According to CryptoPotato, the recent surge in Dogecoin network activity has seen its price action show striking similarities to its historical performance in 2020. As before, DOGE has broken out of a descending triangle pattern and is now in a consolidation phase, which is reminiscent of its previous trajectory. In 2020, this pattern was preceded by a staggering 28,770% gain. Crypto analyst Ali Martinez suggests that history may repeat itself, suggesting that Dogecoin may once again usher in a major bull run in the near future. Despite maintaining steady growth amid the broader market rally, Dogecoin has been squeezed out by the top 10 cryptocurrencies by market capitalization. However, a growth trajectory similar to the 2020 cycle suggests that this original meme coin has the potential to reach a new peak. However, given the supply constraints of the asset, this trend may be too ambitious. Notably, on January 29, Dogecoin witnessed a massive network surge, with 247,240 new DOGE addresses created. Italian sports car manufacturer Ferrari recently accepted cryptocurrencies in its business, announcing the addition of Dogecoin to existing payment options such as Bitcoin, Ethereum, and USDC in the United States. Dogecoin also provides payment channels for famous brands such as watch manufacturer Tag Heuer and fashion brand Gucci. In addition, American cinema chain AMC Theatres also uses Dogecoin as a payment alternative for ticket purchases. Recently, SpaceX said it would accept this meme coin as a payment method for rescheduling the highly anticipated DOGE-1 moon mission.