Dogecoin May Resume Climbing after an End of the Mourning for Kabosu
Dogecoin (DOGE) is down 4.8% to $0.1590 this week, performing worse than Bitcoin (BTC), which lost 0.7% to $68,000. DOGE prices stumbled after the death of Kabosu, the Shiba Inu dog whose quizzical expression became the face of the "doge" internet memes. Kabosu's image is featured on DOGE avatars, and the current decline in prices could be seen as a symbolic mourning for the iconic face of the cryptocurrency.
Once this period of mourning ends, prices may resume climbing towards the nearest resistance at $0.1800. This scenario is supported by technical analysis, which indicates that a rebound is likely. Further confirming this outlook, a significant investment was made by an investor who bought 2 million call options with a strike price of $0.2200 expiring on June 14.
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