• Dogecoin’s large transactions spiked into the weekend. 
• Other key metrics remained bearish, and this could keep DOGE’s price range-bound

According to IntoTheBlock’s data, Dogecoin [DOGE] whale transactions soared by 41% over the last 24 hours. In most cases, positive large transactions imply an accumulation trend. This could, in turn, trigger a price reversal on the charts.

Additionally, the blockchain analytics firm revealed that active daily addresses jumped by 34%.

Taken together, these findings hinted at the market interest and traction associated with the memecoin. Hence, AMBCrypto checked the overall DOGE market sentiment to confirm a potential bullish reversal. 

DOGE’s mixed signals

According to Santiment, the social volume rose between 13 and 21 January. Afterwards, it retreated into the weekend, indicating a slight decline in memecoin traction across all socials.