Dogecoin Dip Buying Fuels Potential 30% Rally

Following a more than 70% price crash from its December 2024 high, Dogecoin (DOGE) is drawing attention as its largest holders accumulate during the dip. Onchain metrics by Santiment indicate a 1.24% increase in wallets holding over 1 million DOGE, while active addresses soar to a four-month high, suggesting heightened network engagement. Technical indicators, including a bullish Stochastic RSI crossover in oversold territory and a confluence of support at the 200-week EMA, point towards a possible 30% rebound if resistance near $0.22 is overcome. Historical data from previous rallies, such as a 400% surge in 2024 and 88% gains in 2023, further reinforce the bullish outlook. Nonetheless, failure to maintain support levels could trigger a deeper correction towards $0.12, underscoring an inherent risk factor.