📈 The cryptocurrency market is likely witnessing a pre-halving consolidation, evidenced by a narrow range formation in Bitcoin. While a majority of major altcoins follow the same trend, the leading meme cryptocurrency, Dogecoin, showcased a notable upswing hitting a 27-month high of $0.228.

💡 However, the market is poised for a potential uptrend in the upcoming weeks as we approach April - the scheduled month for Bitcoin halving. Will this renewed market recovery push the DOGE price to the $0.3 milestone?

🔄 The Dogecoin price rebounded from its last correction in March’s fourth week as buyers found suitable support at the 50-day EMA. The positive turnaround uplifted the asset from $0.122 to $0.21 high, registering 86% growth.

💰 With a market cap of $30.2 Billion, Dogecoin holds its position as the 8th largest cryptocurrency as per Coinmarketcap. However, an analysis of the higher time frame chart shows parabolic growth resembling the formation of a rounding bottom pattern, often considered a sign of a downtrend bottoming and an opportunity for a new bull run to emerge.