$DOGE's Prolonged Weakness May Signal Crypto Market's Missing Retail Enthusiasm

Market analyst Jordi Visser believes that the crypto market is missing retail investor enthusiasm to drive its next major rally. According to him, Dogecoin ($DOGE) is a key indicator of this energy.

Visser's Crypto Financial Rails 40 Equal Weight Index, which tracks the performance of 40 crypto-related companies and protocols, has outperformed both Bitcoin and $DOGE in 2026. The index started the year at 100 but fell sharply during January and February's market downturn, recovering through the spring.

$DOGE has been significantly weaker than $BTC and the broader index, showing that retail-driven speculation has not yet returned. It has now recorded its longest continuous streak of daily closes below its 20-day moving average, with a current streak of 65 consecutive days.

Visser is still looking for a true ecosystem breakout to bring in the energy from retail investors, best seen from $DOGE's performance.