Dogecoin to the Moon: Community Unveils Statue of Kabuso, Plans Documentary

Dogecoin is in the spotlight again, thanks to a new statue of the dog that inspired the meme.
The Dogecoin community is behind these ambitious projects, and their support is crucial to the coin's success.
Despite a recent dip in value, investors remain hopeful for a comeback.

In October, the crypto market remained relatively stable, unfazed by concerns over inflation and potential Federal Reserve rate hikes. The previous buzz surrounding the U.S. government shutdown has faded into the background, allowing meme coins to take center stage, particularly Pepe and Shiba Inu.

However, all eyes are currently fixed on Dogecoin. Here’s why.

Celebrating Kabuso

On Kabuso’s upcoming birthday in Sakura, Japan, a special statue will be unveiled, dedicated to the dog that inspired the iconic ‘Doge’ meme. This statue will find its home in a popular square frequented by Kabuso and its owners. This initiative comes from the Dogecoin NFT group known as ‘Own the Doge,’ renowned for their ambitious projects, such as sending a Doge NFT on a SpaceX mission.

Their aim is to serve as a central hub for Doge and meme enthusiasts. Notably, PleasrDAO, a group affiliated with ‘Own the Doge,’ actively engages in charitable causes.

Announcing THE Doge Documentary!

It’s FINALLY time to celebrate nearly 2 decades of #Doge & @Kabosumama

This will be the FIRST EVER feature length film about Doge when completed.

Here's a never-before-seen sneak peek: pic.twitter.com/cnTeMrwmpT
— tridog (@tridog) April 10, 2023

More exciting ventures

In addition to the statue project, the community is working on a documentary to showcase Kabuso’s life and the cultural impact of the Doge meme.

Also Read: Crypto Market Analysis: Shiba Inu (SHIB) And Dogecoin (DOGE) Prices Decline Following Selling Pressure At Key Resistance

Dogecoin (DOGE): More than Just a Meme

The lively community is creating a mysterious backdrop for Dogecoin, which has been crucial to its success. It’s one of the top 10 cryptocurrencies by market value, highlighting its importance in digital currency. While it’s experiencing a dip in value right now, investors remain hopeful for a comeback. Plus, with the ongoing meme craze, Dogecoin is expected to see a substantial rise, showing that its popularity and community support continue to be decisive factors in its growth.

What Next for Doge?

The future of Dogecoin’s price looks promising. After a dip in mid-September, the coin faced a downtrend and traded within a descending triangle for a while. It held above key support levels, showing bullish strength. Surprisingly, the Dogecoin price broke out of this pattern and is now supported by an ascending trendline. It was heading towards the key resistance level of $0.06459, which is expected to be tested soon.

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If the Bulls maintain momentum and the price surpasses this resistance, Dogecoin could trade bullishly, aiming for an upper resistance of $0.06706. If it continues to hold its value, the coin may target $0.06931 in the coming weeks.