Dogecoin, the popular meme-inspired cryptocurrency, has been making headlines recently with its meteoric rise in value. However, in the past 24 hours, DOGE price has seen a 5% dip. While this may cause some concern among investors, there are several technical and onchain metrics that suggest Dogecoin could soon reach new all-time highs.

Firstly, let’s take a look at the technical indicators. Despite the recent drop, DOGE is still trading above its 50-day and 200-day moving averages, indicating a bullish trend. In addition, the Relative Strength Index (RSI) is currently at a healthy level, suggesting that there is still room for growth.

On the onchain side, the number of active addresses and daily transactions for Dogecoin has been steadily increasing. This indicates a growing interest and adoption of the cryptocurrency, which could potentially drive up its value in the long run.

Moreover, the recent announcement of Tesla accepting Bitcoin as a form of payment has sparked speculation that other cryptocurrencies, including Dogecoin, could also be accepted in the future. This could further boost the demand for DOGE and potentially push its price to new heights.

It’s also worth noting that Dogecoin has a strong and dedicated community behind it. This community has been actively promoting and supporting the cryptocurrency, which has played a significant role in its recent surge. With such a passionate and engaged community, it’s likely that DOGE will continue to see growth and success in the future.

In conclusion, while DOGE price may have taken a slight dip, the overall outlook for Dogecoin remains positive. With promising technical and onchain metrics, as well as a strong community and potential for wider adoption, it’s possible that Dogecoin could soon reach new all-time highs. As always, it’s important to do your own research and invest wisely. But for those holding onto their DOGE, the future looks bright.