Dogecoin is exhibiting a bear flag pattern, suggesting a continuation of its downward trend. Key rejections occurred at the 61.8% Fibonacci retracement around 30 cents and again at the 0.236 Fibonacci level. The immediate downside target is to fill a wick around 10.02 cents. A break below this level is expected to trigger a capitulation, with a potential free fall to approximately 6 cents. To invalidate this bearish outlook, Dogecoin would need to reclaim the 17-cent level and push higher.