Elon Musk’s Tribute to Kabosu Sparks Dogecoin (DOGE) Price Surge

<ul>
  <li>Dogecoin (DOGE) price climbed on Friday after the passing of Kabosu, the Shiba Inu who inspired the meme cryptocurrency.</li>
  <li>Dogecoin’s official account on X announced, “Today, Kabosu, our community’s shared friend and inspiration, peacefully passed, in the arms of her person.”</li>
  <li>Elon Musk’s frequent endorsements have historically influenced Dogecoin’s price, propelling it to all-time highs in the summer of 2021.</li>
</ul>
<p><strong>Elon Musk mourns Kabosu, Dogecoin responds with price jump. Discover how the passing of the iconic Shiba Inu has impacted the cryptocurrency market.</strong></p>
<h2><strong>Elon Musk's Influence on Dogecoin's Price</strong></h2>
<p>Elon Musk’s tweet featuring an image of the Shiba meme alongside a gorilla, referencing another internet icon, Harambe, significantly impacted Dogecoin’s price. Musk wrote, “OG Doge has ascended to heaven to be with his friend Harambe,” linking two major viral phenomena. Following this, DOGE traded around $0.17, up 3.8% over the past 24 hours, with about $2.8 billion worth of Dogecoin traded during that period.</p>
<h3><strong>Historical Impact of Musk's Endorsements</strong></h3>
<p>Elon Musk’s frequent endorsements have historically influenced Dogecoin’s price, propelling it to all-time highs in the summer of 2021. Despite claiming in December 2023 that he spends “hardly” any time thinking about cryptocurrency, Musk’s influence remains significant. His tweets and public statements often lead to immediate and substantial price movements in the cryptocurrency market.</p>
<h2><strong>Kabosu's Legacy and Impact on Memecoins</strong></h2>
<p>Kabosu, who was over 17 years old, became a beloved internet icon through her viral meme picture, which inspired the creation of Dogecoin. Her passing marks the end of an era for one of the most influential memes in internet history. Dogecoin, which began as a joke currency, has since become the largest memecoin by market capitalization and inspired a plethora of other dog-themed tokens. Other dog-themed tokens, including Shiba Inu (SHIB) and FLOKI (FLOKI), also saw brief spikes in response to the news.</p>
<h3><strong>Community's Response to Kabosu's Passing</strong></h3>
<p>Dogecoin’s official account on X announced, “Today, Kabosu, our community’s shared friend and inspiration, peacefully passed, in the arms of her person.” Kabosu’s influence on the world and the cryptocurrency community was profound, having been the face of the viral meme that led to Dogecoin’s creation in December 2013. Kabosu’s owner announced a farewell party to be held on Sunday, May 26, at Flower Kaori in Kotsu no Mori, Narita City.</p>
<h3><strong>Conclusion</strong></h3>
<p>The passing of Kabosu has undeniably left a significant mark on the cryptocurrency community, particularly among Dogecoin enthusiasts. Elon Musk's tweet further amplified the impact, leading to a noticeable price jump for DOGE. As the community mourns the loss of an iconic figure, the legacy of Kabosu continues to influence the world of memecoins and the broader cryptocurrency market.</p>