This paper presents a study of bifurcation in the time-averaged dynamics of TaO memristors driven by narrow pulses of alternating polarities. The analysis, based on a physics-inspired model, focuses on the stable fixed points and on how these are affected by the pulse parameters. Our main finding is the identification of a driving regime when two stable fixed points exist simultaneously. To the best of our knowledge, such bistability is identified in a single memristor for the first time. This result can be readily tested experimentally, and is expected to be useful in future memristor circuit designs.