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Ideas for Dogecoin Meme coin's $22.86 billion market value is Kabosu's legacy after his death.
May 24 was the quiet death of Kabosu, the first Shiba Inu dog and the inspiration for Dogecoin.
The $22.86 billion market capitalization of DOGE is a lasting legacy of the Dogecoin project.
Despite a 6% gain for the week, the price of DOGE fell by 1.5% on Friday.
The most valuable meme cryptocurrency by market value, Dogecoin (DOGE), was named after the beloved Shiba Inu dog Kabosu, who passed away early Friday morning following a courageous battle with leukemia and liver sickness. Kabosu became famous after being the inspiration for the "doge" meme.
DOGE maintained its 6% weekly gains and fell 1.2% on Friday after the announcement.
Kabosu, the Shiba Inu dog famous as the emblem of Dogecoin, the biggest meme currency by market value, gently died in the early hours of Friday, according to a blog post published by her owner. Dogecoin holders lament the passing of the original Doge meme dog.
The renowned dog who battled leukemia and liver problems for over two years before she passed away is mourned by DOGE holders.
On Friday, the market capitalization of DOGE, which was inspired by Kabosu, was roughly $22.86 billion.
On Friday, the price of DOGE retraces.
The price of DOGE fell from $0.16165, which is the 61.8% Fibonacci retracement level of the slide from the top of $0.2288 on March 28 to the low of $0.12010 on May 1. In the event that DOGE prices continue to decline, the $0.14740 and $0.12010 support levels from May 20 and May 1, respectively, would likely act as support.
The 50% Fibonacci retracement of the fall from March 28 to May 1 is $0.17449, which may be reached if DOGE closes above $0.16165.
According to the Moving Average Convergence Divergence indicator, DOGE is showing underlying positive momentum with green histogram bars. At the same time, the RSI is quite near to neutral at 51.97, which is the neutral zone.
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