[DigitalToday reporter Yeseul Kim] Dogecoin is fueling investor expectations as it shows signs it could turn stronger against bitcoin.

The Crypto Basic, a blockchain outlet, reported that on Feb. 23 local time bitcoin fell 2.13 percent in a day to $65,828, while dogecoin rose 0.52 percent over 24 hours.

On the weekly DOGE/BTC chart, the RSI (relative strength index) is rising, suggesting selling pressure is easing. Traders see the shift in momentum as a potential signal for a rise in dogecoin.

Crypto trader Surf shared the weekly DOGE/BTC chart and said, "The weekly close is important." On the chart, both the price and RSI rose slightly compared with the previous setup. The chart shows a falling structure on the weekly timeframe, with dogecoin in a major downtrend against bitcoin. But the RSI, marked in white below the price action, is rising and pushing against a falling resistance line, it said.

The RSI is close to the downtrend line, raising the chances of a price breakout. In technical analysis, if the RSI breaks through a falling resistance line, a price rise is more likely to follow, it said. On longer chart cycles such as the weekly chart, an RSI breakout often precedes a price breakout, it added.

Dogecoin was trading at $0.09606 and has turned to gains after recovering a short-term decline. Bitcoin remains in a downtrend. If the trend continues, it would mean dogecoin is starting to outperform bitcoin, and could be an early sign that capital is shifting to memecoins.

If bitcoin remains stable, dogecoin's strong run may continue. But if bitcoin's decline deepens, dogecoin's rise could be limited as investors cut exposure to memecoins, it said. Even so, the outlet reported that traders watching momentum indicators see the slight rise in the RSI as an early sign that dogecoin is preparing for a bigger move.