Dogecoin’s Relative Strength Index, or RSI, is now at 41, which demonstrates how momentum has turned decidedly negative. RSI measures the balance between buyers and sellers on a scale from 0 to 100. When RSI drops below 50, it indicates sellers are dominating buyers. At 46 for DOGE, we’re seeing accelerated sell pressure without yet reaching oversold conditions below 30. Yes, that’s as bad as it sounds.

The bottom line is this chart screams more downside is likely, since sell happy traders aren’t even close to reaching levels where buyers would then step in and bounces typically occur. Is Doge now losing market value?