Dogecoin (DOGE) recorded another daily decline, drawing renewed attention to long-term technical signals. As of June 30, 2026, the memecoin dropped 1.61% to trade at $0.07097. Trading volume for the day stood at $1.16 billion, while the market capitalization was reported at $10.87 billion.
RSI revisits oversold conditions seen in 2022
Crypto analyst Trader Tardigrade highlighted in a recent weekly chart that Dogecoin’s Relative Strength Index (RSI) has once again entered oversold territory. According to Tardigrade, the last time this technical signal appeared was in 2022, a period that preceded a significant rebound in price after DOGE established a bottom.
Trader Tardigrade points out that, similar to the 2022 lows, Dogecoin’s RSI has re-entered the oversold range. He emphasizes that historically, this setup did not obstruct a sharp recovery but instead accompanied such a move.
The analyst recalls that the prior RSI signal was followed by an 886% rally in DOGE, taking the price up to $0.48. Basing his assessment on this previous scenario, Trader Tardigrade now suggests that $0.70 could represent a potential future target for Dogecoin.
Glossary: RSI, or the Relative Strength Index, is a technical indicator measuring the speed and direction of price movements. Readings below 30 are considered oversold, while levels above 70 indicate overbought conditions.
| Indicator | Level | Meaning |
|---|---|---|
| DOGE price | $0.07097 | Weak daily performance |
| Previous Rally | 886% | Increase following 2022 signal |
| Analyst target | $0.70 | Expectation based on historical precedent |
Short-term pressure weighs on Dogecoin
However, technical indicators suggest that DOGE has yet to find short-term strength. The coin continues to trade below the middle Bollinger band at $0.08106, signaling ongoing selling pressure. Meanwhile, the lower Bollinger band at $0.06950 has emerged as a key support level to watch in the near term.
A look at the MACD indicator further confirms this weak outlook. The MACD line currently sits at -0.00534, with the signal line at -0.00478. The histogram, posted at -0.00056, indicates that any buying momentum remains limited for now.
Despite a long-term signal that stands out on the technical chart, current conditions do not confirm that downside pressure has fully dissipated in the short run.
Support level takes center stage in the coming weeks
The next several weeks could prove decisive for Dogecoin. Market participants will be watching closely to see if the renewed RSI signal kicks off a strong rebound, as it did in 2022. Should buyers manage to defend key support regions and momentum indicators start to improve, confidence may gradually return to the market.
Conversely, if selling pressure persists and the $0.06950 support fails, the price could face renewed downward momentum. While the comparison to 2022 is fueling market expectations, analysts caution that additional technical confirmation is needed before the ambitious $0.70 target becomes credible.
