The biggest meme coin has plunged deep into the red on a monthly scale 🖤 performing far worse than Bitcoin or Ethereum during this stretch. It even hit its lowest point since autumn 2023 before clawing back a bit of ground 💀
Major Bullish Signal 🪙
Right now DOGE sits below 0.07 with a market cap near 10.8 billion. This keeps it in the 10th spot yet the multi year slide stands out clearly 🌑
X user Ash Crypto noted that the meme coin recently plunged to a three year low of roughly 0.067 and is down 90% from its all time high. The analyst also told their more than two million followers that DOGE’s monthly Relative Strength Index has reached its most oversold level since the 2022 market bottom. View tweet
Such a move usually screams bullish as it hints at seller exhaustion and a fading downtrend 🦇
MikybullCrypto also touched upon the matter envisioning a rise to a new historical peak during the next bull run: “You don’t remain bearish at this current macro support level. The most oversold level in RSI. 1 is coming next during its bullish reversal.” View tweet
Is DOGE Waking Up? 🌙
Another positive comment came from Ali Martinez. The renowned analyst revealed that weekly active DOGE addresses have jumped 16% from around 38,000 toward the end of July to roughly 44,000 as of now indicating a sharp increase in on chain activity. View tweet
This signals bullish vibes as more users return to the network often fueling momentum for an upward push 🔮
Not long ago Martinez chipped in again revealing that DOGE’s TD Sequential indicator has flashed buy signals on the monthly weekly 3 day and daily charts. He described this as a rare setup that could precede a major price rally 🕯️
Just another echo from the void by iconofsin.eth 💖
