Dogecoin Price Prediction: As The Shiba Inu DOGE Dog Kabosu Dies, This 2.0 DOGE Gets Ready For Launch After $15M ICO – Reincarnation?
Release: 2024/05/24 23:04 Reading: 350
Dogecoin Price Drops Amidst Market Sell-Off, Consolidation Phase Emerges
The Dogecoin (DOGE) price has experienced a decline of over 3% within the past 24 hours, currently trading at $0.1633 as of 8:00 a.m. EST, as investors opt to sell their holdings in the meme coin.
Kabosu's Passing and Dogecoin's Tribute
The DOGE price slump coincides with the news of the passing of Kabosu, the Shiba Inu featured in the cryptocurrency's logo. The beloved dog passed away peacefully at approximately 18 years of age. The crypto community has expressed their gratitude for Kabosu's significant role in the development of the meme coin sector.
Dogecoin Price Consolidation and Technical Analysis
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The Dogecoin price has entered a short-term consolidation channel between $0.1542 and $0.1639. This sideways trading could indicate an accumulation period prior to a potential surge. A breakout above $0.1639 may signal the beginning of an upward trend.
Conversely, a decline below $0.1542 could invalidate the bullish scenario, leading to potential short positions. In this case, DOGE may drop to the next support level at $0.1458.
Technical indicators suggest a neutral outlook for the Dogecoin price, with a slight bearish bias. The Relative Strength Index (RSI) is at 49.77, indicating a balanced probability of upward or downward movement. The Moving Average Convergence Divergence (MACD) shows a bearish trend, with the MACD line below the MACD Signal line.
Rise of Dogeverse (DOGVERSE) Amidst Dogecoin's Decline
As the crypto community mourns the loss of a meme legend, investors are flocking to Dogeverse (DOGVERSE), a presale meme coin poised for launch.
Dogeverse: A Cross-Chain Meme Coin with Utility
Dogeverse is unique among meme coins due to its presence on multiple blockchain networks, enabling seamless value transfer across chains. Additionally, DOGVERSE investors can participate in high-yield DeFi opportunities on various chains, including Avalanche, Polygon, BNB Chain, Ethereum, Solana, and Base.
Presale Nearing Completion
Over $15 million has been raised in Dogeverse's presale, with less than nine days remaining before its closure on June 3rd, 10 a.m. UTC. Claims will go live two days later. Investors can purchase DOGVERSE using SOL, AVAX, ETH, BNB, MATIC, or BASE, as well as USDT or bank cards.
For enhanced returns, investors are encouraged to use ETH for purchases, which allows for staking with an APY of 51% on the Ethereum blockchain.
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