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Dogecoin (DOGE) price jumps on Elon Musk’s tribute to Kabosu

By:
on May 24, 2024
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  • The popular canine that inspired DOGE died on May 24.
  • The memecoin gained over 5% following Musk’s post about the late Kabosu.
  • Dogecoin’s trading volume soared 80% over the past day.

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Tesla CEO Elon Musk took to X to pay tribute to the late Kabosu, the beloved Shiba Inu dog that inspired Dogecoin (DOGE), who died earlier today.

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Musk’s post featured the Harambe gorilla hugging Kabosu in the clouds. The SpaceX chief stated, 

“OG Doge has ascended to heaven to be with his friend Harambe.”

Harambe the gorilla became an internet sensation in 2016 as it lost its life in the hands of a zoo keeper after grabbing a kid who entered the fence. 

The event caught the online community, with trends like #Justiceforharambe flooding the web. 

Meanwhile, Kabosu went viral in 2010 after her owner posted several photos of the Shiba Inu dog. One image led to Dogecoin’s creation in 2013. 

DOGE began as an internet meme before growing into one of the top digital assets in the cryptocurrency world. 

The altcoin ranks 8th in the crypto list, with its market capitalization above $23.87 billion. 

Dogecoin’s current price outlook

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The memecoin reacted to Musk’s post with a sudden spike, surging more than 5.10% to trade at $0.1651.

DOGE 1D Chart on Coinmarketcap

Moreover, DOGE’s 24-hour volume jumped 79% to $3.37 billion, reflecting massive trader activity. 

The Tesla billionaire has been crucial in the crypto community, and frequent Dogecoin-related posts propelled the token to all-time highs in 2021.

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