gmt":"2025-03-18T23:16:30","slug":"dogecoin-millionaires-are-buying-dips-as-doge-price-eyes-30-rally","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=17714","title":{"rendered":"Dogecoin millionaires are buying dips as DOGE price eyes 30% rally"},"content":{"rendered":"
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\"Dogecoin<\/p>\n

Dogecoin (DOGE<\/a>) price has crashed by over 70% after hitting $0.48 in December 2024. Interestingly, the memecoin\u2019s richest holders have accumulated during the price declines, indicating their confidence in a potential rebound in the coming weeks.<\/p>\n

Dogecoin onchain metrics hint at price rebound <\/h2>\n

Onchain data from Santiment shows<\/a> that wallets holding at least 1 million DOGE have increased by 1.24% since early February, despite declining prices. Meanwhile, active addresses have surged to a four-month high, suggesting rising network activity.<\/p>\n

\"Dogecoin
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Dogecoin addresses holding at least a million DOGE vs. price. Source: Santiment<\/em><\/p>\n<\/figcaption><\/figure>\n

Typically, when large holders accumulate an asset while prices decline, it signals that they see undervaluation and are positioning for a future rebound. <\/p>\n

An increase in active addresses indicates higher engagement on the network\u2014possibly reflecting growing retail interest.<\/p>\n

If this surge in user activity stems from real adoption rather than speculative trading or panic selling, it could provide the onchain foundation needed for a price recovery. A similar pattern was observed during the DOGE\u2019s 200%-plus price rally<\/a> in November.<\/p>\n

DOGE is oversold, raising chances of 30% rally <\/h2>\n

Dogecoin is currently testing a support confluence comprising a multi-year ascending trendline support, a level that has historically triggered strong bullish reversals and the 200-week exponential moving average (200-week EMA) at around $0.13.<\/p>\n

\"Dogecoin
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DOGE\/USD weekly price chart. Source: TradingView<\/em><\/p>\n<\/figcaption><\/figure>\n

Additionally, the Stochastic RSI, an indicator measuring momentum and overbought\/oversold conditions, shows a bullish cross in the oversold region (below the 0.30 reading).<\/p>\n

This signal typically indicates that selling pressure is weakening. In DOGE\u2019s case, this crossover at low levels has preceded strong price recoveries, notably a 400% price rally in 2024 and 88% gains in 2023.<\/p>\n

Related: <\/strong><\/em>Crypto market is seeing a \u2018tactical retreat, not a reversal\u2019 \u2014 Binance CEO<\/strong><\/em><\/a><\/p>\n

The first major resistance level lies near $0.22, aligning with DOGE\u2019s 50-week exponential moving average (50-week EMA; the red wave) and the March-April 2024 resistance area, as shown below.<\/p>\n

\"Dogecoin
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DOGE\/USD weekly price chart. Source: TradingView<\/em><\/p>\n<\/figcaption><\/figure>\n

However, if DOGE fails to hold the support confluence, the bullish setup could be invalidated, leading to a deeper correction toward $0.12, which served as support in the March-May 2024 period.<\/p>\n

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.<\/p>\n