The DOGE/BTC ratio remains in a bear market, despite Dogecoin's 24% weekly gain, which surpassed other major cryptocurrencies including Bitcoin. This ratio, reflecting DOGE's valuation in Bitcoin terms, has been in a downtrend since May 2021. Although recent gains are noteworthy, analysts suggest it is premature to consider a speculative bubble akin to early 2021, when Dogecoin significantly outperformed Bitcoin. The current price structure mirrors that of late 2020, indicating potential recovery. The DOGE/BTC chart shows a bounce over 10%, suggesting a bullish momentum shift, though it must surpass a key trendline to confirm the end of the bear phase. Influencing this price action is Dogecoin's recent surge, sparked by speculation surrounding Elon Musk's proposal of a government agency called D.O.G.E., linked to cryptocurrency trials. As of now, while there are indicators of an improving trend, the broader perception of Dogecoin as speculative continues to cast doubt on sustained price increases.

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