DOGE rallied 95% in a week, but analysts signal that the bull run is only starting.
Dogecoin (DOGE) has been at the heart of the memecoin frenzy for over a decade, and it continues to post wild gains, such as the 95% increase in the past 7 days alone. However, the rally has been accompanied by a record-high $1.4 billion futures open interest in Dogecoin, triggering speculation of excessive optimism among investors.
Some analysts argue that there is no altcoin season without a DOGE pump, and there is some truth to that, given its track record and $24 billion market cap, making it a top-10 cryptocurrency.
Technical analysts argue that Dogecoin is repeating "past bull markets" of explosive gains after 22 months of consolidation. One such example includes a post from user ali_charts on X social network.
