Dogecoin (DOGE) is currently priced at $0.128422, experiencing a notable decline of 5.88% over the past 24 hours. The price movement within this period has been constrained between a high of $0.137376 and a low of $0.127429, indicating weak bullish momentum as it approaches its daily range of just 0.009947%.

Trading volume has surged to approximately 1.295 billion, contributing to a market cap volume ratio of 6.62%. This level of activity suggests heightened interest, but the downward price trend raises concerns about sustainability as the 1-hour RSI sits at a critically low level of 13, signaling potential oversold conditions.

Technical indicators show a consistent decline across various moving averages, with the 8-period SMA at $0.1289 reflecting a modest decrease of 0.37%. The 55-period SMA at $0.1358 and the 144-period SMA at $0.1389 indicate broader bearish sentiment, with losses of 5.40% and 7.54%, respectively.

Over the past week, DOGE has experienced a price drop of 8.85%, compounded by a 14-day decrease of 5.54% and a significant 30-day decline of 21.34%. These figures underscore a longer-term negative trend, raising caution for potential buyers as the cryptocurrency hovers at a considerable distance from its all-time high of $0.731578.

In light of the technical and fundamental data, the current market conditions suggest a bearish outlook for Dogecoin. The combination of declining moving averages, high selling pressure indicated by the RSI, and recent price performance leads to a recommendation to Sell. Short-term traders may want to consider exiting positions to mitigate losses, while potential long-term investors should wait for clearer signals of recovery.