Dogecoin Flashes Major Buy Signal – A 100% Rally Could Be Next

Dogecoin may be gearing up for one of its biggest breakouts of the year. A key trend indicator has just flipped bullish, and analysts say the last time this setup appeared, DOGE doubled shortly after. Traders are watching closely to see whether the memecoin king is about to launch a new leg upward.

An analysis by a top trader shows that the TD Sequential, a key metric that tracks trend changes of assets, just flashed buy on the asset.

According to the analyst, the last time DOGE flashed the same configuration, the asset surged more than 100%. Marking the start of a major trend reversal. With the same pattern now emerging, analysts argue that Dogecoin’s downside exhaustion may already be complete.

Analysts Say Dogecoin Just Confirmed a Major Strength Signal

Most crypto assets including bitcoin have been in a bearish trend, but Dogecoin has shown strength which the TD Sequential has only confirmed.

Only a few days ago while the coin’s price was still falling, the relative Strength index (RSI) showed strength as it was rising in defiance of the price crash. Analysts say such a sign comes just before a reversal.

Already, this reversal is being confirmed as Dogecoin is seeing an upward price move alongside other crypto assets.

As of the latest data, DOGE is up 4.64% in 24 hours, making it the second-strongest performer among the top 10 cryptocurrencies.

What’s Fueling Dogecoin’s Momentum Shift? 

Dogecoin endured heavy losses during the recent market-wide correction but appears to be recovering faster than expected.

A key catalyst behind this newfound strength is the approval of the Grayscale Dogecoin Trust ETF, which the New York Stock Exchange has greenlit for listing. Trading is scheduled to begin on Monday, November 24.

ETF approvals often attract institutional inflows and can significantly boost visibility and legitimacy for an asset. Analysts say this development is likely playing a major role in DOGE’s accelerated recovery.

Although this isn’t the first dogecoin ETF to launch in the U.S., analysts believe the grayscale ETF will change the fortune of the coin.

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