Dogecoin price analysis (Bearish) — 0.24 USDT (-10.80% 24h)

DOGEUSDT is showing significant bearish pressure with a sharp 10.8% decline over the past 24 hours, trading at $0.23976. The RSI reading of 10.87 indicates extreme oversold conditions, suggesting potential for a short-term bounce, though this doesn’t guarantee immediate reversal. Price is trading below both the 20-day SMA ($0.2569) and 50-day SMA ($0.2629), confirming the downtrend structure. High volatility at 3.9% reflects elevated market uncertainty. Trading volume of $564M remains substantial, indicating active participation. Current strategy should focus on risk management – consider scaling into long positions only if RSI shows divergence or price reclaims the 20-day SMA. Short-term traders might look for oversold bounces, but maintain tight stops given the strong downward momentum.