Peter Smith
Dogecoin (DOGE) has dropped into oversold territory with its RSI falling to 29.36, but buyers aren't showing up despite what should be a good buying opportunity.
DOGE (Dogecoin) Technical Signals Point to Trouble
Dogecoin (DOGE) officially hit oversold territory on June 21, 2025, when its daily RSI dropped below 30 to reach 29.36. Usually, this kind of reading brings in buyers looking for a bargain, but that's not happening this time.
Back in early March, when DOGE's RSI hit similar levels, the price jumped 18%. The difference? This time, nobody's buying. DOGE is sitting at $0.1549, barely above its daily low, and there's no sign of a turnaround yet.
When DOGE last hit these RSI levels, the price was near $0.12 before bouncing back. What made that recovery work was rising volume and positive RSI divergence - two things that are completely missing right now. Volume is flat, and the price keeps dropping.
The technical setup looks even worse when you dig deeper. In March, the oversold RSI came with consolidation patterns and a bullish RSI cross. Now, the RSI signal line is still bearish, and the downward trend hasn't even started to flatten out.
Dogecoin (DOGE) Volume Stays Weak Despite Oversold Conditions
The lack of volume is probably the biggest red flag for Dogecoin (DOGE) right now. When assets get this oversold, you usually see traders jumping in, but that's just not happening. The volume is staying the same while the price keeps sliding.
What's really concerning is that none of the support levels are holding. Every time DOGE tries to find a floor, it breaks through and keeps going lower. Without any meaningful support showing up, this oversold reading might just be another signal that gets ignored.
DOGE Faces Bigger Problems Beyond Technical Levels
The bigger picture for Dogecoin (DOGE) isn't pretty either. DOGE has been sliding since early June, losing over 40% from its highs above $0.26. Every small bounce has failed, and every support level has eventually broken.
This creates a tough environment where even reliable technical signals like oversold RSI readings get ignored. Until something changes - like a volume spike, pattern break, or some kind of divergence - this oversold condition is more of a warning than a buying opportunity.
The bottom line is that DOGE is technically oversold, but the market isn't responding like bulls would want. We need to see stronger reversal signals before calling this anything more than another ignored technical indicator in a market that's lost its bullish conviction.
Peter Smith
