Is the Parabolic DOGE bull in the works?

Dogecoin (DOGE), the first meme coin in the crypto industry, made a big comeback last week when it crossed the $0.22 mark – a price not seen since November 2021.

According to CoinGecko data, the value of DOGE increased by 22.3% every week, and the trading volume increased by more than 50% to 3.17 billion. DOGE is currently trading at $0.20.

Its market capitalization has exceeded $30 billion and is well ahead of Cardano (ADA), making it the 8th largest cryptocurrency.

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Is DOGE Set For Another 2020 – 2021 Rally?

Popular analyst Ali Martinez (Ali_Charts on X) says DOGE has been overtaken by most new entrants in the meme coin market, but remains “the most important altcoin” in this sector.

“From a technical point of view, the DOGE appears to be mirroring the 2018-2021 pattern. If so, it could be at the start of a major parabolic bull run.”

Will DOGE come back soon?

DOGE is one of the most popular meme coins following its brilliant performance last week.

Over $5 million worth of doge shorts have been snapped up in the last 24 hours alone. In addition, data from IntotheBlock shows that nearly 90% of DOGE holders are in profit.

Most analysts are predicting new short- and long-term prices, picking DOGE's backup. Similar to Ali's bullishness, Altcoin Sherpa predicts a 3X jump for DOGE in the next six months.

Additionally, market intelligence platform Santiment pointed out that DOGE is giving positive signals after last week's performance. It looks like DOGE may be making a comeback as dormant whales reawaken and move DOGE into circulation.