The digital asset market has seen a host of tokens in the green to start Wednesday. Yet, as March comes to a close, all eyes are on how these assets are situating themselves for the upcoming Bitcoin Halving event. According to one crypto analyst, Dogecoin (DOGE) is showing a historical trend that hints at a $1 price pre-halving.
The Halving event is currently slated to take place on April 20th. Moreover, its importance could see a plethora of digital assets surge in price. Following DOGE’s increase of more than 115% throughout March alone, according to CoinGecko, it may well be preparing for a rally that mirrors its legendary 2021 increase.
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Dogecoin Eyeing $1 Amid Bitcoin Halving Event?
2024 has been one of the most important years for the digital asset market. The positive sentiment has been driven by Bitcoin, with the asset reaching an all-time high of $73,000 on the back of Spot Bitcoin ETF approvals granted in January.
Yet, its ascension has paved the way for other assets to perform well. Moreover, the rising tide of BTC could impact the original meme coin. Specifically, Dogecoin (DOGE) could be preparing to surge to $1 pre-halving, as the event is scheduled for April.
Also Read: Dogecoin Overtakes Cardano As 9th Largest Cryptocurrency
Noted crypto analyst Ali Martinez took to X (formerly Twitter) to discuss the meme coin mainstay. Specifically, he noted a historical trend that could propel the asset. In the post, Martinez notes, “If history is any guide,” DOGE is targeting $1 by the middle of April.
This prediction aligns with a similar sentiment shared by cryptoanalyst Cryptollica. They posted to X to share four price charts that signal bullish movement for the cryptocurrency. The charts show movement similar to Dogecoin’s behavior in 2014, 2018, and in the landmark 2021 year.
That year saw DOGE increase from $0.0065 to $0.7316, which remains its all-time high. The movement was a massive 11,155% increase for the asset. Although such a drastic surge may not necessarily be in the cards, history could be leading it to a massive surge next month.