Dogecoin price is key as The Relative Strength Index hints at a 500% rally, though past June trends point to a possible dip before recovery.
Dogecoin (DOGE) may soon return to its all-time high, as a critical technical indicator indicates that the largest meme coin is on the brink of a rebound from its most recent low.
Nevertheless, historical data suggests that June is one of the most underperforming months for the Dogecoin price, with only three positive returns since 2014.
In 2025, can Dogecoin retest its all-time high of $0.73 despite the conflicting signals?
At the time of publication, Dogecoin price had increased by a modest 1.7%, trading at $0.19.
Its gains result from a recovery in the meme coin market, which saw a $3 billion increase in the total market capitalization of these tokens on June 3.
Dogecoin Price Analysis- RSI Signals Rebound
The meme token may have reached a local bottom, as the weekly Dogecoin price chart indicates.
The RSI is following the same trajectory as it did in Q3 2024, before the subsequent 500% rally.
At that time, the RSI momentarily surpassed 50 but retreated to the bearish zone.
Subsequently, the bulls assumed control and increased prices from $0.08 to $0.48 over five months.
This pattern is currently in effect, as in early May, when Dogecoin’s RSI briefly exceeded 50.
However, it has since reverted to bearish territory.
The RSI is trending upward, similar to its position in August 2024, prior to a bullish breakout.
The Dogecoin price may experience a rally of over 500% to $1.23 if history repeats itself.
Dogecoin will have attained an all-time high of $1.23 at this juncture, and a rally of this magnitude could take months to unfold, as it did last year.
Nevertheless, the aforementioned bullish thesis may be rendered invalid if the price of DOGE descends below the $0.13 critical support.
This decline may transpire if Dogecoin’s double-top pattern, which was recently delineated in a CoinGape analysis, is realized or if there is an additional sell-off shortly.
Historical Returns May Compromise Rally To ATH In June
According to analyst MAXPAIN on X, June has been one of the most underperforming months for Dogecoin, as it has experienced negative returns for eight consecutive years between 2017 and 2024.
The price of DOGE has experienced a modest 1.8% increase thus far in June 2025.
The crypto market is renowned for its ability to replicate historical patterns.
However, the bearish signals that emerged in June may impede the ability of this top meme coin to make substantial gains to an ATH.
The year’s final quarter is the most favorable time for Dogecoin to reach an ATH before 2025 concludes, as most crypto prices tend to rebound during this period.
The price may surpass $1 by the end of the year if the 500% rise depicted in the weekly chart occurs during these months.
Bottom Signal Is That 28% Of Dogecoin Holders Are Underwater
The Market Value to Realized Value (MVRV) ratio indicates that the current Dogecoin holders who acquired DOGE within the past year are experiencing a 28% loss.
Long-term holders have frequently identified an accumulation zone and a bottom formation due to such substantial losses.
Before Dogecoin’s 500% rally began last year, the MVRV was significantly negative, as it is currently.
This decline was preceded by a significant uptrend that propelled the price of Dogecoin to multi-year highs.
The negative MVRV could indicate an upward trend if history repeats itself.
Nevertheless, rebounding from this low point is not always immediate and can take several months.
This provides additional evidence to support the hypothesis that the Dogecoin price may not rebound to its all-time high (ATH) shortly; however, it is feasible before the year’s conclusion.
In conclusion, the RSI movement of Dogecoin indicates the over 500% rally that transpired in the latter half of 2024.
This meme coin may experience a significant increase in value to $1.23 if history repeats itself.
Nevertheless, DOGE continues encountering challenges in June, as it has historically been one of the altcoin’s least successful months.
