Dogecoin (DOGE) is trading at $0.07208 on July 14, struggling to recover after a 37% plunge from its May peak near $0.115. The meme coin remains pinned below its 20-day Bollinger Band midline, with the lower band at $0.07028 and the middle band at $0.07411.
Technical analysts note that the daily RSI divergence indicator flashed a bullish setup in early July after bottoming near oversold territory, suggesting a potential reversal. Yet, bearish calls from Morgan Creek Capital’s Mark Yusko weigh on sentiment. Yusko warned that a single Elon Musk sale could drive DOGE’s price to zero, labeling the token as “exit liquidity.”
In the options market, trading volume surged 101.75% overnight, reaching $1.00 billion in open interest, though open interest slipped 1.43%. This surge marks the first significant activity in weeks, as traders position for a price breakout.
The conflicting signals keep DOGE in a tight range. Bulls point to the RSI divergence as a reliable buy signal, while bears highlight the vulnerability to a sell-off from large holders.
