Dogecoin’s RSI Remains Below Overbought Levels, Indicating Room for Growth

As of May 10, 2025, Dogecoin’s Relative Strength Index (RSI) stands at 58, well below the overbought threshold of 70.

Dogecoin (DOGE) price has potential to rise further, Relative Strength Index suggests.

What Happened: As of Friday morning, Dogecoin is trading at $0.2293, with a 24-hour trading volume of over $4 billion. The digital currency has seen a 0.11% increase in the past 24 hours.

Dogecoin's RSI remains below overbought levels, indicating room for growth, while other technical indicators suggest a potential bullish reversal for DOGE.

> Dogecoin's monthly RSI still has a lot of room for the next surge

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The RSI is a momentum oscillator that measures the speed and change of price movements. An RSI below 70 indicates that an asset is not overbought, leaving room for potential price appreciation. In Dogecoin's case, the current RSI value supports the possibility of a bullish trend developing.

Technical indicators, such as the Moving Average Convergence Divergence showing a bullish crossover and increasing trading volumes, suggest a potential reversal of the downtrend and a surge in price for Dogecoin.

However, it's crucial to consider external factors, such as overall market sentiment and macroeconomic conditions, which can influence cryptocurrency prices and affect the direction of price movements for assets like Dogecoin.

Why It's Important: Dogecoin has been a popular cryptocurrency among retail investors, and any significant price surge could attract even more attention and investment in the meme coin.

The potential for Dogecoin's price to rise further is also being discussed among crypto traders on X, formerly Twitter.

One trader noted that Dogecoin is "now testing the 200EMA on the 4H chart, which could be a crucial level to break above for further gains."

Another trader pointed out that "Mog coin has been on a tear lately, and it seems to be gaining momentum with each new all-time high."

Mog coin is a derivative of the popular meme coin Pepe coin, which has seen a strong rally in recent weeks.

See More: Best Cryptocurrency Scanners

handles the Mog coin analysis in his post. Pointing out that the coin is "still in a bull market," the trader says that it could "easily see $0.8 get hit and maybe even $1."

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