An NFT of the photo that inspired Dogecoin just sold for $4M

[RSS News]

Dogecoin has seen significant attention in 2021 in tandem with its dramatic price rise. Capitalizing on this rise in attention, someone sold a non-fungible token (NFT) of the picture on which the Dogecoin (DOGE) cryptocurrency was based.*

“The original image that started it all,” read*the description of the NFT, sold on very.auction. “This photo of the Shiba Inu ‘Kabosu’ was taken by her owner Atsuko Sato on February 13th, 2010,” the description explains, adding:

“After sharing it to her personal blog alongside the series of other famous images under the title ‘Taking a walk with Kabosu-chan,’ these photos went on to kickstart the Doge meme and have circulated the web ever since — none more iconic than this picture.”

The NFT was minted by a user named @kabosumama on May 31, according to the auction site. The first bid landed on June 8 from a user willing to pay 6.5 Ethereum (ETH) for the piece. Bidding escalated from there. The winning bid of 1,696.90 ETH — over $4M at time of publication — was wagered on June 11.

Related: Nifty News: Doge NFTs much wow, Paris Hilton is an NFT advisor, NFT game raises $3M

Topping above $0.70 per coin, Dogecoin’s price has risen substantially in 2021. The asset, however, has fallen notably since then, in line with the rest of the crypto market recently, trading at roughly $0.31 as of time of publication.

Elon Musk, the self-proclaimed CEO of Dogecoin, has posted a number of Dogecoin-related tweets in recent months.*Jackson Palmer and Billy Markus created the asset in 2013 as a meme-based crypto parody.