KEYTAKEAWAYS
- Neiro, inspired by Kabosu's successor, sparked multiple memecoin projects across Solana and Ethereum ecosystems, attracting significant attention and investment.
- The Neiro phenomenon demonstrates the enduring power of memes in crypto, with some early investors seeing returns as high as 5,169 times.
- Despite warnings from Kabosu's owner, Neiro-related tokens continue to proliferate, highlighting the speculative nature of the memecoin market.
CONTENT
Explore the rise of Neiro, a new Shiba Inu memecoin inspired by Kabosu‘s successor. Learn about various Neiro tokens, their market impact, and the ongoing speculation in the crypto world.
On May 24, 2024, Kabosu, the original Shiba Inu dog behind DOGE, passed away. While the crypto industry mourned and regretted this loss, they also paid considerable attention to her owner かぼすママ (translated as Kabosu’s Mom). Yesterday at 5 AM, かぼすママ posted on the X platform that she had adopted a new Shiba Inu family member named ‘ねいろ’ (directly translated to English as “Neiro”). This immediately led to the emergence of several meme projects with the same name in the crypto market.
We will provide a brief commentary on this in this article.
“NEIRO” OR “Neiro” THAT IS THE QUESTION
It’s worth noting that the name Neiro was not proposed by かぼすママ (Kabosu’s Mom), but by the DAO organization Own the Doge, which currently holds the image copyright related to Kabosu, the original Dogecoin Shiba Inu. They commented on かぼすママ (Kabosu’s Mom)’s tweet: “Much wow, welcome to the family Neiro”. Several representative projects have emerged around this ID, mainly including the following 3 types:
Type 1: Lowercase “Neiro”- the Orthodox Meme?
The first Neiro token contract in the Solana ecosystem was deployed after 5 AM, which can be said to be the fastest-reacting “memecoin project”. At the time of writing, the token price is around $0.049, with a market cap of $49.7 million. The highest price once broke through $0.12.
▶ Contract address: CTJf74cTo3cw8acFP1YXF3QpsQUUBGBjh2k2e8xsZ6UL
The second Neiro token contract with a larger market cap in the Solana ecosystem was deployed around 7 PM last night. At the time of writing, the token price is around $0.012, with a market cap of $12.6 million. The highest price once approached $0.018.
▶ Contract address: D6THbUGFdxJ5LzNVHTGjjetpU5JCxy3x2f7dmw2s6vJR
The Neiro token contract in the Ethereum ecosystem was deployed around 5:15 AM yesterday. At the time of writing, the token price is around $0.000003691, with a market cap of $1.5 million. The highest price once broke through $0.00002, but the 24-hour decline has now exceeded 65%, showing signs of zeroing out.
▶ Contract address: 0x812Ba41e071C7b7fA4EBcFB62dF5F45f6fA853Ee
>>> Read More:
Type 2: Uppercase “NEIRO”- a More Promising Meme?
The first NEIRO token contract in the Solana ecosystem was deployed around 5:15 AM. At the time of writing, the token price is around $0.023, with a market cap of $22.7 million. The highest price once approached $0.06.
▶ Contract address: CTg3ZgYx79zrE1MteDVkmkcGniiFrK1hJ6yiabropump
The NEIRO token contract in the Ethereum ecosystem was deployed around 6:30 AM yesterday. At the time of writing, the token price is around $0.013, with a market cap of $13.1 million. The highest price once broke through $0.018, reaching around $0.0188.
▶ Contract address: 0xEE2a03Aa6Dacf51C18679C516ad5283d8E7C2637
Type 3: JAPANESE “ねいろ”- THE MOST AUTHENTIC MEME?
The Solana ecosystem memecoin ねいろ (directly translated from Japanese as “timbre”) released on the pump.fun platform is also seen as a symbol of the new Shiba Inu. At the time of writing, the token price is around $0.00023, with a market cap of $233,000. The highest price once surged to $0.0018, but has now significantly fallen back. However, many people have taken ambush operations due to its “more authentic” nature.
▶ Contract address: BsjcdsZGq2myoCQEv1v7MMvjfUxkpNoqH6WaXWUzpump
In addition, there are many other memecoin projects with the same names like Neiro, NEIRO, ねいろ, and some projects even use slogans like “The New Doge”, which are worth paying attention to. For more projects, readers can log in to the official Dexscreener website to search and view (*memecoins are highly volatile and may involve rug pull situations, please be extra careful and guard against fraud).
>>> Read More:
THE STORY BEHIND ねいろ
In the tweet posted by かぼすママ (Kabosu’s Mom), she gave a simple “welcome introduction” to the new Shiba Inu ねいろ — “We welcomed a new family member, her name is ‘Neiro’, meaning the color of music. She’s a 10-year-old former rescue dog girl. For these 10 years, Neiro has experienced pain, fear, and sadness. But from now on, only happy and pleasant things. Happy days have begun!”
Like Kabosu, the original Shiba Inu behind Dogecoin, ねいろ also found a home again after experiencing many setbacks and hardships. Moreover, at around 8 AM yesterday (3 hours after announcing the adoption of ねいろ), かぼすママ (Kabosu’s Mom) posted again to remind: “I’ve seen many tokens related to Kabosu and Neiro. To clarify this matter, I do not endorse any crypto projects other than @ownthedoge and Dogecoin, because they own the original Doge photos and intellectual property rights (which I have given to them), dedicated to doing good deeds, charity work, and spreading Doge culture every day.”
Regarding this matter, it accurately occurred in April this year when the decentralized autonomous organization Own the Doge purchased the image copyright related to Kabosu, the original Dogecoin Shiba Inu. According to reports, the specific amount of this transaction was not disclosed, but it took three years. John Monarch, the project leader of Own The Doge, stated that as the Dogecoin image copyright becomes clearer, opportunities for collaboration with big brands are increasing. This has also become a prime example of “meme power breaking through and spreading” to some extent.
MEME NEVER DIES, SPECULATION NEVER STOPS
In just about a day, the appearance of Neiro has once again brought new vitality to the memecoin market, as well as new “get-rich-quick stories” —
- An address that bought Neiro early made a profit of $1.93 million with just $80,000, a return rate of 2397%. According to analysis, its position building can be divided into two rounds: 1) One minute after Neiro’s launch, it spent 15.089 SOL to buy 70.8 million tokens at an average price of only $0.00003914, and then sold the first position in batches within six hours; 2) When the market value soared to $79 million, it entered again, spending 420.75 SOL to buy 983,500 tokens, with an average price as high as $0.07916, and sold all of them within an hour. According to the on-chain analyst, this address had participated in many meme transactions (including the previous hot topic of laser eyes) with a “lottery buying” approach in the past month, with a win rate of only 31.25%, so it’s likely not insider trading.
- The deployer of Neiro earned 15,508 SOL ($2.85 million) with just 3 SOL ($552), a return of 5,169 times. When deploying Neiro, he spent 3 SOL ($552) to buy 97.5 million Neiro. Subsequently, he sold 68 million Neiro through multiple wallets for 15,511 SOL ($2.85 million), realizing a profit of 15,508 SOL ($2.85 million). He also sent 10 million Neiro to a certain wallet, and currently has 19.5 million Neiro ($1.8 million) left, with an unrealized profit of $1.8 million.
- According to Bubblemaps analysis, the developer of Solana memecoin NEIRO has made a profit of $3.3 million so far, buying tokens from multiple addresses and currently owning 6% of NEIRO’s supply. Although this news was later denied by the project team, claiming that the disclosed information was inaccurate and that the developer only holds 1.6% of the supply and has no plans to sell in the near future, it seems to lack persuasiveness. The project’s official Twitter account was also subsequently suspected to be banned by the X platform for violations.
As mentioned in many articles already, memecoin projects care more about “whether more people are paying attention” rather than “whether this thing is good or bad”. Therefore, whether it’s the news of Kabosu’s death earlier or the news of Neiro’s adoption, they both quickly gained a large amount of attention resources in a short time, thus driving both market heat and liquidity.
The new Shiba Inu Neiro, which combines cuteness, public welfare attributes, and topicality, may become a new emerging meme in the internet world like Kabosu once was, becoming an internet memory for a generation. The power of memes can transcend time and space, and the speculation about memes will not stop, just more or less.
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