Dogecoin Price Surge and Drop After Kabosu’s Death, Musk’s Tweet
Release: 2024/05/25 04:24 Reading: 979
,Atsuko Sato, the doge’s owner, revealed the tragic news of her passing in a blog post. Dogecoin had two short-lived surges after this news. Around 1:40 a.m. ET, news broke of the death of the dog that sparked a meme, causing the initial price surge.
Kabosu is also known for being the face of Dogecoin, a cryptocurrency created as a joke to mock the wild speculation in cryptocurrencies at the time. Dogecoin is considered both the first “meme coin” and, more specifically, the first “dog coin”.
Early in the 2010s, a Shiba Inu-based meme gained popularity, which prompted the development of dogecoin in December 2013. Currently leading the pack in terms of market value, DOGE served as the model for numerous other well-known dog-themed memecoins.
The second rise happened at approximately 11 a.m. ET, when the most prominent memecoin supporter tweeted about Kabosu’s demise.
Dogecoin’s official X account posted on Friday, saying, “Today, Kabosu, our community’s shared friend and inspiration, peacefully passed, in the arms of her person. The impact this one dog has made across the world is immeasurable.”
The CEO of SpaceX, X, and Tesla, Elon Musk responded to the passing of Japanese Shiba Inu Kabosu on Friday, the day when the “doge meme” became viral.
Elon Musk posted a picture of a gorilla joining the Shiba joke. Musk posted on X, saying, “OG Doge has ascended to heaven to be with his friend Harambe.” The gorilla’s inclusion alludes to yet another chapter in online history.
pic.twitter.com/HAhqxoTcvi— Elon Musk (@elonmusk) May 24, 2024
In May 2016, a boy at the Cincinnati Zoo climbed into a gorilla enclosure and was dragged by Harambe. A zoo worker shot the 17-year-old gorilla, sparking internet memorials and memes.
As of publication, DOGE is trading at about $0.16, up 4.3% in the last day, based on pricing data from CoinMarketCap. Approximately $2.8 billion worth of doge has been exchanged throughout that time.
Also Read: 10 Best Dogecoin Casino & Gambling Sites in 2024
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