Dogecoin Breakdown Looms? Double-Top Pattern Flashes Red Alert

TL;DR DOGE confirmed a double top at $0.27, with bearish target matching the current $0.238 price ￰0￱ retest around $0.24–$0.25 holds, keeping breakout structure intact with resistance near $0.30. MVRV ratio rising but below peaks, suggesting DOGE remains mid-cycle with a target of $1.20. Double Top Formation Raises Bearish Concerns Dogecoin (DOGE) is trading at $0.24 after dropping 11% in the past 24 hours and 10% over the ￰1￱ decline follows a pattern flagged by analyst Merlijn The Trader, who said, $DOGE IS FLASHING A TEXTBOOK DOUBLE ￰2￱ retest ￰3￱ sits at $0.238. Don’t confuse noise with ￰4￱ chart is already telling the ￰5￱ — Merlijn The Trader (@MerlijnTrader) September 21, 2025 Notably, the setup formed as DOGE failed twice to break higher, before sliding under the neckline near $0.27.

A brief bounce back to that level was rejected, confirming the ￰6￱ on the measured move, the projected downside sits at $0.238, now reached by the ￰7￱ remains at $0.27, while a close above $0.28 would challenge the bearish ￰8￱ long as the price stays under the neckline, the chart points to ￰9￱ Retest Offers Counterpoint Analyst Trader Tardigrade pointed to a completed retest of a descending trendline that capped the price for ￰10￱ breakout above the line was followed by a pullback to $0.24–$0.25, where support held. Meanwhile, this level is now seen as a ￰11￱ DOGE remains above it, momentum could build toward $0.30. A move through that resistance would leave room for targets between $0.32 and $0.35, levels tested earlier in the year.) ratio is climbing but remains far from the overheated levels of past ￰12￱ Cryptollica said, ITS NOT OVER $DOGE MVRV Ratio Target 1: 1.20$ ￰13￱ — Cryptollica (@Cryptollica) September 21, 2025 DOGE has been moving between $0.20 and $0.25 since 2023, building a steady ￰14￱ MVRV still below historic extremes, the data suggests the asset may still be in a mid-phase of its cycle.