Dogecoin’s weekly chart is showing a rare signal that could be significant. Analyst Cryptollica noted that DOGE’s weekly RSI has dipped to around 33.6, a level that has only appeared four times in the past 11 years.
At the time of writing, DOGE was trading near $0.129, down moderately on the day. A weekly RSI this low typically indicates sustained selling pressure, which carries more weight than short-term fluctuations.
Cryptollica highlighted that this same RSI zone appeared in early May 2015, March 2020, mid-June 2022, and now. The key question is what happened next each time.
In May 2015, DOGE was around $0.000087. After a prolonged drift, it eventually surged during the 2017–18 bull run, peaking near $0.017 in January 2018—a gain of roughly 19,000% from that low.
During the March 2020 COVID panic, DOGE traded around $0.001537. It later skyrocketed to an all-time high of about $0.7316 in May 2021, a staggering increase of nearly 47,000%.
By mid-June 2022, DOGE had fallen to around $0.053 amid a bear market. It later recovered, reaching approximately $0.220 by March 2024—a gain of about 315%.
Now, with DOGE near $0.129, some see the weekly RSI level as a sign of potential seller exhaustion, similar to past turning points. This suggests the risk/reward balance may be shifting, making DOGE worth watching again.
However, RSI is not a timing indicator. Oversold conditions can persist, and broader market risks could override any signal. For now, this is a setup—not a guarantee. If DOGE begins to hold higher levels, proponents of the signal may claim validation. If it continues to decline, it will simply join the long list of early and painful trading ideas.
At press time, DOGE traded at $0.12878.
Frequently Asked Questions
Frequently Asked Questions About Dogecoins Weekly RSI Reaching a Rare Level
Beginner Questions
1 What is RSI
RSI stands for Relative Strength Index Its a common tool that measures how fast and how much the price of something like Dogecoin has moved recently to help figure out if it might be overbought or oversold
2 What does it mean that Dogecoins weekly RSI hit a rare level
It means that based on this specific measurement taken over weekly timeframes Dogecoins price momentum has reached an extreme that has only happened four other times in the last 11 years Its a statistically unusual event
3 Is this a good or bad sign for Dogecoin
Historically an extremely low weekly RSI has often signaled that a major price decline may be exhausting itself and that a potential rebound or reversal could be ahead However it is not a guaranteeits a signal that conditions are similar to past turning points
4 Does this rare RSI level mean the price will definitely go up now
No it does not guarantee a price increase It indicates that based on this one metric Dogecoin is in a zone that has preceded significant bounces in the past The price could stay low or go lower before any recovery happens
Intermediate Advanced Questions
5 Why is the weekly RSI more significant than the daily
The weekly RSI looks at price data over a much longer period This smooths out shortterm noise and is generally considered to signal more significant longterm trend exhaustion or strength compared to a daily or hourly RSI
6 What were the outcomes the previous four times this happened
In the past 11 years similar extreme low weekly RSI levels in Dogecoin have typically marked major longterm price bottoms followed by substantial multimonth or multiyear rallies However the exact timing and magnitude of the recovery varied
7 What are the limitations of relying solely on this RSI signal
RSI is just one indicator It should not be used in isolation It doesnt account for broader market conditions Bitcoins trend news events or shifts in overall cryptocurrency adoption A rare signal can become