$DOGE

⚠️ There’s a Big “M” on the DOGE Chart — Dump Ahead 🪤📉

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Dogecoin (DOGE) is flashing a double-top “M” pattern on the daily chart — a classic bearish reversal signal. This formation suggests that DOGE may face a significant price decline if key support levels fail to hold.

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The “M” pattern is characterized by two peaks at similar price levels, indicating that buying pressure is weakening. If DOGE breaks below the neckline of this pattern, it could confirm the bearish trend and lead to further downside.

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Technical indicators support this bearish outlook. The Relative Strength Index (RSI) is neutral at 47.5, suggesting a lack of bullish momentum. The Moving Average Convergence Divergence (MACD) shows a slight bullish divergence, but it's not strong enough to counteract the bearish pattern. Volume has been increasing over the past 24 hours, indicating that selling pressure may be building .

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Key support levels to watch are $0.223 and $0.21. If DOGE breaks below these levels, it could trigger a further decline. Resistance levels are at $0.257 and $0.275 .

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In conclusion ✅🎯, the appearance of a double-top “M” pattern on the DOGE chart is a warning sign. Traders should exercise caution and watch for a break below key support levels, which could confirm the bearish trend and lead to a significant price decline.