Following a sharp 66% crash that wiped out over $365 million in long positions, Dogecoin (DOGE) price has been steadily rising. Analysis of onchain data suggests this volatile period might be setting the stage for a new bullish phase. 2024 marked a significant peak for DOGE’s price. Recent accumulation of short-term holders, despite the crash, indicates confidence in the coin’s long-term prospects. Metrics like MVRV Z-score and Hodl Waves show a market still in its early expansion phase, suggesting further potential growth. This period of uncertainty could be fueling new investments as it resembles the conditions before past Dogecoin rallies, setting the stage for another bull run.