Kabosu's Sister Sparks New Memecoin Wave

A new dog-themed meme coin has taken the crypto market by storm. Inspired by Kabosu owner’s new dog, Neiro, a new wave of Shiba Inu-themed tokens surged on Solana.

A new cryptocurrency, inspired by Kabosu's owner's new dog, has surged in value over the last four days.

The token, called Neiro, is named after the 10-year-old rescued Shiba Inu dog. It was launched on August 1 with a market capitalization of $200 million.

Over the last 24 hours, Neiro's price has increased by 63%, and it is currently trading at $0.18.

The token's remarkable growth has seen it outshine its Solana counterparts, which also experienced a surge in value following Kabosu's owner's announcement.

However, both the Solana and Ethereum versions of the Neiro token have faced scrutiny, with reports alleging insider activity by the developers.

According to blockchain data firm Bubblemaps, the developers of the largest Neiro token on Solana controlled 6% of the token's supply, which they eventually sold for $5.7 million.

Meanwhile, Bubblemaps reported that 78% of the Ethereum Neiro token's supply was sniped at launch and quickly spread among 400 wallets, with the wallets selling 12% of their holdings, or around $4.5 million, by July 30.

Despite these reports, investors appear to be enthusiastic about the Neiro token, with some even describing the reports as "bullish news."

Others expressed excitement over the firm's "fudding," highlighting the token's potential for massive gains.

"A lot of the most successful memes require supply control," one user noted.

Several investors also noted the return of "dog days" and the continuation of the "Doge legacy" with the Ethereum-based memecoin.

According to one X user, several factors have contributed to Neiro's overnight success, including its "SHIB-like narrative," "concentrated attention," and the "return of dog meta that always dominates Ethereum bull cycles."

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