- Dogecoin (DOGE) is trading at $0.16659, reflecting a 0.50% increase, which may indicate a bullish Dogecoin price prediction.
- This comes as the internet mourns the loss of Kabosu, the Shiba Inu behind the iconic “Doge” meme, who passed away at the age of 18.
- In November, a $100,000 statue of Kabosu was unveiled in a park in Sakura, crowdfunded by Own The Doge, a crypto organization.
Dogecoin price prediction as Kabosu, the Shiba Inu from the original Doge meme, passes away. Will DOGE skyrocket soon?
Farewell to Kabosu: The Iconic Doge Meme Shiba Inu Passes Away at 18
Kabosu, the Shiba Inu that inspired the famous “Doge” meme and Dogecoin cryptocurrency, passed away on May 24 at the age of 18. Kabosu, known for her iconic internet presence, had been battling leukemia and liver disease.
Her owner, Atsuko Sato, shared the news on her blog, mentioning that Kabosu passed away peacefully while being caressed. Sato adopted Kabosu as a rescue dog in 2008.
In 2010, Sato posted a picture of Kabosu with crossed paws on the sofa, which quickly became a viral meme on Reddit. This image symbolized Shiba Inus’s inner thoughts in broken English. The meme later became an NFT, selling for $4 million, and inspired Dogecoin, a cryptocurrency now worth $23 billion.
Dogecoin has gained attention from celebrities like Snoop Dogg, Gene Simmons, and Elon Musk, who often promotes it on social media. Kabosu’s health had been a concern since late 2022, but Sato credited the support and prayers from fans worldwide for helping her through difficult times.
Dogecoin Price Prediction
Dogecoin (DOGE) is trading at $0.16659, reflecting a 0.50% increase, signalling the chances of a bullish Dogecoin price prediction. The pivot point at $0.1658 is a crucial level for determining the market’s direction. Immediate resistance levels are identified at $0.1708, $0.1746, and $0.1788, suggesting potential targets if bullish momentum persists. On the downside, immediate support is found at $0.1625, followed by $0.1575 and $0.1516, providing key levels to watch if the price faces selling pressure.
The Relative Strength Index (RSI) is currently at 50, indicating a neutral stance with neither overbought nor oversold conditions. The 50-day Exponential Moving Average (EMA) is positioned at $0.1634, with the current price trading above this level, suggesting a bullish trend in the short term.
Given the current technical setup, the upward channel supports the likelihood of continued buying above the $0.1665 level.
Key Points:
- Dogecoin trading at $0.16659, up 0.42%, pivot point at $0.1658.
- RSI at 50, indicating a neutral stance; immediate support at $0.1625, resistance at $0.1708.
- Bullish above $0.1658; break below this level can drive a sharp selling trend.
The strategy would be to maintain a bullish outlook above the pivot point at $0.1658, with a focus on potential gains towards the immediate resistance levels. However, a break below this pivot could trigger a sharp selling trend, making it essential to monitor these key levels closely.
Conclusion
The passing of Kabosu, the Shiba Inu behind the iconic Doge meme, marks the end of an era in internet culture. However, her legacy continues through the ongoing popularity of Dogecoin and its impact on the cryptocurrency market. With Dogecoin showing signs of a bullish trend, investors should keep a close eye on key technical levels to make informed trading decisions. The future of Dogecoin remains promising, driven by strong community support and celebrity endorsements.
