A Technical Look At Dogecoin's Chart

Dogecoin DOGE/USD is significantly lower over the past 24 hours. A part of the reason for the move lower is concerns over cryptocurrency taxes.

However, it was apparent on Monday that DOGE was in a bubble. It formed a reversal pattern, which means that even without the news, there was a significant chance DOGE would have moved lower anyway.

Despite the large sell-off, there’s a good chance it continues to trend lower. Most bubbles end up where they started, which would be 5 cents in this situation.

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