The original dog-themed memecoin is showing signs of a bullish reversal, says leading crypto analytics platform Santiment.

According to Santiment, Dogecoin (DOGE) is “signaling a potential turning point once crypto markets stabilize” as the number of wallets increases.

“Dogecoin, like most meme coins, has been hammered during the two-month crypto-wide retrace. However, we recommend keeping an eye on the rising level of wallets holding at least one million DOGE, which has recovered during the price dump. Active addresses are also at four-month highs.”

Santiment says that the number of Dogecoin wallets holding over one million DOGE has surged by over 1% since the start of February. In March, the largest memecoin by market cap has also recorded spikes in address activity, with the number rising to more than 150,000 active addresses per day severally.

Dogecoin is trading at $0.166 at time of writing, down by about 62% from the 2025 high of around $0.434.

Turning to development activity among the leading crypto projects, Santiment says there has been a decline in the number of contributors over the past month.

“And if we switch the perspective and zoom in to just the past one month, it’s a bit discouraging to see that every ecosystem in the top 10 has taken their foot off of the gas. Development activity events have declined across the board, with only Cosmos and Solana seeing a rise in contributors.”

Over the past six months, Santiment says the only ecosystem that has recorded a rise in the number of contributors is the layer-2 scaling solution Optimism (OP).

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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The Japanese hotel and investment firm Metaplanet has issued fresh bonds and accumulated an additional 150 Bitcoin (BTC).

The new Bitcoin acquisition brings the investment firm’s total holdings to 3,200 BTC.

With Bitcoin trading at $81,383 at time of writing, that means Metaplanet currently owns more than $260.4 million worth of the top crypto asset.

To buy the new BTC, the firm’s board of directors approved a new series of bonds to raise 2 billion yen. The bonds have a scheduled maturity date of September 17th.

Metaplanet chief executive Simon Gerovich notes the new purchase puts the firm in the top 10 publicly listed Bitcoin holders globally.

“We are now officially the largest publicly listed Bitcoin holder in Asia — a major milestone as we continue executing our Bitcoin strategy with conviction.”

Metaplanet’s stock has been down 33.17% in the past month but has been up a staggering 1,915% in the past year, per data from MarketWatch.

The Japanese firm has bought its 2,300 Bitcoin at an average price of $83,107 per BTC. The company aims to acquire 10,000 Bitcoin by the end of 2025 and 21,000 BTC by the end of 2026.

Metaplanet also continues to operate a Tokyo hotel, which it plans to renovate and rebrand into “the Bitcoin Hotel.”

BTC is down nearly 3% in the past 24 hours.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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A closely followed crypto analyst says that Bitcoin (BTC) may suddenly turn bullish based on one key indicator.

In a new post, crypto trader Rekt Capital tells his 542,500 followers on the social media platform X that the Relative Strength Index (RSI) – a momentum indicator used to indicate overbought or oversold levels – may soon break out of a downtrend, signaling bullishness for Bitcoin.

“Going forward, it will be worth watching this daily RSI downtrend for a breakout in the future. This downtrend has been a resistance on the RSI since November 2024. An RSI downtrend break would likely precede a trend reversal to the upside in price.”

In a strategy session, the analyst tells his 107,000 YouTube subscribers that the RSI has bounced off the oversold level in the 20s range, which historically has led to a price reversal for Bitcoin.

“We’ve dropped into a zone of overselling, so below the 30 RSI, that’s typically where we see sellers get a little bit too enthusiastic. People are selling too much, and the sellers are slowly getting exhausted. They are overselling, which means that it’s easier for buyers to step into the market and start buying up prices, and they don’t even need to buy up on high volume.

And it’s already pressing prices up quite nicely towards the upside without much effort. And that’s exactly what happens when sellers are exhausted. And we’ve seen these oversold regions on quite a few occasions across this cycle. And each time we got here on that first crash, we were very close to a bottom, or we were at a bottom already, and we’d see price reverse towards the upside.”

The analyst also says that Bitcoin’s retracement from the all-time high is not out of the ordinary based on historical precedence.

“This current pullback (-29%) is one of the deeper retraces in the cycle but it’s not extraordinary. After all, we’ve seen a deeper retrace in the immediate post-halving period (-32%). Not only that, but we’ve seen deeper pullbacks in previous cycles.

Major 2021 corrections: -31%, -55%, -25%.

Major 2017 corrections: -34%, -34%, -38%, -40%, -29%.”

Bitcoin is trading for $83,112 at time of writing, flat on the day.

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