Recently, a well-established token in the encryption market, DOGE, has attracted widespread attention from investors. Over the past few days, the price of DOGE has risen by about 7%, making it the second highest gainer among large cap tokens, only behind WLD. This performance has led many supporters of DOGE to speculate whether DOGE is about to usher in a new bullish trend.

Some analysts reviewed DOGE's performance over the past year and noted that in the three months starting from September 2022, DOGE experienced a significant surge, with prices increasing nearly fivefold. Based on this historical pattern, they speculate that DOGE may be brewing a new major upward trend. However, it is worth noting that last year's surge had special market conditions and hype factors, whereas the current market conditions are different.

Recently, several pieces of news that could influence the price of DOGE have attracted the market's attention. First, reports indicate that a large holding address (commonly known as a "whale") withdrew over 10 million DOGE from the Binance exchange, valued at approximately $2.25 million. Such large-scale fund movements often trigger market speculation.

Secondly, there are market rumors that there may be ETF products related to DOGE launching this week, which could attract more institutional investors' attention to DOGE. In addition, a company named Thumbzup announced plans to purchase DOGE, which is also seen as a potential positive news.

Although these factors have brought some optimism for DOGE, investors still need to be cautious. The high volatility of the cryptocurrency market means that any predictions carry uncertainty. Whether DOGE can truly "take off" still requires more market factors and time to verify. Investors should comprehensively consider market risks when making decisions and not blindly follow trends.