Memecoin Inspired By Dogecoin Mascot Kabosu's Sister Soars 1408% Since Launch: What You Need To Know About Neiro

Neiro NEIRO/USD, the new dog-themed memecoin, has taken the cryptocurrency market by storm in a little over two weeks since its launch.

What Happened: NEIRO is named after the newly adopted Shiba Inu pup of the owner of  Kabosu, the legendary canine, who inspired a wave of dog-themed cryptocurrencies.

Kabosu passed away at the age of 18 earlier this year. Her owners recently posted on X about adopting Neiro, a "10-year-old girl."

A slew of memecoins inspired by the new family member quickly emerged, with one launched on Ethereum ETH/USD skyrocketing 1408% since launch.

The canine coin was worth $217 million in market capitalization as of this writing. Its trading volume more than doubled to $39 million in the last 24 hours.

See Also: Bitcoin Miners Expand Capacity As Network Hashrate Hits New Record Despite Recent Price Drop

Why It Matters: NEIRO's rise reflected cryptocurrency degens' continuing love affair with memecoins, and the obvious emotional attachment with Kabosu's owners and her new sister.

In fact, Glauber Contessoto, also known as "Dogecoin millionaire," recently disclosed investing $100,000 into NEIRO, projecting it to hit the meteoric success of blue-chip coins like Dogecoin DOGE/USD and Shiba Inu SHIB/USD.

However, Atsuko Sato, the owner of Kabosu and Neiro, has categorically denied endorsing any of these NEIRO-inspired tokens.

Price Action: At the time of writing, Ethereum-based NEIRO traded at $0.2164, up 3.33% in the last 24 hours, according to data from Benzinga Pro. 

Photo Courtesy: Shutterstock.com

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