Kabosu, the Shiba Inu dog that inspired the Dogecoin (DOGE) logo, has reportedly passed away. Kabosu became globally famous as the face of the popular meme token, which tech billionaire Elon Musk has widely supported.

Immediate Impact on DOGE Price

The news of Kabosu's passing caused a significant spike in DOGE's price, with the cryptocurrency rallying over 7% within minutes. This surge reflected the strong emotional connection and market impact the mascot had on the crypto community. However, the price quickly stabilized after the initial increase.

Current Trading Status of DOGE

Currently, Dogecoin is trading at $0.164. Despite the brief rally triggered by the news, the price has since returned to a more stable level.

Kabosu's passing marks the end of an era for Dogecoin enthusiasts, underscoring the deep emotional ties within the crypto community and their influence on market dynamics.