Dogecoin inspiration Kabosu dies, leaving legacy of $22.86 billion market cap meme coin behind

Source Fxstreet
May 24, 2024 10:06
  • The original Shiba Inu dog Kabosu, who inspired Dogecoin, died peacefully in her sleep on May 24. 
  • The Dogecoin inspiration leaves behind a legacy of $22.86 billion market capitalisation of DOGE. 
  • DOGE price increased 6% this week, but declined nearly 1.5% on Friday. 

Kabosu, the popular Shiba Inu dog that inspired the logo of the largest meme coin by market capitalization, Dogecoin (DOGE), died early on Friday after losing her fight to leukemia and liver disease. Kabosu had gained popularity as the dog behind the viral “doge” meme. 

DOGE sustained its 6% gains from this week and dipped 1.2% on Friday following the news. 

Dogecoin holders mourn death of original Doge meme dog Kabosu

Kabosu, the Shiba Inu dog popular as the logo of Dogecoin – the largest meme coin by market capitalization – peacefully passed away in the early hours of Friday, according to a blog post written by her owner. 

DOGE holders mourn the loss of the iconic dog that fought leukemia and liver disease for nearly two years prior to her passing. 

Kabosu-inspired DOGE’s market capitalization is at around $22.86 billion on Friday. 

DOGE price retraces on Friday

DOGE price declined from $0.16165, the 61.8% Fibonacci retracement level of the decline from March 28 peak of $0.2288 to the May 1 low of $0.12010. In case of further falls, DOGE is likely to sweep support first at the May 20 low of $0.14740 and then the May 1 low of $0.12010. 

If DOGE closes above $0.16165, it could climb towards $0.17449, the 50% Fibonacci retracement of the March 28 to the May 1 decline. 

The green histogram bars on the Moving Average Convergence Divergence indicator signal the underlying positive momentum in DOGE. Meanwhile, the Relative Strength Index (RSI) reads 51.97, close to neutral at 50.

DOGE

DOGE/USDT 1-day chart

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Copper Long-term forecast: Will Copper Price Expected To Soar In 2023?The price of copper is affected by various of factors. You may wonder how the price of cooper will be in 2023, check out our forecast analysis.
Author  Mitrade
The price of copper is affected by various of factors. You may wonder how the price of cooper will be in 2023, check out our forecast analysis.
placeholder
Understanding the first crypto market crash of 2024 and what to expect nextThe 365-day MVRV ratio suggests that this crash may be just the beginning. If the ETF is rejected before the second quarter of 2024, it could trigger a sharp correction.
Author  FXStreet
The 365-day MVRV ratio suggests that this crash may be just the beginning. If the ETF is rejected before the second quarter of 2024, it could trigger a sharp correction.
placeholder
Natural Gas faces upside pressure as European traders prepare for next heating seasonNatural Gas (XNG/USD) prices are holding ground above $2.00 on Friday after a brief dip earlier this week. Gas prices are quickly recovering as mainland Europe is gearing up for the next heating season, with traders starting to negotiate contracts in
Author  FXStreet
Natural Gas (XNG/USD) prices are holding ground above $2.00 on Friday after a brief dip earlier this week. Gas prices are quickly recovering as mainland Europe is gearing up for the next heating season, with traders starting to negotiate contracts in
placeholder
Solana Empty Glasses: BEER Coin Fizzles 70% In Alleged Rug PullThe Solana blockchain has revealed a sobering story, adding to the turbulence in the bubbly world of memecoins, such as BEER. The coin rose to prominence in recent weeks, experienced a dramatic price
Author  NewsBTC
The Solana blockchain has revealed a sobering story, adding to the turbulence in the bubbly world of memecoins, such as BEER. The coin rose to prominence in recent weeks, experienced a dramatic price
placeholder
Tesla shareholders back Musk pay package, Adobe's outlook - what's moving marketsInvesting.com -- U.S. stock futures were mixed on Friday, after a streak of record high closes for the S&P 500 and Nasdaq Composite stretched into a fourth straight session. In a victory for Tesla (NA
Author  Investing.com
Investing.com -- U.S. stock futures were mixed on Friday, after a streak of record high closes for the S&P 500 and Nasdaq Composite stretched into a fourth straight session. In a victory for Tesla (NA
goTop
quote