Dogecoin (DOGE) has officially dipped into oversold territory, but so far, the market isn't showing any signs of a bullish response. The daily RSI just dipped below the 30 mark, landing at 29.36 as of June 21, 2025. This usually indicates a technical "oversold" condition, which is a level where assets often attract investors looking to buy at dips.
But unlike in early March, when a similar RSI print triggered a solid 18% surge, this time around, DOGE bulls are nowhere to be seen.
The price is currently at $0.1549, just below the day's low, and the overall structure doesn't show any signs of a reversal yet. The last time RSI dipped this low, DOGE's price was at rock bottom near $0.12 before recovering.
What's the difference then? After the move, there was a supportive RSI divergence and pickup in volume. At the moment, neither is there. The volume is staying the same, and the price is still going down.
Another worrying sign is the lack of any significant support breakout. Back in March, RSI's push off the floor lined up with consolidation candles on the chart and a bullish RSI cross. This time, the RSI signal line (red) is still dominant, and the downward slope doesn't look like it's flattened yet.
There's also the bigger picture to think about. DOGE has been on a slow downward slide since early June, dropping over 40% from its local highs above $0.26. The short-term bounces haven't lasted, and every support level we've tested has eventually broken. Unless that changes, this oversold print may just be another signal ignored by a market still lacking conviction.
To sum it up, DOGE is oversold technically, but the market isn't responding the way the bulls would've hoped.
We'll have to wait for stronger reversal signals, like volume spikes, pattern breaks, or divergence plays, before we can say for sure that this is more of a warning flag than a bounce trigger.
