Dogecoin (CRYPTO: DOGE) is flashing its most oversold technical setup ever, with market participants pointing to historically weak momentum readings.
Most Oversold Levels Ever Crypto trader Ash Crypto said DOGE has reached its "most oversold levels ever," and its monthly RSI has fallen below levels seen during the 2022 bear market bottom.
He noted the meme coin is down about 90% from its all-time high and recently touched a three-year low of $0.067.
Ash Crypto remains curious if the setup could mark a long-term bottom for the coin.
Meanwhile, trader Crypto Scient revealed he has opened a long position in DOGE after largely avoiding altcoins in favor of Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH) and Solana (CRYPTO: SOL).
