Dogecoin’s Mascot Kabosu Dies, DOGE Drops 5%

Kabosu, the Shiba Inu dog that has served as the mascot for the leading memecoin project, Dogecoin (DOGE), has died. The Dogecoin team shared the news to the public on May 24. News about the dog’s death has sparked a price swing for the DOGE memecoin.

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.

She was a being who knew only happiness and limitless love.

Please keep her spirit and her family in…

— Dogecoin (@dogecoin) May 24, 2024

Kabosu Dies at 18

Kabosu was born on November 2, 2005. The female Shiba Inu dog was taken to the animal shelter after her puppy mill was closed down. In 2008, Atsuko Sato, a Japanese kindergarten teacher, adopted the Shiba Inu dog.

In December 2022, Kabosu was diagnosed with leukaemia, a cancer of the blood cells. Sato later confirmed that the Japanese dog was recovering. In January 2024, rumours spread that Kabosu was dead as a crypto user shared a Telegram conversation indicating the dog’s passing away. However, this claim was discarded days later as false information.

A blog post accompanying the Dogecoin team’s announcement revealed that a farewell party will be held on Sunday in Japan.

“We will be holding a farewell party for Kabo-chan on Sunday, May 26th . It will be held at Flower Kaori in Kotsu no Mori, Narita City, from 1pm to 4pm,” the blog stated.

Following news of Kabosu’s demise, DOGE’s price tanked by a mild 5% to a trading price of $0.158.

One Dog Inspires A Billion-Dollar Market

A viral picture of Kabosu was used as a logo in 2013 to create the first memecoin, Dogecoin. Despite starting as a joke (meme), investors embraced the Ethereum-based token and all it stood for. This dog coin paved the way for the inception of the memecoin market.

In recent years, thousands of dog-themed memecoin projects have been launched into the crypto market. Among them are Shiba Inu (SHIB), Bonk (BONK), Dogwifhat (WIF), and others. Current data shows that the memecoin market is valued at $60.1 billion.