Dogecoin Reaches Most Oversold Levels Ever: Time for a Comeback?

Dogecoin (CRYPTO: DOGE) has reached its most oversold technical setup ever, according to crypto trader Ash Crypto. The meme coin is down about 90% from its all-time high and recently touched a three-year low of $0.067.

The monthly RSI for Dogecoin has fallen below levels seen during the 2022 bear market bottom, with Ash Crypto suggesting this could mark a long-term bottom for the coin.

ChimpZoo, a degenerate trader, also sees Dogecoin as one of the most asymmetric opportunities in crypto. He expects the token to potentially rebound 2x to 3x toward the $0.20-$0.25 range in the coming months after possibly bottoming between $0.05 and $0.07.

The current setup is seen as attractive by Ash Crypto, who notes a successful move higher could signal improving conditions across the broader altcoin market.