Dogecoin Drops After Death of Meme Dog Kabosu


Kabosu, the Japanese Shiba Inu that inspired the iconic “Doge” meme, has passed away.

Kabosu, the Japanese Shiba Inu that inspired the iconic “Doge” meme, passed away at 18. On Friday, her owner, Atsuko Sato, announced that Kabosu “fell into a deep sleep” that morning. In a heartfelt blog post, Sato described the serene moment of Kabosu’s passing: “Outside the window, birds were singing on a beautiful morning. As I was touching her, she gently passed away.”

Kabosu was not just a meme; she was a rescue dog who brought joy and humor to millions globally. According to Sato, Kabosu was the happiest dog in the world.

The Japanese Shiba Inu

In 2010, Atsuko Sato shared a photograph of her dog Kabosu on her blog, unknowingly launching a meme that would captivate the internet. The image, featuring Kabosu’s peculiar, skeptical expression, quickly resonated with users worldwide. Paired with humorous, misspelled captions in Comic Sans, it evolved into the iconic “Doge” meme, embedding itself deeply into internet culture.

The “Doge” meme motivated the creation of Dogecoin in 2013. Originally conceived as a joke, the cryptocurrency adopted Kabosu’s image as its logo, embodying the project’s light-hearted spirit. Despite its comedic beginnings, Dogecoin gained significant traction and utility, supporting various charitable causes and sporting events. It also paved the way for a new category of digital assets known as memecoins, influencing other major tokens like Shiba Inu and Floki.

Kabosu’s Death Impact on DOGE

Following the announcement of Kabosu’s passing on May 24, Dogecoin experienced a notable market downturn, with its price decreasing by 6.2% over the last 24 hours, settling at $0.1568 at the time of writing. This fluctuation has sparked broader discussions within the community about Dogecoin’s future and its role in the crypto ecosystem.

Market data from Santiment reveals a significant drop in Dogecoin’s price volatility since its peak in March, indicating a stabilization in its trading patterns. While this decreased volatility might suggest a maturing market, it diverges from the traditionally erratic price movements expected of a memecoin.

Additionally, data from IntoTheBlock shows that the majority of Dogecoin holders are currently profiting, with 83% in the green. Meanwhile, 13% are experiencing losses, and 4% are breaking even at current market prices.