Regarding whether Dogecoin can break through $0.15 in October, market observations show the following:
Whenever the price of Bitcoin falls to around $60,000, market sentiment tends to become nervous, investors tend to sell, and many altcoins are affected and fall. However, Dogecoin has shown relative resilience in this wave of selling, and even achieved a small increase of 0.4%. Although the increase seems insignificant, it is worth noting that some large investors (known as "big whales") are quietly increasing their holdings of Dogecoin. At the same time, the symmetrical triangle pattern on the technical chart is about to be broken, which may indicate that Dogecoin is about to rebound, and the target price may be $0.15.
Looking back at the trend of Dogecoin, it has fallen from $0.132 to $0.1, and its market value has shrunk to $15.74 billion. Observing from the daily chart, this pullback presents a symmetrical triangle pattern that is common in bear market cycles. Since June 2024, the price of Dogecoin has been fluctuating between the two boundary lines of this pattern, sometimes suppressed by resistance and sometimes supported. Theoretically, this pattern could temporarily change the current trend, and once the boundary line is broken, the price movement may become stronger.
However, the price of Dogecoin has recently fallen below the 100-day and 200-day moving averages, which may increase the selling pressure and cause the price to fall further to the psychological defense line of $0.1 for testing. But if it rebounds from this price, the consolidation phase may be extended, and buyers have the opportunity to enter the market around $0.122.