According to CoinDesk, the prices of two dog-themed meme coins, Dogecoin and Shiba Inu, briefly rose after Elon Musk tweeted about the death of Kabosu, the dog that inspired Dogecoin and Shiba Inu. Dogecoin rose 5% in the minutes after the tweet, reaching a session high of 17.3 cents, while Shiba Inu rose nearly 3% in the same period. However, the gains of both cryptocurrencies soon faded. Still, Dogecoin rose 6% and Shiba Inu rose 1% in the past 24 hours, outperforming most of the average CoinDesk 20 index. The event highlights Musk's influence on the meme coin market, and many cryptocurrency enthusiasts are speculating whether he is one of the largest holders of Dogecoin and may integrate the coin into a payment system. Kabosu, the representative of Dogecoin and several other meme coins, died early Friday at the age of more than 17, her owner wrote in a blog post.
