{"id":98801,"date":"2025-09-23T03:00:02","date_gmt":"2025-09-23T03:00:02","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=98801"},"modified":"2025-09-23T03:00:02","modified_gmt":"2025-09-23T03:00:02","slug":"dogecoin-warning-double-top-formation-hints-at-decline-analyst","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=98801","title":{"rendered":"Dogecoin Warning: Double Top Formation Hints At Decline \u2013 Analyst"},"content":{"rendered":"

Dogecoin<\/a> fell to $0.238 after a sharp sell-off that erased gains and pushed volatility higher. According to market feeds, the coin lost 9.5% in the past 24 hours and about 8% over the week, with a sudden spike in activity that traders say caught many off guard.<\/p>\n

Double Top Triggers: Cause For Concern?<\/h2>\n

According to analyst Merlijn The Trader, price action showed two failed attempts to push higher before sliding beneath a neckline near $0.27. That setup produced a measured move target around $0.238 \u2014 a level the market reached.<\/p>\n

Resistance sits at $0.27, and a daily close above $0.28 would weaken the bearish case. For now, traders watching the pattern see the chart as favoring downside while the price stays under the neckline.<\/p>\n

$DOGE<\/a> IS FLASHING A TEXTBOOK DOUBLE TOP.<\/p>\n

Bearish retest locked. Target sits at $0.238.<\/p>\n

Don\u2019t confuse noise with signal.<\/p>\n

The chart is already telling the truth. pic.twitter.com\/GJ32G2kniw<\/a><\/p>\n

\u2014 Merlijn The Trader (@MerlijnTrader) September 21, 2025<\/a><\/p>\n\n

Retest Keeps Bull Case Alive<\/h2>\n

Other analysts have a different read, pointing out a completed retest of a long running descending trendline that had capped rallies for months. The breakout above that line was followed by a pullback into a $0.24\u2013$0.25 zone where support showed up.<\/p>\n

If the memecoin holds above that base, momentum could push toward $0.30, with further upside possible to $0.32\u2013$0.35 \u2014 levels the token traded at earlier this year.<\/p>\n

On-Chain Data And Market Activity<\/p>\n

Reports have disclosed on-chain measures that add context to the price swings. Market Value to Realized Value, or MVRV<\/a>, has climbed but is still below the highs seen in prior tops, a point raised by some analysts. DOGE has traded mostly between $0.20 and $0.25 since 2023, which some see as a steady base rather than a blow-off top.<\/p>\n

Trading numbers underline the heat. Market cap<\/a> sits near $36 billion while 24-hour volume surged to about $4.7 billion \u2014 up 180%. Circulating supply is steady at 151.04 billion DOGE, and the volume-to-market-cap ratio sits at 13.04%, a sign of unusually aggressive activity from both large holders and retail traders.<\/p>\n

ETF Talk Fuels Price Targets<\/p>\n

ETF chatter<\/a> remains part of the mix. Based on market commentary from Ali Martinez, regaining the $0.27\u2013$0.28 band could spark a quick push toward $0.45, with interim targets at $0.39.<\/p>\n

Martinez points to the brief breakout above $0.27 as a bullish signal, even if it did not hold for long. For many traders, ETF expectations are the catalyst that would turn near-term weakness into renewed rallies.<\/p>\n

Featured image from Unsplash, chart from TradingView<\/em><\/p>","protected":false},"excerpt":{"rendered":"

Dogecoin fell to $0.238 after a sharp sell-off that erased gains and pushed volatility higher. According to market feeds, the coin lost 9.5% in the past 24 hours and about 8% over the week, with a sudden spike in activity that traders say caught many off guard. Double Top Triggers: Cause For Concern? According to […]<\/p>\n","protected":false},"author":0,"featured_media":98802,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-98801","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/98801"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=98801"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/98801\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/98802"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=98801"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=98801"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=98801"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}