Dogecoin just touched $0.067, its lowest price in three years. The move came after a brutal 10% slide over the past month, dragging the entire memecoin sector down by over $2 billion in market value. DOGE's chart is flashing extreme oversold signals, with its monthly RSI dropping below levels last seen during the 2022 bear market collapse. That's where the agreement ends.
The token now trades roughly 90% below its all-time peak. It's also crashed through a critical support zone around $0.08-$0.07 that held since late 2023. That breakdown likely caught plenty of holders underwater. According to traders watching the action, many who'd bet on higher prices chose to bail out rather than sit through the fear and uncertainty.
Buy the dip or exit the bounce?
The market has split into two camps. Bulls point to DOGE's historically extreme RSI as a classic capitulation signal, the kind that's marked major bottoms in the past. Some analysts are already calling this the biggest buying opportunity in years, with forecasts pushing toward $1. Bears see it differently. They view the breakdown below key support as a warning that selling pressure has more room to run, and any relief rally is just a chance to get out.
On-chain data may be tilting toward the bulls. Weekly active Dogecoin addresses jumped 16%, climbing from 38,000 to 44,000, suggesting network activity is picking up even as price tanks. That kind of disconnect, where transaction participation rises during a selloff, sometimes signals smart money accumulating while panic sellers dump.
DOGE is now sitting at a critical inflection point. Whichever direction breaks first could trigger cascading liquidations and shape the entire third quarter for memecoins. The token's price action has become a barometer for the entire sector, since DOGE, as the largest memecoin, still drives sentiment across the space and controls where capital flows next.
This material is for information purposes only and should not be taken as financial advice or investment recommendation.
