Here’s why Dogecoin’s 30% weekly gain signals parabolic rally ahead

Key Points

1. Dogecoin (DOGE) has gained 30.37% weekly and 8.98% in the past day, signaling strong upward momentum.

2. The Mining Equilibrium Index suggests an imminent rally, as DOGE is not in an overheated phase, leaving room for further gains.

3. No signs of capitulation are present, with DOGE's extreme drawdown from its all-time high indicating a potential rebound.

4. Whales have acquired 230 million DOGE, tightening supply and increasing the likelihood of a supply squeeze and upward price movement.