Dogecoin (DOGE) fell by 18% from its recent high. However, data from Santiment, a blockchain analytics firm, indicates that the meme coin’s bullish trend is likely to continue. A seven-month high in network activity and a four-month high in whale transactions are positive signals.
This on-chain data points to potential price recovery and growth, driven by strong retail investor interest. Increased activity and significant transactions by large holders bolster the outlook.
Despite the recent dip, these indicators suggest potential for further price rise, according to analysis.
