After Kabosu’s death, Dogecoin price plummets and falls. Elon Musk tweets

Dogecoin ( viceroy

+1.34%
) has since seen several brief spikes. death of inspiration.

The first price spike occurred around 1:40 a.m. ET, around the time news of the dog that started the meme passed away.

“Today, Kabosu, a shared friend and inspiration to our community, passed away peacefully in her arms,” dogecoin’s official X account wrote on Friday. “The impact this dog has had on the world is immeasurable,” she said.

Shiba Inu-based memes went viral in the early 2010s, which led to the creation of dogecoin in December 2013. DOGE is currently the largest memecoin by market capitalization and has inspired several other major dog-themed memecoins.

The second spike occurred around 11 a.m. ET, when perhaps Memcoin’s best-known supporter tweeted about Kabosu’s death.

Elon Musk, CEO of Tesla, X (formerly Twitter) and SpaceX, tweeted an image of a Shiva meme with a gorilla. “OG Doge has ascended to heaven to be with his friend Harambe,” Musk wrote on X. The inclusion of the gorilla points to another part of Internet history.

In May 2016, a young boy visiting the Cincinnati Zoo climbed under a fence into the outdoor gorilla area and was violently dragged away by Harambe. A zoo worker shot and killed a 17-year-old gorilla, sparking numerous internet memorials and memes.

Musk is the richest person in the world, and his frequent activities helped Dogecoin surge to all-time highs in the summer of 2021. tweet and guarantee of Memecoin. In December 2023, Musk said he spends ‘very little’ time thinking about cryptocurrencies.

DOGE is trading around $0.17 at the time of publication, up 3.8% in the last 24 hours. Pricing data from The Block. Approximately $2.8 billion worth of Viceroy was traded during that period.

Related tokens such as Shiba Inu (SHIB) and FLOKI (FLOKI) also briefly surged on the news.

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