Dogecoin's monthly relative strength index has dropped to its lowest level in 13 years, according to crypto analyst Cryptollica on Oct. 1. According to NS3.AI, Cryptollica described the reading as a potential long-term opportunity, while noting that it does not guarantee an immediate reversal.

Trader Kaleo said Dogecoin could reach $1 in the next bull run. Crypto analyst Davie Satoshi added that a long-term chart pattern could, if it plays out, send Dogecoin above $5.