Although Dogecoin (DOGE) has dropped 15% in price over the past week, it has shown the possibility of a recovery as non-empty wallets have increased, hinting at increased demand, CryptoPotato reports. Shiba Inu (SHIB) and Bonk Inu (BONK) are also showing signs of recovery; SHIB through network upgrades and token burns, and BONK through significant price growth, making it one of the top five meme coins. The meme coin space has been hit hard recently, with a market cap well below $50 billion. The largest asset among them - Dogecoin (DOGE) - is stuck in a sea of ​​red, with prices down 5% in 24 hours and 15% in a week. However, the trend may change in May, bringing fresh gains for this dog-themed coin. One factor that hints at this is that the number of non-empty DOGE wallets is increasing. According to CryptoPotato, these addresses have exceeded 54 million, an increase of 13.8% in the past three months. Growth in this indicator signals that demand is growing. Basic economic principles suggest that prices are likely to rise as a result of this situation (assuming supply remains constant). Analysts Ali, JAVON MARKS and Mikybull Crypto predict that DOGE will have a substantial bull run in the short term. Ali claims that if the asset’s value can replicate its performance a few years ago, its value could reach the $1 milestone.