Dogecoin Price Plummets 90% From Peak Amid Extreme Oversold Conditions
The Dogecoin (DOGE) price has taken another hit, falling below $0.070 after a 3% decline in the opening week of August 2026. This marks a significant drop, with DOGE now down 90% from its peak levels. The meme-based digital asset is currently trading between $0.0691 and $0.0698 on various exchanges.
According to cryptocurrency analyst Ash Crypto, DOGE has reached unprecedented oversold territory on the monthly RSI indicator. This extreme oversold condition is more severe than what was seen during the 2022 bear market nadir. The current price action has DOGE beneath all three primary exponential moving averages, with resistance at $0.0754 and $0.0986.
While some analysts see potential stabilization in emerging metrics, such as increased Open Interest across DOGE perpetual futures contracts, others caution that a break below $0.067 could expose the $0.060 level. The market is closely watching whether this foundation can withstand continued pressure.