DOGE has been beaten down and shorted very hard over the last year or so. Ever since topping in May, DOGE has been going down and losing a lot of value.
With DOGE being shorted so badly, there's much opportunity for a potential bullish rally. Shorters will either close their shorts or get liquidated, which are both bullish occurrences.
The bearish dotted trend line has been holding, but is now being invalidated by a big green candle. If bulls can hold this rally we might be targeting past local tops in the coming weeks.