Dogecoin (DOGE) has been stuck in a trading range for the past few weeks, lacking the catalyst needed to break free amid a sluggish crypto market.
However, today, October 23, marked a possible turning point as cryptocurrencies surged, led by Bitcoin’s (BTC) impressive gains, reaching over $30,600.
In this renewed optimism, DOGE is the standout performer among the top 10 cryptocurrencies by market cap, surging 4.9% to $0.063 in the last 24 hours leading the 24-hour daily gains.
DOGE’s 24-hour performance compared to other top 10 crypto assets. Source: CoinMarketCap
Intriguingly, this might not be only a short-term boost for DOGE but rather the inception of a potential bull run, as suggested by an analyst.
Traders and analysts bullish on DOGE
In an October 23 analysis, cryptocurrency trader and analyst Naemrr said that Dogecoin may be “witnessing the start” of a bull trend.
The reason for this is the bullish divergence on a 3-day timeframe on the DOGE/BTC chart and a “poten
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