Recently, the trend of Dogecoin has really accelerated my heartbeat. The price chart faintly shows the shadow of a 'double top'—this is the alarm that bulls fear the most! At the end of July and the beginning of August, Dogecoin attempted to break the $0.30 barrier twice but failed to stabilize, ultimately falling back to $0.27-$0.28, forming a lower high than before. It looks like it is brewing a 'double top' pattern. If the price breaks below the key support, this risk might become a reality, and the likelihood of a downward movement in the short term is greater.

The current support is around $0.21-$0.22, with several moving averages supporting it, especially as the 50-day moving average is about to create a 'golden cross' with the 200-day moving average, which is usually considered a bullish signal in technical analysis. But don't celebrate too early; a golden cross is not a universal key.

Currently, the market lacks momentum, and the price has been unable to break through recent highs, which greatly diminishes the effectiveness of the golden cross. Even if it does occur, it may only bring a brief rebound and cannot support a significant trend.

The trading volume is also quiet, lacking enough energy to break through. Once a large sell order appears, the low trading volume may accelerate the price drop. The RSI indicator is in the 50-55 range, which is neutral, showing no signals of overbought or oversold.