DOGE’s extremely oversold conditions hint at price reversals akin to its 400% price boom in 2024.
Dogecoin (DOGE) price has crashed by over 70% after hitting $0.48 in December 2024. Interestingly, the memecoin’s richest holders have accumulated during the price declines, indicating their confidence in a potential rebound in the coming weeks.
Onchain data from Santiment shows 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.
Dogecoin addresses holding at least a million DOGE vs. price. Source: Santiment
