Dogecoin has seen a significant price drop of over 70% from its December 2024 peak of 0.48 USD to 0.1665 USD. During this decline, wealthy holders are buying, indicating a confidence in future price recovery.

On-chain metrics reveal an increase in addresses holding at least 1 million DOGE. With bullish indicators pointing to an oversold situation, there is a possibility of a rally by 30% as the cryptocurrency tests key support levels.