Dogecoin Price Surge and Drop After Kabosu’s Death, Musk’s Tweet

Dogecoin Rises After Passing of Kabosu, the Meme Icon

Atsuko Sato, the owner of the beloved Shiba Inu Kabosu, shared the tragic news of her passing in a blog post. Dogecoin experienced two brief surges following this announcement.

The Impact of Kabosu and Dogecoin

Kabosu gained fame as the face of Dogecoin, a cryptocurrency created as a satirical response to the rampant speculation in cryptocurrencies at the time. Dogecoin is widely recognized as both the first "meme coin" and the first "dog coin."

In the early 2010s, a Shiba Inu-inspired meme gained popularity, leading to the creation of Dogecoin in December 2013. Today, Dogecoin remains a prominent player in the market, inspiring numerous other dog-themed memecoins.

Market Reaction to Kabosu's Passing

The first surge in Dogecoin's price occurred around 1:40 a.m. ET, coinciding with the initial news of Kabosu's death. The second rise took place at approximately 11 a.m. ET, when a prominent memecoin supporter tweeted about the event.

Official Dogecoin Account's Tribute

Dogecoin's official account posted on Friday, stating, "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."

Elon Musk's Response

Elon Musk, CEO of SpaceX, Tesla, and , responded to the passing of Kabosu on Friday, the anniversary of the viral "doge meme."

Musk posted a picture of a gorilla joining the Shiba joke, referencing another online phenomenon. He tweeted on , "OG Doge has ascended to heaven to be with his friend Harambe."

Current Market Value of Dogecoin

As of publication, DOGE is trading at approximately $0.16, representing a 4.3% increase over the past 24 hours. Approximately $2.8 billion worth of Dogecoin has been traded during this period.