JAKARTA - The crypto world is shocked by the presence of Neiro, a new Shiba Inu adopted by the owner of the legendary dog, Kabosu. Kabosu is a Shiba Inu dog that inspired the Doge meme and gave birth to the famous meme coin, Dogecoin. However, with Neiro's presence, a new competition for the supremacy of meme coins began.
On Saturday, the owner of Kabosu known as Kabosumama announced the adoption of Neiro, a 10-year-old Shiba Inu. This announcement immediately sparked a commotion on Crypto Twitter, where various tokens with Neiro's name appeared. However, no official tokens were launched by Kabosumama. He stated that he did not support any crypto projects except OwnTheDoge, which has original photos of Doge and related copyright.
Although there is no official support, some Neiro tokens were launched on the Solana network. One token even reached a market cap of 89 million US Dollars (approximately IDR 1.4 trillion) in just three hours after Neiro's announcement. However, Twitter Crypto users began to warn that the token was not the original Neiro token. Another token, with the same name and ticker, was launched an hour earlier than the token that reached such a large capitalization.
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Quoted from Decrypt, a pseudonym crypto influencer and meme coin trader, Ansem, stated on Twitter that he expects a new Doge to have a market capitalization of more than 100 million US Dollars (approximately Rp1.6 trillion), and attributes itself to tokens that have a larger market cap. However, at the same time, the first-launched Neiro token began to gain attention and soar in market capitalization.
Ansem then spoke on Twitter Spaces organized by the first Neiro token maker. Some traders consider this as support from Ansem, although he himself admitted that he did not buy the token and chose to wait until the market determined the winner.
During the Twitter Spaces session, market sentiment changed, and Neiro's tokens first jumped to nearly 20 million US Dollars (approximately IDR 326 billion) in market capitalization, while nearly 90 million US Dollar tokens fell to 23 million US Dollars (approximately IDR 375 billion). This situation sparked heated debate on Crypto Twitter, with some users blaming Ansem for shifting funds from larger meme tokens to earlier Neiro tokens.
During this chaos, Neiro's trading volume of meme coins in Solana exceeded trading volume on the Ethereum layer-2 network. Raydium, DEX on Solana's network, recorded a trade volume of 2.5 billion US Dollars (approximately IDR 40.8 trillion) over the weekend, with 1.37 billion US Dollars (approximately IDR 22 trillion) on Sunday as its best trading day in July.
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