TL;DR
- DOGE confirmed a double prime at $0.27, with bearish goal matching the present $0.238 value zone.
- Trendline retest round $0.24–$0.25 holds, preserving breakout construction intact with resistance close to $0.30.
- MVRV ratio rising however beneath peaks, suggesting DOGE stays mid-cycle with a goal of $1.20.
Double Prime Formation Raises Bearish Considerations
Dogecoin (DOGE) is buying and selling at $0.24 after dropping 11% prior to now 24 hours and 10% over the week. The decline follows a sample flagged by analyst Merlijn The Dealer, who mentioned,
$DOGE IS FLASHING A TEXTBOOK DOUBLE TOP.
Bearish retest locked. Goal sits at $0.238.
Don’t confuse noise with sign.
The chart is already telling the reality. pic.twitter.com/GJ32G2kniw
— Merlijn The Dealer (@MerlijnTrader) September 21, 2025
Notably, the setup fashioned as DOGE failed twice to interrupt larger, earlier than sliding underneath the neckline close to $0.27. A short bounce again to that degree was rejected, confirming the breakdown. Based mostly on the measured transfer, the projected draw back sits at $0.238, now reached by the value.
Resistance stays at $0.27, whereas a detailed above $0.28 would problem the bearish case. So long as the value stays underneath the neckline, the chart factors to weak point.
Trendline Retest Presents Counterpoint
Analyst Dealer Tardigrade pointed to a accomplished retest of a descending trendline that capped the value for months. The breakout above the road was adopted by a pullback to $0.24–$0.25, the place help held.
In the meantime, this degree is now seen as a base. If DOGE stays above it, momentum may construct towards $0.30. A transfer by that resistance would depart room for targets between $0.32 and $0.35, ranges examined earlier within the yr.
As well as, Dealer Tardigrade additionally shared an Ichimoku replace. They noted,
“No bearish Ichimoku alerts; standing stays bullish.”
DOGE trades above each the Kumo cloud and the Kijun-sen line, with help at $0.24770 and deeper help between $0.21517 and $0.22214.
All main indicators keep an upward bias. The cloud is inexperienced, value motion holds above the Kijun-sen, and the Chikou span is above the value. These preserve the short-, mid-, and long-term tendencies aligned and heading in a bullish route.
MVRV Suggests Room for Progress
On-chain knowledge provides one other angle. The Market Worth to Realized Worth (MVRV) ratio is climbing however stays removed from the overheated ranges of previous peaks. Analyst Cryptollica mentioned,
ITS NOT OVER $DOGE
MVRV Ratio
Goal 1: 1.20$ pic.twitter.com/a3NIGbKrIp
— Cryptollica⚡️ (@Cryptollica) September 21, 2025
DOGE has been transferring between $0.20 and $0.25 since 2023, constructing a gentle base. With MVRV nonetheless beneath historic extremes, the information suggests the asset should be in a mid-phase of its cycle.
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