Kabosu dies: World mourns Elon Musk's Dogecoin dog

Kabosu, the darling Japanese Shiba Inu dog, who became the primary inspiration for the iconic “doge” meme and gave her fluffy face to Tesla-owner Elon Musk's cryptocurrency Dogecoin, has died at the age of 18, her owner, Atsuko Sato, broke the news on Friday on her Instagram.

Following the news, DOGE fell 1.2% on Friday; however, it maintained its 6% gains from the week.

Kabosu was adopted by Sato from a dog shelter in 2008. Things became pretty wild after a photo of Kabosu with a whimsical smirk on her face and paws crossed took Reddit and Tumblr by storm for its cuteness overload.

“She quietly passed away as if asleep while I caressed her,” the dog’s owner Atsuko Sato, a kindergarten teacher from the city of Sakura in Japan, wrote on Friday.

This image, often captioned in broken English and Comic Sans font, stirred up the “doge” meme trend. By 2013, this adorable picture was eternalised as the official logo of Dogecoin, the joke of a cryptocurrency that later became a serious player.

Following the demise of the Kabosu, Sato posted a heartfelt poem on her blog and Instagram on May 24. It was an obituary loaded with her deep sorrow and love for the cherished departed pet.

A farewell party will be held on May 26 at Flower Kaori in Kotsu no Mori, Narita City in Kabosu's memory, according to the blogpost. Sato has announced that she also plans to host a more joyous farewell event at Sakura Furusato Hiroba later in the year when the summer will be over.

Kabosu’s legacy goes beyond the meme culture. She is said to be the inspirational force behind the success of Dogecoin and paved the way for the creation of other dog-themed cryptocurrencies like Shiba Inu (SHIB) and FLOKI. Her beautiful influence will remain etched on the heart of the crypto industry.

DOGE dips after Kabosu demise

Dogecoin (DOGE) price fell from $0.16165, the 61.8% Fibonacci retracement level of the decline from the March 28 peak of $0.2288 to the May 1 low of $0.12010, according to Coindesk. 

In case of further declines, DOGE may sweep support first at the May 20 low of $0.14740 and then the May 1 low of $0.12010.