Technically, DOGE is down more than 10% over the past thirty days, in line with the memecoin market losing over $2 billion in market capitalization. As the chart below shows, DOGE has reached one of its most oversold levels on record. Bears see DOGE’s oversold RSI as a sign that the correction is not over, making any bounce an opportunity to exit. Bulls, however, argue that these extreme RSI levels have historically marked major bottoms, making the current pullback a potential buying opportunity. The idea is simple: rising network activity while DOGE trades at historically oversold levels is unlikely to be a coincidence.