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.
Dogecoin onchain metrics hint at price rebound
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
Typically, when large holders accumulate an asset while prices decline, it signals that they see undervaluation and are positioning for a future rebound.
An increase in active addresses indicates hi ..
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