Dogecoin Forms Head and Shoulders Pattern, Price May Decline
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: Jan 09 2026- Market Reversal Signal: Dogecoin is forming a Head and Shoulders pattern on the 4-hour chart, which typically indicates a potential bearish reversal; if the price breaks below the critical support level of $0.14, it could lead to further declines, impacting investor confidence.
- High Open Interest: Despite the price drop, Dogecoin's futures open interest remains high at $1.78 billion, indicating that traders are still actively engaged in the market, which could lead to increased volatility and reflects ongoing uncertainty.
- Surge in Trading Volume: Over the past 24 hours, Dogecoin's trading volume has exceeded $1.2 billion, with a slight price increase of 0.97%, suggesting that investors are closely monitoring market dynamics and may be looking for rebound opportunities.
- Uncertain Price Trends: Currently priced at $0.140, Dogecoin has significantly fallen from its 2025 highs near $0.70, yet the sustained market interest may influence short-term price movements, necessitating cautious approaches from investors.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
