Cardano (ADA) Founder and Elon Musk's Dogecoin (DOGE) Tweets Caused Huge Price Fluctuations!

Charles Hoskinson, founder of Cardano, expressed his condolences via social media on the death of Kabosu, the Shiba Inu dog that inspired the #Dogecoin meme. In a heartfelt tweet, Hoskinson shared a GIF that read, “I was your friend and I will always be your friend,” and added, “Doge to Bitcoin.” This commemoration resonated deeply in the crypto community, revealing the significant impact Kabosu has left in the digital currency world.

Kabosu, the face of the #Doge meme, became an internet sensation in the early 2010s, leading to the creation of Dogecoin in December 2013. Dogecoin quickly rose to become the largest meme coin by market cap and inspired many other dog-themed cryptocurrencies. Kabosu's skeptical outlook has become an icon of internet humor, bringing diverse communities together and bringing joy to many people around the world. Recent tributes from leading figures in the crypto space highlight the enduring legacy of this iconic meme.

The news of Kabosu's death had a significant impact on the price of Dogecoin. The first price spike occurred at 1:40 a.m. as the news spread, followed by another spike around 11 a.m. when Elon Musk tweeted about Kabosu's death. These fluctuations reveal how sensitive meme coins are to social media activity and the influence of high-profile individuals.

Tesla, X and #SpaceX CEO Elon Musk showed his respect for Kabosu by sharing an image containing a Shiba Inu and the famous Harambe gorilla. Musk's tweet included the statement, "OG Doge went to heaven to join his friend." This tweet not only commemorated Kabosu, but also triggered a significant backlash in the Dogecoin market. This incident once again reveals the powerful role social media and influencers play in the cryptocurrency market.
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