Dogecoin (DOGE) bulls are recording massive purchases amid sideways trading, signaling an uptrend in the coming months. The asset’s on-chain factors are flipping green alongside top crypto on the back of institutional demand and Elon Musk’s influence. This scenario is similar to the 2021 bull run, which saw the asset soar to an all-time high.

Data from crypto analytics from Messari shows that wallets with 1 million DOGE have amassed over 130 billion tokens. This all-time high acquisition indica...