Recently, the DOGE market has shown some intriguing movements. After experiencing a strong rise last week, the DOGE price has undergone a noticeable pullback, with a decline of about 6.41% over the past eight days. However, this adjustment may present a rare opportunity for investors.

Market data shows that in the past 48 hours, large investors (commonly known as "whales") have consumed over 310 million DOGE, with a total value exceeding 73 million USD. These large-scale accumulations mainly come from wallets holding between 100 million and 1 billion DOGE. Since July 17, the total holdings of these large holders have increased to 25.42 billion DOGE. This concentrated accumulation behavior following a pullback in price historically often indicates a potential price rebound.

From a technical analysis perspective, DOGE has broken through the wedge formation that has lasted for several months and a 146-day rising channel, which may signal the beginning of a new pump. Currently, DOGE is testing the neckline of the double bottom pattern, and this key support level could become an important turning point before the price breaks out upward.

The formation of the double bottom pattern can be traced back to February of this year when DOGE fell below $0.25. Since then, the price has fluctuated between $0.1290 and $0.1430. If this pattern is confirmed, breaking the support level of $0.26 could push the price up to $0.46, with a potential rise of 115%.

Despite the current challenges faced by the overall cryptocurrency market, DOGE has still shown strong competitiveness in this market cycle. Some analysts predict that during the remaining market cycle, DOGE may rise at least 3 to 5 times, or even higher.

However, investors should be aware of the inherent high risks in the cryptocurrency market. Although DOGE shows potential for rise, market uncertainty still exists. Investors should fully understand the risks and conduct thorough research and analysis before making any investment decisions.