Early signs of recovery for Dogecoin despite 49% price decline

Dogecoin’s price has plummeted by 49%, yet signs of recovery are surfacing. Whales are accumulating DOGE, suggesting bullish interest. The positive Hodler Net Position Change metric indicates renewed buying from long-term investors.

Despite these recovery signs, supply pressure from holders at a loss could hinder price growth. A cup and handle pattern suggests potential price rallies, but weak speculative participation is reflected in declining Open Interest in derivatives.