The post Dogecoin drops as DOGE community bids ‘Kabosu’ farewell appeared on BitcoinEthereumNews.com.

Dogecoin’s price fell following the news of Kabosu’s passing, reflecting the sentimental impact. A memorial for Kabosu is planned, highlighting her significant influence in the cryptocurrency sector. Kabosu, the Shiba Inu dog whose curious expression sparked the meme that gave rise to Dogecoin [DOGE], has passed away. The iconic image that launched a thousand memes was first shared by Kabosu’s owner, Atsuko Sato, in 2010 on her personal blog. The photograph, which captured Kabosu’s peculiar, skeptical look, quickly resonated with internet users worldwide.  Accompanied by humorous, misspelled captions in Comic Sans, the image of Kabosu evolved into the “Doge” meme, embedding itself deeply into internet culture. The meme eventually inspired the creation of Dogecoin in 2013. Initially conceived as a joke, the cryptocurrency adopted Kabosu’s visage as its logo, symbolizing the light-hearted spirit of the project.  Despite its comedic origins, Dogecoin gained substantial traction and utility, supporting various charitable causes and sporting events. It became the progenitor of a new category of digital assets known as memecoins, influencing other major tokens like Shiba Inu and Floki. How is Dogecoin handling the loss? Following the announcement of Kabosu’s passing on 24th May, Dogecoin experienced a notable downturn in its market price, with a 6.2% decrease over the last 24 hours, positioning the price at $0.1568.  This recent fluctuation occurred amidst broader discussions within the community about the memecoin’s future and its role in the crypto ecosystem. Kabosu’s death marks not just the end of an era for the Dogecoin community but also casts reflections on the volatility and sentimental value driving the memecoin sector. Source: Santiment Meanwhile, looking into Dogecoin’s notable metrics, market data from Santiment revealed a significant drop price volatility from its peak in March, indicating a stabilization in its trading patterns. While decreased volatility might suggest a maturing…

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Filed under: News - @ May 25, 2024 1:10 am