$DOGE 🚨🚨Dogecoin (DOGE) forms a bearish head and shoulders pattern — Weakening trend 🐻📉

🔥🔥The DOGE chart is forming a classic bearish head and shoulders pattern 🏹⚠️, indicating that the recent bullish momentum is fading. After forming the left shoulder and head, the right shoulder is developing, suggesting distribution by smart holders and the potential for further declines ⬇️📊.

💀💀The RSI is flat 🎯 near neutral levels, indicating buyer fatigue, while the MACD crossover is bearish 🔄📉 confirming increasing selling pressure. Trading volume has spiked 🔻🔥 primarily during red candles, indicating rising selling pressure and decreasing buying volume 💸📊.

📊📊On-chain data reinforces the warning — exchange balances are rising 🏦📈 as DOGE returns to platforms, whale distribution 🐋📤 continues, and wallet growth is slowing 📉💤 indicating weakening accumulation. Social sentiment is cooling down 🧊📱 further highlighting the fading excitement in the community.

🐻🐻Technically, the neckline 🚧🧭 is very important. A confirmed breakout could trigger a sharp downward move ⬇️⚡. Analysts note that the failed recovery during the formation of the shoulders suggests a higher probability of further corrections 💀🧱.