Popular meme coins Dogecoin DOGE/USD, Shiba Inu SHIB/USD, and Floki FLOK/USD cracked after the dog they are inspired after, Kabosu, died at age 18.
What Happened: All three cryptocurrencies were down between 5% to 7% in the last 24 hours after Kabosu passed away.
The legendary and beloved pup breathed its last in Japan and its owner revealed that there will be a funeral on Sunday, May 26.
Kabosu not only inspired Dogecoin, Shiba Inu, and Floki but it was also mentioned quite often by Tesla Inc. CEO Elon Musk.
Musk liked the Shiba Inu pup so much, that he once replaced the beloved Twitter bird logo with Kabosu.
This sent Dogecoin prices skyrocketing, and the meme crypto hasn't turned back since then. It is now the eighth-largest cryptocurrency in the world by market capitalization.
See Also: SEC Approves Spot Ethereum ETFs, Opening Door For Mainstream Investors
Why It Matters: Kabosu was very famous in the crypto community. It was rescued by Atsuko Sato from an animal shelter that had 18 other Shiba Inu pups as well.
“She was a pedigreed dog from a puppy mill and when the puppy mill closed down, she was abandoned along with 19 other Shiba dogs,” Sato said.
Sato posted photos of Kabosu after a photoshoot, but little did she imagine it would go viral and be responsible for the creation of multiple cryptocurrencies.
The dog also got a bronze statue erected on its 18th anniversary in Sakura City, Japan.
Price Action: At the time of writing, Dogecoin is down 5.41%, Shiba Inu cracked 5.72%, and Floki shed 7.37% in the last 24 hours, according to Benzinga Pro.
Photo courtesy: Shutterstock
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