It is a gloomy day in the Dogecoin (DOGE) ecosystem as Kabosu, the face behind the popular memecoin, passed away on the morning of May 24. According to the owner, the dog was about 18 years old and has served the Dogecoin ecosystem for more than half of its lifetime.
Kabosu Pioneered the Rise of Dog-themed Memecoins
The news of Kabosu’s death was posted on the official DOGE X account.
“Today, Kabosu, our community’s shared friend and inspiration, peacefully passed, in the arms of her person. The impact this one dog has made across the world is immeasurable.”
Other affiliated memecoin projects have also shared their tributes to Kabosu.
Rest in peace, KABOSU. We will march on and continue the legacy you created. pic.twitter.com/6znkYKhjrr
— FLOKI (@RealFlokiInu) May 24, 2024
Kabosu, Shiba Inu’s iconic meme, became popular in the early 2010s, eventually leading to the establishment of DOGE in 2013. In the years that followed, the dog-themed memecoin became a mainstay in the crypto ecosystem and further climbed to the position of the largest memecoin by market capitalization.
It wasn’t long after that other dog-themed digital assets like SHIB and FLOKI entered the scene.
Dogecoin and Others See Increasing Adoption
Quite a number of these memecoins have been widely adopted in several ecosystems. There are speculations at the moment about Dogecoin’s integration as an official currency on the social media platform X. Elon Musk, the owner of X is yet to make any official statements about this speculation but optimism is building up in the Dogecoin ecosystem.
Similarly, Donald Trump, the Republican Presidential candidate in this year’s upcoming United States election, recently announced his campaign’s acceptance of SHIB and DOGE in political donations. These developments suggest growing use cases for Dogecoin and the broader memecoin market which currently has a total market capitalization of over $60 billion.
CoinMarketCap data shows that about $2.87 billion worth of Dogecoin was traded in the last 24 hours. Within this same period, the memecoin price has seen a 3.20% drop in value and currently trades at $0.1604.
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