## Introduction
In the world of cryptocurrency, Dogecoin (DOGE) has been making headlines recently for its remarkable performance. Analysts are optimistic about a potential bull run for Dogecoin, as indicated by key technical indicators. Let’s delve into the details of why the Dogecoin bull run may have just begun.
### Dogecoin’s Impressive Performance
At the time of writing, the broader crypto market has shown a bullish trend, spurred by Bitcoin’s notable surge in prices post the 2024 U.S. presidential election. This momentum has had a ripple effect on various altcoins and meme coins, with Dogecoin being a standout performer.
#### Outperforming Bitcoin
Since the beginning of the year, Dogecoin has outshined Bitcoin in terms of price appreciation. While BTC prices have seen a rise of 119.62% since January, DOGE prices have surged by a significant 355.51%.
#### Positive Catalysts for Dogecoin
Besides riding the coattails of Bitcoin’s bullish momentum, Dogecoin has been further bolstered by favorable sentiments towards cryptocurrencies within the upcoming administration. The recent announcement regarding the establishment of a Department of Government Efficiency, led by key figures such as Elon Musk and Vivek Ramaswamy, has fueled the ongoing bull run in DOGE.
## DOGE’s Price Momentum Oscillator Points to Bullish Continuation
### Understanding the Price Momentum Oscillator
The Price Momentum Oscillator (PMO) is a technical analysis tool that assesses the rate of change in an asset’s price by smoothing it with exponential moving averages. This aids in providing insights into the underlying price action with reduced volatility.
#### Indication of Upward Potential
Presently, the PMO for Dogecoin, as highlighted by a technical analyst known as Trader Tardigrade, indicates that while the coin has experienced parabolic surges in the past, there seems to be room for further growth. Despite the current low levels of the PMO on a weekly basis, the indicator suggests a bullish trajectory for Dogecoin going forward.
### Potential for a Parabolic Growth Channel
Analysts foresee a compelling case for Dogecoin to continue its upward trajectory, especially given the coin’s positioning within a parabolic growth channel. This channel potentially sets a longer-term price target for DOGE at $3.50, signaling a lucrative opportunity for investors.
## Conclusion
As sentiment remains positive and technical indicators suggest a bullish outlook, Dogecoin appears to be gearing up for a sustained bull run. With the potential for alt season to kick in and attract substantial capital inflows, Dogecoin could be on track to extend its rally further in the evolving cryptocurrency landscape.
The original article titled [“Dogecoin bull run has ‘just started,’ according to analyst”](https://finbold.com/dogecoin-bull-run-has-just-started-according-to-analyst) provides an insightful overview of the factors contributing to Dogecoin’s current uptrend, offering valuable perspectives for cryptocurrency enthusiasts and investors alike.