The new Solana-based meme cryptocurrency Neiro (NEIRO) has gotten a lot of press in the crypto community and is taking a lot of money away from other meme coins.
More Neiro coins have traded on the DEX over the last 24 hours than any other Ethereum layer-2 chain. This is an significant achievement.
The coin, which was named after Atsuko Sato’s new dog, Neiro, has an interesting story behind its rise. Sato, a Japanese preschool teacher, became famous as the owner of Kabosu, the Shiba Inu dog that gave rise to the famous Doge meme.
Neiro Sparks Meme Craze
Kabosu died in May at the age of 19. Sato just recently took in Neiro, a 10-year-old rescue dog. The crypto world immediately seized this opportunity, creating several meme coins bearing the name of the newest addition to the Doge family.
In public, Sato has said that she is not involved with these projects. On social media, she informed people about meme tokens associated with Kabosu and Neiro. To be clear, she only supports the Own the Doge DAO, which bought the rights to the Doge image in April.
Despite its initial success, NEIRO has faced accusations of insider trading. Lookonchain, an analytics platform, said that the person who created the token made 5,169 times as much money by buying 97.5 NEIRO coins and selling most of them for SOL. People are worried about the project’s ethics because of what the developer did.
Additionally, the existence of multiple versions of NEIRO contributes to its current liquidity spread. Researchers discovered that the largest NEIRO token on Ethereum was a honeypot scam, further undermining the credibility of the new meme coin.
Some people say that NEIRO doesn’t have enough cultural significance and symbols to compete with well-known meme coins like Dogecoin and Shiba Inu. They say that NEIRO might find it challenging to catch on and reach billion-dollar market values because the original Doge meme is still very famous.
