Dogecoin (DOGE) price has dropped 26% from $0.1900, the highest level in May. Technical analysis suggests that DOGE may extend its decline due to the formation of a double top pattern. Whales offloading their tokens also increases the odds of this bearish forecast. Dogecoin Price Analysis Shows Double Top Pattern Could Extend Losses Technicals suggest that the DOGE price has more downsides this month. It has formed a double-top pattern at $0.2528, and a neckline at $0.2113. A double-top is a common bearish sign that signals that bulls are afraid of placing bullish trades above its upper side. Dogecoin price has crashed below the lower side of the neckline at $0.2113, its lowest point on May 17. It has also lost the support of the 50-day and 100-day Exponential Moving Averages (EMA). DOGE is also forming a tiny bearish flag pattern that could point to more sell-off in the next… Read More at Coingape.com
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