- Kabosu, the Shiba Inu who inspired the “Doge” meme and Dogecoin, passed away peacefully on May 24 at 18 years old.
- A farewell party for Kabosu, also known as “Kabo-chan,” will be held on May 26 at Flower Kaori in Narita City.
- Analysts predict DOGE might drop initially but could rally due to strong emotional ties within the community.
Discover the impact of Kabosu’s passing on Dogecoin and the broader crypto market, along with insights from analysts and community reactions.
Kabosu’s Legacy and the Birth of Dogecoin
Kabosu first garnered attention in 2010 when her owner, Atsuko Sato, posted photos of her on her blog. One particular image, showing Kabosu with a skeptical and curious expression, quickly went viral. This image became the “Doge” meme, often accompanied by phrases in broken English and Comic Sans font. By 2013, Dogecoin was created, using Kabosu’s image as its official logo. Initially intended as a joke, Dogecoin evolved into a popular cryptocurrency. It has been involved in several charitable initiatives, including funding for clean water projects and the Jamaican bobsled team.
Community Reactions and Market Predictions
The crypto community and Kabosu’s fans have expressed their condolences. Tributes and favorite memories of the internet legend have flooded social media. In December 2022, Sato informed the community about Kabosu’s health issues, prompting an outpouring of support. Dogecoin co-creator Billy Markus, also known as Shibetoshi Nakamoto, asked his followers to support Kabosu. One user even offered to cover any expenses for her treatment. Following Kabosu’s passing, analysts predict a market reaction. According to Altcoin Sherpa, a crypto analyst, DOGE might experience a drop but could also spur a bullish sentiment. This could lead to Dogecoin rallying to $1. Despite the initial drop, the community’s strong emotional connection to Kabosu could drive a positive market response.
Broader Implications on the Crypto Market
Kabosu’s impact has extended beyond cryptocurrency, even influencing political campaigns. For instance, U.S. President Joe Biden’s reelection campaign hired a “master of memes.” This role involves managing relationships with digital media companies, podcasts, and meme pages on social media. In the wake of Kabosu’s passing, Dogecoin and Shiba Inu’s market performance has been impacted. Shiba Inu’s (SHIB) price has fallen 6.79% in the daily charts, 4.42% in the weekly charts, and 12.28% over the past month. Dogecoin (DOGE) has fallen 5.7% in the daily charts but is up 2.45% over the previous week.
Conclusion
Kabosu’s legacy as the face of the “Doge” meme and Dogecoin will continue to influence the crypto community and beyond. While her passing may initially impact Dogecoin’s market performance, the strong emotional bond within the community could foster a positive rally. The broader implications on the crypto market and even political campaigns underscore Kabosu’s significant influence. As the community gathers to bid farewell to Kabosu, her impact will undoubtedly be remembered for years to come.
