The entire meme coin market, including its leader, was annihilated in the past few months due to the ongoing broader crash, which pushed the market capitalization south by over $1 trillion.

Recall that Dogecoin stood close to $0.5 in early December, then peaked above $0.42 in mid-January but slumped to $0.14 on March 11. Even though it now trades close to $0.17, it still means that its price has lost 60% since the January peak and over 65% since the high in December.

Following such a substantial crash, though, many industry observers believe DOGE is primed for a rebound and have outlined several factors that could help the asset recover.

Whales Return and TD Seq

Dogecoin whales have been particularly active during the bull run in November and December but started to dispose of their assets after the subsequent peak. Now, though, they have returned to the scene with multiple large purchases and Ali Martinez highlighted the latest one.

Whale alert! Over 110 million #Dogecoin $DOGE bought up in a week. Big players are betting on a breakout. pic.twitter.com/ppHy76w9u8

Although this amount is far from the massive accumulations registered a few months ago, its still a positive sign that could influence DOGEs price recovery as it reduces the immediate selling pressure.

The popular analyst also brought up the TD Sequential metric, which shows whether a certain asset has exhausted its move in either direction. In regard to DOGE, he noted that the meme coin is primed for a bounce as the 3-Day TD Sequential has flashed a buy signal.

#Dogecoin $DOGE is primed for a bounce! TD Sequential flashes a buy on the 3-day chart.

Join me in this trade by signing up to @coinexcom using my referral link https://t.co/73n8mW9Y5p pic.twitter.com/KFaqpcyIl8

Network Activity and Big Wallets

CryptoPotato reported yesterday that Dogecoins active addresses had grown to a four-month high of over 150,000. That was in stark contrast with the numbers registered just a few weeks ago when the number struggled to remain above 100,000. Typically, more activity on a certain network results in better price performance and vice versa.

The network activity on Dogecoin has increased even further since our report and is up to 280,000 such addresses in recent days.

#Dogecoin $DOGE network buzzing! Over 280,000 active addresses in recent days. pic.twitter.com/i5n92BLAx3

The fourth and last signal in todays article comes from yesterdays. In it, we reported that big DOGE wallets, those that own at least a million of the meme coin, had grown by over 1.2% since the start of February. More precisely, this means the addition of 62 new such entities.