Dogecoin (DOGE/USD) recent correction has led traders to call the current price a prime accumulation zone

Crypto trader Kevin pointed out that Dogecoin's weekly RSI is at the same level as October 2023 when DOGE was trading at $0.10.

Dogecoin's recent correction has led traders to call the current price a prime accumulation zone.

What Happened: Crypto trader Kevin pointed out that Dogecoin's weekly RSI is at the same level as October 2023 when DOGE was trading at $0.10.

> The #Dogecoin weekly RSI is at the same level it was at when price was at .10 cents in October of last year.

> We are also at a key trend line that we have been holding since 2023 and the macro 0.5 Fib retrace at .19 cents.

> Not a bad spot to start if you were looking to get some bags.

Several oversold signals suggest this could be an ideal accumulation zone, provided proper risk management is applied.

Trader Tardigrade sees DOGE forming an ascending broadening wedge, which could act as a base for its next breakout. Another crypto analyst, Javon Marks, is even more bullish, predicting DOGE is on track for new all-time highs above $0.73905, a potential 261% surge from current levels.

Why It Matters: Crypto analyst Ali Martinez shared Glassnode data showing Dogecoin addresses have hit a new all-time high of 83.48 million. Despite recent price dips, network adoption continues to grow, a positive long-term signal.

Polymarket data shows the probability of a Dogecoin ETF approval in 2025 jumped from 55% (March 3) to 66% (March 5). This follows NYSE Arca's 19b-4 application seeking approval to list shares of a Dogecoin ETF proposed by Bitwise Asset Management.