$DOGE has shown resilience in the face of a general sell-off in the crypto market. On Wednesday, most major altcoins fell against the backdrop of Bitcoin falling below $60,000, while Dogecoin bucked the trend and rose 0.4%. From the technical chart, Dogecoin is currently in a sideways phase, but there are some signs that it may usher in a rebound with a target price of $0.15. These signs include whale accumulation behavior and an upcoming breakout of the triangle pattern.

During the Iran-Iraq War, the price of Dogecoin fell from $0.132 to $0.1, a drop of 19%, and its market value also fell to $15.75 billion. This pullback formed a bearish trend within a symmetrical triangle pattern. Since June 2024, this pattern has formed dynamic resistance and support with two trend lines. In theory, this chart pattern indicates that the current trend may have a short-term correction, preparing for a subsequent breakout and continued movement.

If Dogecoin breaks below the 100-day and 200-day exponential moving averages in the near term, selling pressure could intensify, leading to a further 6% drop in price and a retest of the $0.1 support level. A reversal at this support level could extend the consolidation phase while providing an entry opportunity for buyers around $0.122.

On the other hand, if Dogecoin manages to break above the upper trendline in mid-October, buyers could push prices higher by the end of the month in an attempt to hit $0.15. In addition, according to Santiment, the number of wallets holding 1 million to 10 million DOGE is steadily increasing, with the current total holdings reaching 10.63 billion DOGE. This suggests that despite the large price fluctuations, large holders (whales) have been optimistic about the future potential of Dogecoin since October 2024. Historical data also shows that an upward trend in this indicator usually coincides with major market bottoms and potential reversal trends.