Dogecoin Soars in Weekly Price Surge

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DOGE, is among the best performers in the weekly price increase as the crypto market gains momentum again. The first meme coin project in the crypto sector, Dogecoin (DOGE), made a significant comeback by surpassing the $0.22 level last week, a price not seen since November 2021.

DOGE Impresses with Strong Performance

CoinGecko data shows DOGE’s price increased by 22.3% weekly, and its trading volume jumped over 50%, reaching $3.17 billion, drawing attention. DOGE is currently trading at $0.20. During this period, Dogecoin‘s market value exceeded $30 billion, staying well above Cardano’s (ADA) and making it the 8th largest cryptocurrency.

Popular analyst Ali Martinez stated on social media platform X that DOGE is overshadowed by most of the new participants in the meme coin market, but it continues to be one of the most significant altcoin projects in the sector, and he said:

“Technically, DOGE seems to reflect the 2018-2021 model. If so, we could be at the beginning of a major parabolic bull run.”

Striking Predictions for DOGE

DOGE, continues to be one of the most notable meme coin projects following its performance increase last week. In just the last 24 hours, over $5 million in DOGE short positions were liquidated in the futures market. Moreover, data from IntotheBlock shows that about 90% of DOGE holders are in profit.

Many analysts are bullish on DOGE’s price and are making predictions for new short and long-term price targets. Similar to Ali’s bullish forecast, Altcoin Sherpa predicts a threefold increase for DOGE in the next six months.

Furthermore, market data analysis platform Santiment suggests that DOGE is showing bullish signals following its performance last week. It appears that DOGE could make a comeback with the reawakening of dormant whales and reintroduction of DOGE into circulation. Additionally, any move from Elon Musk during this period could also trigger a rise in DOGE’s price.

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