In 2010, two years after adopting the shiba inu, Sato posted a picture on her blog of Kabosu crossing her paws on the sofa and giving the camera a beguiling look.
That image became the “Doge” meme – and later an NFT digital artwork that sold for US$4 million.
“She is pulling a weird face,” Sato laughs. “Now I think she looks really nice” in the famous photo but “at first I thought it could be trashed”.
Atsuko Sato and her Japanese shiba inu dog Kabosu, whose picture spawned online memes that led to the cryptocurrency Dogecoin being created, greet children at a kindergarten in Narita, east of Tokyo. Photo: AFP
The meme grew from an online forum post into an anarchic in-joke that bounced from college bedrooms to office emails.
“One of my friends messaged me: ‘Isn’t this picture Kabosu?’ Then I searched for it and found all sorts of memes, like Kabosu turning into a doughnut,” Sato says.
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The 62-year-old is now so used to “unbelievable” events that when Tesla boss Musk changed the icon for Twitter, now X, to Kabosu’s face last year, she “wasn’t even that surprised”.
“In the last few years I’ve been able to connect the online version of Kabosu, all these unexpected things seen from a distance, with our real lives.”
Kabosu spends most days resting in a cart at the kindergarten or on a big cushion at home, where fan-made Doge tributes adorn the walls.
Kabosu in her cart sitting in front of a manhole cover featuring her image at a park in Sakura, eastern Tokyo. Photo: AFP
The memes typically use goofy broken English to reveal the inner thoughts of Kabosu and other shiba inu “doge” – usually pronounced like pizza “dough” but with a “j” at the end.
“Very love. Such star OMG. So heart. Much drawing,” says one framed print using this signature “doge speak”.
Kabosu fell ill with leukaemia and liver disease at the end of 2022, and Sato is sure the “invisible power” of prayers from fans worldwide helped her pull through.
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Atsuko Sato with Kabosu at a statue of the dog recently installed in Sakura, eastern Tokyo. Photo: AFP
Then, in November 2023, a US$100,000 statue of Kabosu and her sofa crowdfunded by Own The Doge, a cryptocurrency organisation dedicated to the meme, was unveiled in a park in Sakura.
Sato and Own The Doge have also donated large sums to international charities, including more than US$1 million to Save the Children. The NGO says it is “the single largest cryptocurrency contribution” it has ever received.
“The Doge is the most popular dog of the modern era,” says Tridog, a pseudonymous member of Own The Doge, describing Kabosu as “the Mona Lisa of the internet”.
Tridog, a member of Own the Doge, wearing a Doge mask in Los Angeles, California. Photo: AFP
Dogecoin was started as a joke by two software engineers and is now the world’s eighth most valuable cryptocurrency, with a market cap of US$23 billion.
“The Doge meme was pretty big on the internet in 2013 and I spent a lot of time on Reddit and other forums back then,” says Dogecoin co-founder Billy Markus.
Markus, who is no longer affiliated with Dogecoin, was amused by the “silliness and innocence” of the memes.
Fellow founder Jackson Palmer “drank a beer and saw the doge meme and bitcoin in the news and thought saying he was gonna invest in Dogecoin would make a funny tweet”, he said.
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A Dogecoin featuring the face of Kabosu. Photo: Shutterstock
Markus found the idea hilarious and created the coin in “a few hours” before contacting Palmer and taking it live.
“Lots of weird stuff happened after that,” he says.
Since then, Dogecoin has been backed by stoner hip-hop king Snoop Dogg, Shark Tank entrepreneur Mark Cuban and rock band Kiss’ bassist Gene Simmons, who once tweeted: “I bought Dogecoin … six figures.”
But its most keen supporter is probably the billionaire Musk, who jokes about the currency on X – sending its value soaring – and hails it as “the people’s cryptocurrency”.
A sticker of Kabosu on the car of her owner, Atsuko Sato. Photo: AFP
Dogecoin has also inspired a plethora of other cheap and highly volatile “meme coins”, including spin-off Shiba Inu and others based on dogs, cats or Donald Trump.
A solitary figure wearing a Doge mask looks out over the Los Angeles skyline – this is Tridog, who says he has “worked for a dog photograph for almost three years”.
Own The Doge is his full-time job, and he preaches its motto D.O.G.E, or “Do Only Good Everyday”.
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When Kabosu dies, “the world will mourn”, Tridog says, but “a legend always lives on”. Photo: AFP
In 2021, Sato sold the viral photo of Kabosu as a non-fungible token (NFT), a digital ownership certificate that can be traded online, to a group of cryptocurrency art collectors called PleasrDAO for US$4.2 million.
That makes it “a top-five most expensive photo ever sold”, Tridog says.
PleasrDAO split the NFT’s value into a brand-new meme coin called $DOG, allowing many people to collectively “own” the meme.
Own The Doge has brought fans and other meme stars to Japan to meet Kabosu and Sato, and it recently secured the intellectual property rights to the famous photo, paving the way to make Doge toys, films and other products.
As a rescue dog, Kabosu’s real birthday is unknown, but Sato estimates her age at 18 – past the average lifespan for a shiba inu.
When Kabosu dies, “the world will mourn”, Tridog says, but “a legend always lives on”.
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He hopes people will remember “the deeper values” behind the Doge meme: “the wholesomeness, the silliness, the not taking yourself too seriously.”
Bitcoin prices hovered around $98,608 on Saturday on international exchanges, buoyed by the euphoria over Donald Trump-led Republican party reclaiming the White House. With its total market cap touching more than two trillion dollars, the oldest cryptocurrency has witnessed a spike of 51 per cent in the past one month.
There is hope that the Donald Trump-led US administration will adopt crypto-friendly policies when it takes over in January next year for its second term. The rally got further impetus when BlackRock’s spot Bitcoin ETF options were listed on Nasdaq on Tuesday.
Indian crypto industry insiders are naturally upbeat about this rally. Balaji Srihari, Business Head of CoinSwitch, says, “Bitcoin surged to an all-time high, signalling that the much-anticipated $100,000 milestone could be within reach- many analysts predict that this mark could be achieved as early as the end of November. Since the recent US election, Bitcoin has been consistently setting new records, encouraged by expectations of a more supportive regulatory framework and a potential national Bitcoin reserve; that can legitimise Bitcoin as a government-backed asset. BlackRock’s Bitcoin ETF debuting options trading on Nasdaq is a big sign of increasing crypto adoption.”
Apart from bitcoin, other crypto tokens too have witnessed a surge. XRP, for instance, has surged 188 per cent in the past one month, and 37 per cent in the past five days alone. Ether trades at $3,354 and BNB trades at $665 on Saturday, according to Coinmarketcap data.
Shivam Thakral, CEO of BuyUcoin, says, “In the last 24 hours, Bitcoin reached a record high of $99,000. XRP led the charge with a remarkable 25 per cent increase, driven by renewed optimism surrounding a more crypto-friendly regulatory environment in the US. It is anticipated that Donald Trump’s win in the election will drive the implementation of crypto-friendly policies, which will, in turn, enhance market sentiment. As trading volumes rise and hopes for ETF approvals increase, the future looks extremely positive for XRP and the wider cryptocurrency market as we near the end of the year.”
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Vishal Sacheendran, Head of Regional Markets at Binance, says, “Bitcoin’s rally, fuelled in part by the optimism surrounding Donald Trump’s re-election, represents a transformative moment for the crypto and Web3 space. His administration’s support for digital assets could lead to more progressive regulations, fostering an environment conducive to greater institutional and retail investment in the sector. I believe that the broader crypto ecosystem could benefit from policies that promote blockchain infrastructure, and provide a better route for financial institutions to engage with crypto.”
Caution needed
Despite all the positive factors, crypto experts believe that investors should stay cautious and not get too carried away. It is common knowledge that bull runs are often followed by steep corrections. So, one should be cautious before getting too elated. “Amid the excitement, traders should stay cautious. Big price jumps often lead to sharp corrections, and using too much leverage could amplify risks during volatile periods,” says Srihari from Coinswitch.
“It is also important to note that in a bull market like this, investors should also remain mindful, conduct thorough research, and not make investment decisions solely based on market sentiment or hype,” adds Sacheendran of Binance.
Cryptocurrency Prices Today, November 23: The broader market movement on Saturday sparked bullish momentum globally. Bitcoin remains steady at $98K, while major altcoins like ADA, XRP, and AVAX surged between 14% and 25%. Notably, Hedera (HBAR) and Stellar (XLM) emerged as top performers, registering jumps of 25% to 55% in the last 24 hours.
Simultaneously, the global crypto market cap witnessed a 1.5% increase in the past 24 hours, currently at $3.33 trillion. However, the total market volume declined by 12% from yesterday and is now at $219 billion. Let’s dive into a brief report on the top cryptocurrencies by market cap and their price movements on November 23.
Cryptocurrency Prices Today: BTC Holds Steady, ETH & SOL Unchanged, XRP Soars 15%
Bitcoin (BTC) remains stable at $98K, holding its position for the past 24 hours. Similarly, Ethereum (ETH) and Solana (SOL) have shown no significant movement during this period. However, XRP has surged by 14%, leading the gainers. Among the top meme coins, Dogecoin and Shiba Inu have also witnessed a 9% increase in the last 24 hours, reflecting positive momentum in the cryptocurrency prices today.
Bitcoin Price Today
BTC price chart appears steady, currently trading at $98,550. Its intraday low and high are $97,222 and $99,655, respectively. Bitcoin’s market cap is $1.95 trillion, with a 24-hour trading volume of $76 billion.
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According to Sosovalue data, 22.85 million BTC flowed out of 12 BTC ETFs. However, BlackRock’s IBIT data is still awaited. With a dominance of 58.59%, Bitcoin remains the largest cryptocurrency by market cap.
Ethereum Price Today
Ethereum (ETH) remains unchanged, currently trading at $3,333. Its 24-hour low and high are $3,262 and $3,428, respectively, showing minimal price movement. ETH has gained 7% over the past week, indicating positive short-term performance. With a market cap of $400 billion, ETH remains strong in the market.
The 24-hour trading volume for Ethereum is $38 billion, and it commands a market dominance of 12%. ETH ETFs saw an outflow of 8.47 million, and BlackRock’s IBIT data is yet to be released, which may further influence the market.
Solana Price Today
Solana (SOL) is down by 2% in the last 24 hours, currently trading at $255. Its 24-hour low and high are $252 and $263, respectively, showing slight fluctuations. Over the past week, SOL has risen by 17.5%, reflecting strong growth. With a market cap of $121 billion and a 24-hour trading volume of $7 billion, Solana remains the fourth-largest cryptocurrency globally.
XRP Price Today
XRP price has jumped by 15% in the last 24 hours, currently trading at $1.566. Its 24-hour low and high are $1.367 and $1.621, respectively, showing strong volatility. XRP has surged by 75% in the past week and 200% in the last 30 days, reflecting impressive growth. With a market cap of $89 billion and a trading volume of $20 billion, XRP is now the sixth-largest cryptocurrency by market cap.
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Meme Coins Performance Today
Dogecoin (DOGE) has increased by 9% and is currently trading at $0.42. Its 24-hour low and high are $0.3858 and $0.4296, respectively, showing solid market movement.
Similarly, Shiba Inu (SHIB) is also up by 9%, trading at $0.00002698. Its 24-hour low and high are $0.00002437 and $0.00002749, respectively, reflecting positive momentum.
On the other hand, other meme coins like PEPE, BONK, and WIF have experienced declines of 2% to 8% in the past 24 hours. These drops indicate some volatility in the meme coin sector.
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Top Cryptocurrency Gainer Prices Today
Stellar
Stellar (XLM) price is currently trading at $0.44, marking an impressive 55% increase in the last 24 hours. Its 24-hour low and high are $0.2766 and $0.4624, respectively, reflecting significant volatility and strong market momentum.
Hedera
Hedera (HBAR) is currently trading at $0.1542, up by 25% in the last 24 hours. Its 24-hour low and high are $0.1275 and $0.1681, respectively, showing strong price fluctuations and growth.
Cardano
Cardano (ADA) price is up by 24% and is currently trading at $1.09. Its 24-hour low and high are $0.85 and $1.137, respectively, reflecting significant movement, and it is the ninth-largest cryptocurrency by market cap.
Top Cryptocurrency Loser Prices Today
Peanut the Squirrel
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Peanut the Squirrel (PNUT) is down by 13% in the last 24 hours and is currently trading at $1.11. Its 24-hour low and high are $1.04 and $1.31, respectively, indicating a decline in its price.
Popcat (SOL)
Popcat (POPCAT) is down by 9% and is currently trading at $1.43. Its 24-hour low and high are $1.415 and $1.612, respectively, showing a decline in price over the past day.
Raydium
Raydium (RAY) is down by 8% in the last 24 hours and is currently trading at $5.98. Its 24-hour low and high are $5.913 and $6.432, respectively, indicating a decrease in price during this period.
Besides, the hourly time frame chart continues to spark bullish momentum for cryptocurrency prices today. BTC is up by 0.4%, ETH is up by 0.5%, and Dogecoin has risen by 4%, sparking discussions among traders and investors about future price movements.
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Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Cryptocurrency markets are trading higher, with Bitcoin hovering around $100,000 and Jim Cramer suggesting it is “a winner.”
Cryptocurrency
Price
Gains +/-
Bitcoin BTC/USD
$99,254.71
+0.88%
EthereumETH/USD
$3,281.28
-2.1%
SolanaSOL/USD
$253.09
-0.8%
Dogecoin DOGE/USD
$0.3987
+3.7%
Shiba InuSHIB/USD
$0.00002463
+0.3%
Notable Statistics:
IntoTheBlock data shows large transaction volume increasing by 47.5% and daily active addresses growing by 27.2%. Transactions greater than $100,000 are up from 13,321 to 18,859 in a single day. Exchanges netflows are down by 4.5%.
Coinglass data reports 113,608 traders were liquidated in the past 24 hours for $340.73 million. Open interest continues to stand at peak levels, $64 billion.
Polymarket data shows there is a 60% chance of Bitcoin touching $100,000 today and an 89% probability of it happening this month.
Notable Developments:
Top Gainers:
Cryptocurrency
Price
Gains +/-
StellarXLM/USD
$0.3194
+28.2%
XRPXRP/USD
$1.42
+20.6%
CardanoADA/USD
$0.9647
+19.9%
Trader Notes: Bitcoin nearing $100,000 sparked mixed sentiments among traders.
Altcoin Sherpa quipped “See you guys at $60,000” when Bitcoin failed to break through the psychological barrier.
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Crypto trader Seth highlights a “thick and sticky sell wall” as the obstacle.
Dogecoin founder Billy Markus stated, “maybe bitcoin will become a $99,000 stablecoin.”
Quinten Francois remains optimistic, stating the Bitcoin bull market has “just started.”
Daan Crypto Trades explained that traders are preemptively shifting from altcoins to Bitcoin as it edges closer to the $100,000 milestone.
He predicts a breakout, followed by consolidation could lead to altcoin rebounds. Until then, Bitcoin is expected to continue absorbing liquidity.
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