• DOGE has experienced a massive exodus from retail buyers as speculation around its fundamentals finally took its toll.
• But is this the start of something new for DOGE?

The exceptions among memecoins that have stayed in the green over the past thirty days are few. With double-digit losses, both dog and cat coins have slipped well below their psychological targets. Even the largest memecoin, Dogecoin [DOGE], hasn’t been spared.

However, as the market begins to recover from its recent meltdown, even memecoins are showing signs of life, with DOGE seeing an 11% jump from the previous day’s close.

Momentum is building. Still, DOGE has a long road ahead to recover its losses and push stakeholders into the green.

How can DOGE break out?

A glance at the daily chart reveals clear signs of profit-taking, with DOGE nearing $0.50—a level it hasn’t touched in three years. For cautious investors, cashing out at the peak was a straightforward decision.

Now, with the RSI dipping below 40, a potential rebound seems possible. A low RSI often signals that an asset is oversold, presenting a tempting opportunity to buy the dip.

However, history advises caution. While DOGE’s RSI dropping below 40 has occasionally sparked minor bullish moves, its notorious volatility keeps traders on edge.

Dogecoin has only reached an overheated state when its momentum aligned with Bitcoin hitting a peak.

So, can Bitcoin lead Dogecoin out of its two-week-long consolidation? After weeks of long red candlesticks weighing down DOGE’s daily chart, we’re finally seeing some relief with a solid double-digit jump.

This surge coincides with Bitcoin’s recovery from its recent crash, making it plausible that the momentum could carry DOGE further.

However, with memecoins like DOGE, it’s rarely that simple. While the low price tag can be t

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Author: Ripley G