- Neiro’s adoption sparks a meme coin frenzy, causing intense competition and confusion on Crypto Twitter.
- Multiple Neiro tokens flooded the market, with one reaching an $89 million market cap in just three hours.
- Despite the chaos, Solana’s Raydium DEX sees a massive $2.5 billion trading volume over the weekend.
The adoption of Neiro, a new Shiba Inu by Kabosumama, the owner of the original Doge meme inspiration Kabosu, has ignited a fierce battle in the meme coin world. Kabosu, who passed away in May, left a legacy as the inspiration behind Dogecoin and many other meme coins. Now, with Neiro’s arrival, crypto users are in a frenzy to create tokens named after the new dog, leading to intense competition and confusion.
On Saturday, Kabosumama announced Neiro’s adoption, a 10-year-old rescue Shiba Inu. The news quickly spread, and multiple tokens named Neiro were launched. However, there is no official Neiro token. Kabosumama clarified on Twitter that she does not endorse any crypto project except OwnTheDoge. OwnTheDoge, which fractionalized the original Doge photo, is unrelated to Dogecoin.
Despite this clarification, Neiro tokens launched on Solana gained significant attention. One token reached an $89 million market cap just three hours after Neiro was introduced. Yet, Crypto Twitter was divided over which token was the real Neiro. Ansem, a well-known crypto influencer and meme coin trader, added to the confusion by discussing the tokens on Twitter.
Shiba Inu Burn Surges as DOGE and SHIB Whale Transactions Soar: ReportAnsem suggested that the new Doge token would surpass a $100 million market cap, linking to the larger market cap token. At this point, the first Neiro token was valued at $4.5 million, while the other neared $90 million. Some interpreted Ansem’s comments during a Twitter Spaces session as an endorsement of the larger token. Ansem, however, stated he had not invested in either token and preferred to wait for the market to decide.
The debate intensified during the Twitter Spaces session. The first Neiro coin’s market cap surged to $20 million, while the larger token’s value dropped to $23 million. This flip-flop continued, causing a crypto civil war over Neiro’s legitimacy. Ansem faced sharp criticism and even death threats for his perceived influence on the market.
Amidst the chaos, numerous other Neiro-themed coins emerged, including Neiro Inu, Neiro Butt, and Neiro Wif Glasses. Solana’s meme coins inspired by Neiro generated more trading volume on decentralized exchanges than any individual Ethereum layer-2 network, as reported by SolanaFloor.
The Ansem-endorsed token holds a $71 million market cap, while the first Neiro coin has dropped to $12 million. Crypto Twitter remains divided over which Neiro token is genuine. Meanwhile, Raydium, the Solana DEX, processed $2.5 billion in volume over the weekend, benefiting from the surge in meme coin trading.
