Key indicators for Dogecoin (DOGE) indicate that a turnaround may be on the horizon, highlighted by significant growth in transactions exceeding $10 million. This surge in high-value transactions indicates strong interest from whales who are positioning themselves ahead of expected price changes.

Dogecoin saw a significant decline last month, losing approximately 25% of its value, and has seen a more notable 33% drop in the past 90 days. However, amid these setbacks, analysts point to the market value to realized value (MVRV) ratio as a critical indicator suggesting a potential reversal in the bullish trend. The MVRV ratio recently dropped to about 15% over the last 30 days. Such a low ratio historically indicates that Dogecoin is undervalued, which often precedes significant price surges.