Dogecoin (DOGE) is showing signs of potential recovery, with multiple bullish signals on its 4-hour chart. The Relative Strength Index (RSI) is trending upward, indicating strengthening momentum, and the price is retesting the top of its broken channel.

Additionally, DOGE's on-chain activity is stabilizing, with steady engagement levels and significant transaction volumes. Whale transactions and daily active addresses are also showing occasional spikes, hinting at potential key market movements.

If DOGE sustains above the channel top, it could ignite a rally towards $0.27 and potentially $1 before mid-year. However, a failure to hold above the retested level could see DOGE slide back to support around $0.24.

Key Takeaways:

- Dogecoin's 4-hour RSI is trending upward, indicating strengthening momentum.
- DOGE is retesting the top of its broken channel, with a potential breakout above $0.255.
- On-chain activity is stabilizing, with steady engagement levels and significant transaction volumes.