• Dogecoin shows multiple bullish signals, notably with the RSI on the 4-hour chart.
• DOGE’s activity has been steady, with daily active addresses and whale movements at key levels.

Dogecoin’s [DOGE] chart revealed critical bullish signals through its 4-hour Relative Strength Index (RSI) and price channels.

The RSI, deeply entrenched in the oversold territory with a reading near 48 at press time, suggested a potential turnaround for Dogecoin’s price.

This was reinforced by the RSI’s upward-trending channel, indicating a strengthening momentum despite the downtrend in DOGE’s price channel.

Furthermore, DOGE showed a bullish divergence as it retested the top of its broken channel, near $0.255 at the time of writing.

This retest represented a critical moment—either confirming a bullish reversal or failing, which could resume the downtrend.

If the ‘king of memecoins’ sustains above the channel top, it could ignite a rally towards the next resistance at $0.27. If the price breaks above $0.27, DOGE could return to $0.5 level and potentially $1 before mid-year.

Conversely, a failure to hold above the retested level could see DOGE slide back to support around $0.24, reiterating the volatility and speculative nature of the memecoin.

Each move, whether a break or a bounce, will be pivotal in determining DOGE’s trajectory in the coming days.

Dogecoin’s on-chain activity stabilizes

DOGE’s activity chart reflected a steady engagement level with its network despite the price fluctuations.

The number of daily active addresses consistently aligned with significant transaction volumes and whale transactions, suggesting a solid foundational interest in DOGE.

In December, daily active addresses peaked concurrently with a surge in transaction volume, indicating heightened activity that temporarily supported a pric

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Author: Lennox Gitonga