As a seasoned crypto investor with a soft spot for memecoins and a keen interest in the goings-on of the community, I’ve witnessed firsthand the market-moving power Elon Musk holds over the space. Friday’s events served as yet another reminder of this phenomenon.
Dogecoin (DOGE) and Shiba Inu (SHIB), two meme coins inspired by canines, experienced a surge in value on Friday following Elon Musk’s tweet about the death of Kabosu, the pooch that served as their muse.
Musk’s influence over memecoins is highlighted by his market-moving actions, leading crypto enthusiasts to ponder if he might be among the largest holders of dogecoin and consider integrating it into X’s payment system.
In a blog post shared on Friday, it was announced that Kabosu, who served as the symbolic representation of Dogecoin and numerous other meme tokens, had passed away. She was an impressive 17 years old.
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2024-05-24 18:50