1) The retracement of Dogecoin was in part largely impacted by BTC fluctuations. If you have been paying attention at all to the most recent price action of the Altcoin market, in general most coins have retraced considerably in the ensuing bloodbath.
2) While purely speculative, February 14th, marks the beginning of the year of the Dog. If there is any moment in time for Dogecoin to make a run to break its current ATH , the time is now.
3) Confirmation of work alongside Etherium to solve scalability issues. While it is difficult to know exactly how this will play out in the long term, this gives insight to the usability of this coin.
4)Personal pure speculation. If you had been watching the most recent price action of coins such as XLM and XRP, they recently surged in price and due to rumors that they may be added onto coinbase, until the CEO of coinbase shut down such rumors. While we do not know which coins will be added in the future, I dont mind taking a small risk on a coin that has potential as a candidate. Dogecoin has the cheapest(percentage) fee involving transfers of digital currency across exchanges. Thinking into the mind of a multimillion dollar exchange such as coinbase, there is plenty of upside for coinbase adding such a coin in the near future.
I do not make these statements as truth, but rather a personal opinion on the future potential of the market.
As a short term target, look for a breakout near 93 satoshi flying towards the 1.6 fib extension of 174