Dogecoin (DOGE) and Shiba Inu (SHIB) prices spiked after Elon Musk tweeted about the death of Kabosu, the Shiba Inu dog who became an internet meme icon. This again shows how much Musk's words can affect these "meme coins”, especially compared to the more established currencies like Bitcoin price, which are tend to be driven by different factors.
DOGE jumped as much as 5% to 17.3 cents after the tweet, while SHIB rose nearly 3%. However, these gains didn't last. Still, both coins ended the day slightly higher than the day before, unlike most other cryptocurrencies.
This reminds us of how powerful Elon Musk's influence can be, especially when it comes to meme coins. Some people even think he might be a big DOGE holder and could even use it for payments in the future. The passing of Kabosu, who was the inspiration behind the start of Doggie-Coins died at over 17 years old recently.
