Elon Musk Boosts Dogecoin (DOGE) with Viral Harambe Meme, Shaking Up Crypto X Market

• Elon Musk, a major fan of Dogecoin, has sent his eulogy to Kabosu, the dog that inspired the current memecoin revolution.
• The Shiba Inu dog breed, Kabosu, passed away at 17 today.
• The price of DOGE is on a rampage following Musk’s post on X.

Elon Musk pays tribute to Kabosu, the Shiba Inu that inspired Dogecoin, sparking a surge in DOGE prices.

Elon Musk on DOGE and Harambe

Of the many influential personalities in the crypto ecosystem, Elon Musk takes the lead as it relates to Dogecoin and other memecoins. The tribute post to Kabosu came with a meme featuring a Gorilla with angelic wings and the infamous DOGE mascot.

Elon wrote as a caption that “OG Doge has ascended to heaven to be with his friend Harambe.”

The story behind DOGE is one that is known by few in the crypto ecosystem. It inspired the creation of Dogecoin by Billy Markus and others in 2013. The legacy of the dog included bringing memes into the blockchain ecosystem in which the ecosystem has grown to be more valuable than $60.2 billion in market capitalization.

The story of Harambe featured in the post is not what many knew. Harambe is a Silver-back Gorilla that died on May 28, 2016, through a gunshot wound from the zookeeper. It happened that a 3-year-old boy visiting the zoo fell into Harambe’s enclosure. The aggressive animal thus dragged the boy, prompting the gunshot intervention from the zookeeper.

One intriguing similarity between Harambe and Kabosu is that they both died in May. Also, both Harambe and Kabosu lived for 17 years before their death.

The Bullish DOGE Reaction

Posts from Elon Musk regarding Dogecoin are known to generally fuel the growth of the digital currency. After a bearish start to the day, Dogecoin is now up by 3.43% to $0.1659 as it looks to reclaim the $0.2 price mark.

Different memecoin projects have been launched to commemorate the Harambe Gorilla. One of the most popular, Harambe on Solana, has soared by more than 11% to $0.06221 in line with the Elon Musk post.

Overall, the digital currency ecosystem including Shiba Inu (SHIB), FLOKI, and other industry leaders have also shared their tribute to the dead dog for its legacies. Another major reality check remains the tokenization of real-world assets on the blockchain. Many might consider the creation of Dogecoin an example of tokenization and the impact is summarized by the $23.8 billion market cap of Dogecoin.

Conclusion

Elon Musk’s tribute to Kabosu has not only honored the legacy of the Shiba Inu that inspired Dogecoin but also triggered a bullish reaction in the DOGE market. As the memecoin ecosystem continues to evolve, the influence of key figures like Musk remains evident. The tokenization of real-world assets, as exemplified by Dogecoin, underscores the transformative potential of blockchain technology in the financial landscape.