Dogecoin Warning: Double Top Formation Hints At Decline – Analyst

Dogecoin fell to $0.238 after a sharp sell-off that erased gains and pushed volatility ￰0￱ 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 ￰1￱ Reading: Bitcoin Is ‘Digital Capital’ That Outpaces Traditional Assets—Michael Saylor Double Top Triggers: Cause For Concern? 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 — a level the market ￰2￱ sits at $0.27, and a daily close above $0.28 would weaken the bearish ￰3￱ now, traders watching the pattern see the chart as favoring downside while the price stays under the neckline. $DOGE IS FLASHING A TEXTBOOK DOUBLE ￰4￱ retest ￰5￱ sits at $0.238.

Don’t confuse noise with ￰6￱ chart is already telling the ￰7￱ — Merlijn The Trader (@MerlijnTrader) September 21, 2025 Retest Keeps Bull Case Alive Other analysts have a different read, pointing out a completed retest of a long running descending trendline that had capped rallies for ￰8￱ breakout above that line was followed by a pullback into a $0.24–$0.25 zone where support showed ￰9￱ the memecoin holds above that base, momentum could push toward $0.30, with further upside possible to $0.32–$0.35 — levels the token traded at earlier this year. On-Chain Data And Market Activity Reports have disclosed on-chain measures that add context to the price ￰10￱ Value to Realized Value, or MVRV, has climbed but is still below the highs seen in prior tops, a point raised by some ￰11￱ has traded mostly between $0.20 and $0.25 since 2023, which some see as a steady base rather than a blow-off ￰12￱ numbers underline the ￰13￱ cap sits near $36 billion while 24-hour volume surged to about $4.7 billion — 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 ￰14￱ Reading: Ripple CTO Drops Bombshell: XRP At The Core Of Trillions In Banking Future ETF Talk Fuels Price Targets ETF chatter remains part of the ￰15￱ on market commentary from Ali Martinez, regaining the $0.27–$0.28 band could spark a quick push toward $0.45, with interim targets at $0.39. Martinez points to the brief breakout above $0.27 as a bullish signal, even if it did not hold for ￰16￱ many traders, ETF expectations are the catalyst that would turn near-term weakness into renewed ￰17￱ image from Unsplash, chart from TradingView