Dogecoin millionaires are strategically buying dips as the cryptocurrency's price looks to recover from a steep decline, having dropped over 70% since reaching $0.48 in December 2024. The richest holders are accumulating DOGE during these price declines, indicating their confidence in a potential rebound. Onchain metrics show that wallets holding at least 1 million DOGE have increased by 1.24% since early February, despite falling prices, while active addresses have surged to a four-month high, indicating escalating network activity. This rise in user engagement could signify increased retail interest, potentially laying a foundation for price recovery. DOGE is currently testing significant support levels, including a long-term ascending trendline and the 200-week EMA, both around $0.13. With the Stochastic RSI showing bullish momentum in the oversold region, there are indicators suggesting DOGE could achieve a 30% rally if it maintains support. However, if these support levels fail, the price could see further corrections towards $0.12.

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