The digital asset market is preparing for what should be a vital month in terms of overall value increase. Amid the meme coin mania that filled the market last month, the original asset is poised to grow. Indeed, Dogecoin (DOGE) is expected to continue its gains into April as it prepares for a “parabolic” rally.
The asset has increased more than 52% in March, according to CoinMarketCap. Although the first day of the new month has brought a bit of a price correction, there is optimism about how it could perform. Specifically, one crypto analyst has identified a historical analysis that could lead to massive increases in price.
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Dogecoin (DOGE) To Continue March Gains as it Prepares for a Surge
The digital asset market is preparing for a massive month. The Bitcoin Halving event is set to take place and should have a massive effect on the overall industry. In March, Bitcoin led impressive gains with its ascension to a landmark $73,000. Subsequently, the impact on its circulating supply should similarly impact the industry as a whole.
One of the most positively affected groups has been meme coins, who surged throughout March. However, the newcomers who faced a meteoric rise may not have the overwhelming upside associated with the original. Specifically, Dogecoin (DOGE) is expected to continue its gains into April as it prepares for what could be a “parabolic” rally.
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Crytpo analyst Ali Martinez took to X (formerly Twitter) to discuss the asset’s immense potential. Indeed, he noted many traders have been “distracted” by the rise of meme coin competitors. However, he states the DOGE “remains the most important t[altcoin] in the sector.”
Furthermore, Matinez highlighted the potential in the asset growth trajectory. “From a technical perspective, [DOGE] seems to mirror the 2018-2021 pattern,” he said. “If so, [DOGE} could be at the very beginning of a massive parabolic bull run.”
According to Martinez, the data shows the potential for Dogecoin to mirror the massive bull run it faced three years ago. Specifically, 2021 saw the asset reach its all-time high of $0.74. With the technical data and the context of the Bitcoin Halving, it could be set to face a similarly impressive run.
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