What Is Neiro (NEIRO)?

The rise of Neiro meme coins stems from the recent adoption of a new dog by Atsuko Sato, the owner of Kabosu, the dog that inspired the well-known Dogecoin. After Kabosu passed away on May 24, 2024, Sato introduced Neiro, a 10-year-old female Shiba Inu, as Kabosu’s “sister” in a social media post in late July 2024.

Following this, the crypto community reacted with enthusiasm, and tokens labeled NEIRO appeared on multiple blockchains, including Ethereum, Solana, and Base. However, Atsuko Sato has made it clear that she has not given her approval for any of these tokens.

This article will focus on the NEIRO tokens, reviewing their performance to date and exploring their tokenomics.

Dog-Themed Meme Coins

The fascination with dog-themed meme coins began in 2013 with the introduction of Dogecoin, which was inspired by the viral meme featuring a Shiba Inu. Originally intended as a humorous take on Bitcoin, Dogecoin used the Proof of Work consensus mechanism. Despite its modest beginnings, it gained widespread attention during the 2020-2021 bull market, largely due to high-profile endorsements, such as from Elon Musk, and a surge of social media interest. This laid the foundation for other dog-themed coins, including Shiba Inu, Floki, and Baby Doge.

Shiba Inu, launched on the Ethereum network, brought new features like a decentralized exchange (ShibaSwap) and distinct tokenomics, along with community-organized burns. Meanwhile, Floki and Baby Doge used aggressive marketing and community initiatives to establish their presence. Since then, the popularity of dog-themed meme coins has expanded across several blockchains, particularly Ethereum and Solana. While they benefit from social media hype and community enthusiasm, these coins remain highly volatile, with their market performance largely driven by trends rather than any inherent utility or value.

What is Neiro on Ethereum?

The Neiro meme coin, trading under the ticker NEIROETH, is an Ethereum-based token inspired by Neiro the Dog. It was launched on July 29, 2024, and quickly gained momentum, reaching a market capitalization of over $70 million within its first 24 hours. NEIROETH stands as the most prominent token in the Neiro meme trend and has already been listed on several centralized exchanges.

What is Neiro on Solana?

Neiro on Solana, identified by the ticker NEIRO, was also released on July 29, 2024. Although it hasn’t achieved the same level of viral success as its Ethereum counterpart, it still has a solid following on social media platforms like X. The token has also secured several partnerships and exchange listings.

According to data from Dexscreener, NEIRO on Solana operates as a CTO (Community Takeover) token. In this model, the original creator(s) have left the token’s future in the hands of the community, which has taken on the role of promoting and managing the project.

Which Neiro Meme Coin Launched First?

According to blockchain data from platforms like Etherscan and Solscan, all four Neiro tokens were deployed on July 27, 2024, at different times. Two were launched on Solana and two on Ethereum. The Solana-based tokens went live first, with the Ethereum versions following shortly after. However, despite being the earlier projects, the Solana tokens have since fallen behind the Ethereum ones in terms of market capitalization.

The reason for this disparity isn’t entirely clear. Some speculate that differences in market demand and adoption rates may stem from how each token was launched and distributed, with varying levels of centralization playing a possible role in the outcome.

Conclusion

The Neiro meme coins have sparked interest in the crypto space, largely fueled by the legacy of Dogecoin and the buzz around Neiro, the newly adopted Shiba Inu. Among the various Neiro projects, the CTO token has achieved the highest market cap.

Despite the hype surrounding dog-themed meme tokens, caution is advised for anyone considering investment. If you’re thinking of getting involved with Neiro, it’s important to only invest money you can afford to lose and stay informed about community and market shifts. Meme coins are driven by sentiment, and Neiro is no different.

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