Dogecoin Warning: Head & Shoulders Pattern Signals Possible 14% Drop to \$0.1880
Dogecoin (\$DOGE) traders are spotting a classic Head & Shoulders formation on the 4-hour chart. Currently trading at \$0.2177, DOGE is testing a critical support trendline that could trigger a sharp selloff.
This beloved meme coin is now drawing attention for the wrong reasons. A textbook bearish pattern is forming, which could lead to one of its most significant drops in months.
Key Observations:
* DOGE is at \$0.2177, hovering near a crucial support line.
* The 4-hour chart shows a clear Head & Shoulders pattern, a strong bearish signal in technical analysis.
* Daily trading range (\$0.2143–\$0.2183) reflects market uncertainty.
Potential Price Movement:
* If support breaks, DOGE could plunge to \$0.1880—a 14% drop.
* Some traders see a possible short-term bounce to \$0.25–\$0.28 before a major breakdown.
Advice:
* Wait for candle closes and trade cautiously; avoid rushing in.
* Charts indicate caution; even bullish traders are prepared to exit.
