Dogecoin price analysis (Bullish) — 0.17 USDT (-3.36% 24h)

DOGE is showing signs of capitulation with a 3.36% decline pushing price to $0.172, dangerously close to oversold territory. The RSI reading of 29.5 indicates extreme selling pressure that historically precedes potential bounces in meme coins. Current price sits below both the 20-day SMA ($0.174) and 50-day SMA ($0.178), confirming the bearish structure but also suggesting limited downside from here. The elevated 4% volatility combined with substantial $153M daily volume signals active accumulation by contrarian traders. For position traders, scaling into long positions between $0.168-$0.172 offers favorable risk-reward, targeting a retest of the $0.178 resistance level. Day traders should watch for bullish divergence on lower timeframes and consider quick scalps on any positive catalyst. Stop losses should be placed below $0.165 for swing positions.