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The Rise of Dogecoin: Can the Meme Coin Recover?
The entire meme coin market, including its leader, has been severely impacted by the ongoing broader crash, resulting in a market capitalization decline of over $1 trillion. Dogecoin, in particular, has been hard hit, with its price plummeting from a high of $0.5 in early December to a low of $0.14 on March 11. Although it has recently rebounded to around $0.17, the price has still lost 60% since its January peak and over 65% since its December high.
Despite this substantial decline, many industry observers believe that DOGE is poised for a rebound and have identified several factors that could contribute to its recovery.
Whales Return and TD Seq
Dogecoin whales have been active during the bull run in November and December, but they began to offload their assets after the subsequent peak. However, they have recently returned to the scene with multiple large purchases. Ali Martinez highlighted the latest one.
Whale alert! Over 110 million #Dogecoin $DOGE bought up in a week. Big players are betting on a breakout. pic.twitter.com/ppHy76w9u8
— Ali (@ali_charts) March 18, 2025
Although this amount is far from the massive accumulations registered a few months ago, it’s still a positive sign that could influence DOGE’s price recovery as it reduces the immediate selling pressure.
The popular analyst also brought up the TD Sequential metric, which shows whether a certain asset has exhausted its move in either direction. In regard to DOGE, he noted that the meme coin is "primed for a bounce" as the 3-Day TD Sequential has flashed a buy signal.
#Dogecoin $DOGE is primed for a bounce! TD Sequential flashes a buy on the 3-day chart.
Join me in this trade by signing up to @coinexcom using my referral link https://t.co/73n8mW9Y5p pic.twitter.com/KFaqpcyIl8
— Ali (@ali_charts) March 18, 2025
Network Activity and Big Wallets
CryptoPotato reported yesterday that Dogecoin’s active addresses had grown to a four-month high of over 150,000. This was in stark contrast to the numbers registered just a few weeks ago, when the number struggled to remain above 100,000. Typically, more activity on a certain network results in better price performance and vice versa.
The network activity on Dogecoin has increased even further since our report and is now up to 280,000 active addresses in recent days.
#Dogecoin $DOGE network buzzing! Over 280,000 active addresses in recent days. pic.twitter.com/i5n92BLAx3
— Ali (@ali_charts) March 19, 2025
The fourth and last signal in today’s article comes from yesterday’s report, which noted that big DOGE wallets, those that own at least a million of the meme coin, had grown by over 1.2% since the start of February. More precisely, this means the addition of 62 new such entities.
Conclusion
In conclusion, despite the significant decline in DOGE’s price, several factors suggest that the meme coin is poised for a rebound. The return of whales, the TD Sequential buy signal, and the increased network activity could all contribute to a price recovery. As the market continues to evolve, it will be essential to monitor these factors and others to gain a better understanding of DOGE’s potential trajectory.
FAQs
Q: What is the current price of DOGE?
A: The current price of DOGE is around $0.17.
Q: How much has DOGE’s price declined since its January peak?
A: DOGE’s price has lost 60% since its January peak.
Q: What is the current market capitalization of the meme coin market?
A: The current market capitalization of the meme coin market is over $1 trillion.
Q: What is the purpose of the TD Sequential metric?
A: The TD Sequential metric shows whether a certain asset has exhausted its move in either direction.
