Elon Musk’s Latest Tweet On Kabosu Tribute with Harambe Meme Sends Dogecoin Soaring

Elon Musk recently paid tribute to Kabosu, the Shiba Inu that served as the inspiration behind Dogecoin, leading to a significant surge in DOGE prices. Musk’s tribute post featured a meme depicting a Gorilla with angelic wings alongside the iconic DOGE mascot, with a caption stating that “OG Doge has ascended to heaven to be with his friend Harambe.”

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Elon Musk Takes On DOGE and Harambe

The backstory of Dogecoin dates back to 2013 when it was created by Billy Markus and others, drawing inspiration from the popular Doge meme. The coin, which has now amassed a market capitalization of over $60.2 billion, played a pivotal role in introducing memes to the blockchain ecosystem.

Harambe, a Silver-back Gorilla, also gained prominence in Musk’s tribute post. Harambe tragically passed away on May 28, 2016, after being shot by a zookeeper when a 3-year-old boy fell into his enclosure and was dragged by the gorilla.

Interestingly, both Harambe and Kabosu shared a May demise and lived for 17 years before their passing.

The Bullish DOGE Trend

Elon Musk’s posts about Dogecoin are known to have a significant impact on the digital currency’s value. Following his tribute to Kabosu, Dogecoin experienced a 3.43% increase, reaching $0.1659, aiming to reclaim the $0.2 price mark.

The broader memecoin ecosystem also saw a surge, with projects like Harambe on Solana increasing by more than 11% in response to Musk’s post.

Furthermore, industry leaders, including Shiba Inu (SHIB) and FLOKI, joined in honoring Kabosu’s legacy. The tokenization of real-world assets on the blockchain, exemplified by Dogecoin, has further solidified the transformative potential of blockchain technology in the financial landscape, evident in Dogecoin’s $23.8 billion market cap.

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Conclusion

Elon Musk’s tribute to Kabosu not only commemorated the Shiba Inu’s influence on Dogecoin but also triggered a bullish reaction in the DOGE market. As the memecoin ecosystem continues to evolve, the impact of influential figures like Musk remains profound, highlighting the transformative potential of blockchain technology.


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Dr. Olajide Samuel juggles the demands of medical studies with a passion for cryptocurrency. A seasoned blogger, Olajide shares his vast global knowledge of the crypto space, offering insights to enthusiasts. Despite his busy schedule, his commitment to crypto remains strong, and he actively seeks ways to contribute to its future.
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