Dogecoin Price Hits Historic Low as DOGE Breakout Hopes Begin to Fade
Key Insights:
- Dogecoin price hits its lowest monthly RSI level in 13 years, drawing fresh attention from traders.
- August has been a weak month for DOGE crypto, though the last two years have seen small gains.
- Dogecoin community member Mishaboar urges users to keep long-term holdings in cold wallets rather than on smartphones.
Dogecoin price is back in focus after its monthly RSI fell to its lowest level recorded in 13 years. The reading has split opinion across the market, while fresh wallet safety advice has also sparked a wider discussion among DOGE crypto holders.
Dogecoin Price Falls to Lowest Monthly RSI in 13 Years
Dogecoin price has reached a level that has not been seen in more than a decade after its monthly Relative Strength Index, or RSI, dropped to a 13-year low. The chart was shared by market analyst Cryptollica, who described the setup as one of the biggest opportunity zones in the coin’s history.
The RSI is a tool traders use to measure price strength. A very low reading can show that selling has been heavy. Some traders believe that it can come before a recovery, although it does not guarantee that prices will move higher.
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