- *Tribute to Kabosu*: Elon Musk posted a tribute to Kabosu, the Shiba Inu dog behind the Dogecoin meme, after she passed away at 17 years old. The image featured Harambe, a gorilla who was tragically killed in 2016 and became a meme icon, hugging Kabosu among clouds with an ethereal glow.
- *Price Spike*: Following Musk's post, Dogecoin (DOGE) surged over 5% to a session high of 17.3 cents, while Shiba Inu (SHIB) jumped nearly 3%. Although the gains were short-lived, DOGE was up 6% and SHIB gained 1% over the past 24 hours.
- *Musk's Influence*: The price action highlights Musk's significant sway over memecoins. His tweets and appearances have consistently influenced the price of Dogecoin, with many speculating he might be behind one of the largest dogecoin holders.
- *Meme Coin History*: Dogecoin, launched in December 2013, remains the number-one meme coin with a market capitalization of $24.3 billion. Its price spiked in March when Musk suggested Tesla might allow customers to buy electric cars with the meme coin.
- *Legacy of Kabosu*: Kabosu inspired countless memes and meme coins, including Dogecoin, Shibu Inu, Dogwifhat, and Bonk. Harambe also inspired memes and an online movement after his death in a Cincinnati Zoo.
Here are the latest updates on Dogecoin ¹:
- *Price*: The price of Dogecoin is $0.16318706. This is a change of 0.83% over the past 24 hours.
- *Market Capitalization*: The recent price action in Dogecoin left the tokens market capitalization at $23.57B.
- *Yearly Change*: So far this year, Dogecoin has a change of 83.78%.
- *Blockchain*: Dogecoin’s blockchain operates using a proof-of-work consensus mechanism, the same system Bitcoin uses for network participants to reach an agreement on the data being added to the blockchain.