Dogecoin Buy Signal Triggers Amid Meme Coin Revival
Dogecoin is showing signs of technical reversal as it approaches $0.07. The TD Sequential indicator has flashed a buy signal on the monthly chart, which could indicate a rebound in price. Analyst Ali Charts notes that if support holds at $0.056, Dogecoin could move towards $0.16 first, with the top of the channel near $0.45 as the broader upside target.
A separate analysis from XForceGlobal suggests a potential triangle formation on the Dogecoin chart, which could lead to substantial price movement if price action stays above an invalidation level. The estimate cited ranges as high as ten to twenty times current levels based on accumulation patterns and cycle rotation dynamics.
The recent inflow of $345,130 into spot Dogecoin ETFs on July 21 marks the first net inflows since June 17, breaking a month-long drought without fresh capital entering these products. This development comes as renewed attention is given to meme coins across the broader crypto market.