Bitcoin is still repeatedly testing the bottom support, but Dogecoin has already broken the deadlock—less than two weeks into the new year, this longstanding community coin has surged 30%, completely breaking free from a consolidation period that lasted over a month.

Staring at the steep upward trend line on the chart, the community's voice is growing louder: aiming for $1.00. Analysts are even predicting a 401% increase, prompting many traders to become eager.

But the question is—is this rally truly a capital game, or a genuine trend reversal?

**A True Reflection of Capital Flows**

Data doesn't lie. As of mid-January, DOGE has stabilized around $0.14-$0.15, up 30% from the lows at the end of December, hitting a high not seen in nearly two months.

More importantly, the flow of funds tells the story. Spot ETF funds increased by $3.9 million this year, with single-day net inflows exceeding $2.3 million at times, bringing the total to over $10.6 million. Open interest in the futures market doubled from $1 billion in December to $2 billion, a clear sign—market demand is genuinely growing.

**Technical Signs Already Indicate Something**

The signals on the candlestick chart are even more interesting. DOGE completed a classic falling wedge breakout before the rally, and during the price correction, the Percentage Price Oscillator and Relative Strength Index formed clear bullish divergences—double confirmation that the rebound momentum is real and effective.

The current price has successfully broken above key short-term moving averages. The next focus is whether it can break through the psychological barrier at $0.20.