- Neiro (NEIRO), a Solana-based meme cryptocurrency, has captured significant attention following its recent debut by attracting liquidity from other meme coins.
- The combined DEX volume for various Neiro coins has surpassed the volume of all Ethereum layer-2 chains in the last 24 hours.
- The coin’s strong narrative, named after Atsuko Sato’s new dog Neiro, significantly contributes to its prominence.
Curious about Neiro, the new meme crypto shaking up the market? Discover why it has outperformed other cryptos and what experts are saying about its future.
Neiro: The Next Big Meme Coin?
Solana-based meme cryptocurrency Neiro (NEIRO) has garnered remarkable traction since its introduction. In the last 24 hours, the cumulative DEX volume for Neiro coins exceeded that of all Ethereum layer-2 solutions. This development has positioned Neiro as a noteworthy player in the meme coin sector, particularly given its unique backstory. Its rise is tied to the popular new dog adopted by Atsuko Sato, the Japanese nursery school teacher who owned Kabosu, the Shiba Inu behind the legendary Doge meme.
Atsuko Sato Issues a Caution
Despite the hype, Atsuko Sato has cautioned against new meme tokens linked to Kabosu and Neiro. She clarified via social media that she does not endorse any crypto projects apart from the Own The Doge DAO, which secured the rights to the Doge image earlier this year. This serves as a prudent reminder for investors to exercise due diligence.
Concerns Over NEIRO: A Mere Flash in the Pan?
Despite the initial excitement, NEIRO has faced accusations of insider activity. Analytics platform Lookonchain reported substantial gains by a developer who managed to buy 97.5 NEIRO tokens and subsequently sold them for SOL, netting a return of 5,169 times the original investment. Furthermore, the fragmented liquidity across various NEIRO versions complicates its stability and credibility. The biggest NEIRO token on Ethereum has already been flagged as a honeypot scam.
Market Skepticism: Can NEIRO Compete?
Skeptics argue that NEIRO lacks the potential to evolve into a billion-dollar entity like Dogecoin or Shiba Inu due to its limited cultural resonance. The dominance of the original Dogecoin meme coin could pose significant hurdles for NEIRO, making it difficult to capture and maintain a substantial user base.
Conclusion
Neiro’s debut in the meme coin universe has been nothing short of dramatic, sucking liquidity from other coins and amassing significant volume. However, prospective investors should heed Atsuko Sato’s warnings and consider the allegations of insider trading and fragmented liquidity. Whether NEIRO can cement itself alongside reigning meme coins like Dogecoin and Shiba Inu remains to be seen, but the initial buzz warrants careful scrutiny.
