Dogecoin (DOGE) price takes a bow as Shiba Inu Kabosu dies

Kabosu, the Shiba Inu Behind Dogecoin (DOGE), Passes Away at 18 **

Dogecoin's Price Dips Following the News **

Kabosu's Legacy Endures Through Dogecoin's Impact and Community Tributes **

In a poignant moment for the cryptocurrency community, Kabosu, the Shiba Inu dog that inspired the iconic Dogecoin (DOGE) meme, has passed away at the age of 18.

The news, announced by her owner Atsuko Sato on May 24, 2024, has reverberated across the globe, sparking a wave of condolences and reflections on Kabosu's remarkable impact on internet culture and the crypto world.

From Shelter Dog to the Face of a Viral Crypto Sensation

Kabosu's journey from shelter dog to the face of a viral sensation began in 2010 when Sato posted photos of her newly adopted pet online.

One image, capturing Kabosu's skeptical yet curious expression, quickly went viral, giving birth to the "Doge" meme. Accompanied by humorous, broken English phrases, this meme became a staple of internet humor and eventually the official logo of Dogecoin (DOGE) cryptocurrency.

Over the years, Dogecoin has transcended its meme origins, contributing to various philanthropic causes, such as funding clean water projects and sponsoring the Jamaican bobsled team. Kabosu's image became a symbol of these efforts, reinforcing the positive social impact of the Dogecoin community.

Impact on Dogecoin (DOGE) Price

The death of Kabosu has not only evoked emotional responses but has also influenced the financial markets, specifically the crypto market.

Following the announcement, Dogecoin's price dipped over 5%, trading at $0.1535. Although it has slightly recovered, Dogecoin (DOGE) price was still about 3% down at $0.1627.

Shiba Inu (SHIB), another Shiba inu-themed meme coin, also experienced a similar downturn, dropping 5.5% to $0.00002422, highlighting the deep connection between the sentiment surrounding Kabosu and the performance of related cryptocurrencies.

Amid the DOGE price decline following Kobosu's death, data from IntoTheBlock reveals a surge in large DOGE transactions, with the value of significant trades more than doubling to $3.01 billion within 24 hours. Additionally, a dormant Dogecoin whale holding 893,303 DOGE became active after a decade, transferring a portion of their holdings to Binance.

Dogecoin Community Mourns Kabosu's Loss

The Dogecoin community has been vocal in their tributes. The official Dogecoin account on Twitter acknowledged Kabosu's profound global impact, describing her as a source of happiness and limitless love:

"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. She was a being who knew only happiness and limitless love. Please keep her spirit and her family in..."

Many in the Web3 community, including Kabosu's owner, have also shared their condolences, underscoring Kabosu's role in fostering a lighthearted and charitable spirit within the crypto sector.

Kabosu's farewell party is scheduled for May 26 in Narita City, Japan.

As the world bids adieu to this beloved Shiba Inu, her spirit and the joy she brought will undoubtedly continue to inspire and shape the digital landscape for years to come.