- Dogecoin seems to be forming a head-and-shoulders pattern on its daily chart.
- A decisive daily candlestick close below the $0.29 support level could see DOGE drop by more than 50%.
- Only a break of the $0.40 resistance could save the meme-coin from the bearish outlook.
Dogecoin price seems to be trading on top of weak support, looking for buying pressure to rise.
Dogecoin price prime to retrace
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