Thursday, 20 June 2024

Crypto News

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

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

  • Kabosu, the Shiba Inu behind Dogecoin (DOGE) has passed away at age 18.
  • Dogecoin’s price fell over 5% to $0.1535 following the news of Kabosu’s death.
  • Kabosu’s legacy endures through Dogecoin’s charitable 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 a shelter dog to the face of a viral crypto sensation

Kabosu’s journey from a 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 and 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 reveales 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…

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