The crypto community might be set to witness the birth of the next Dogecoin following a recent announcement made by the beloved Kabosu’s owner. This has led to the launch of several meme coins, with one in particular looking well-primed to join the ‘billion-dollar’ club.
Kabosu’s Owner Gets New Shiba Inu Dog
Kabosu’s owner (also known as Kabosu Mama) announced in an X (formerly Twitter) post that she had gotten a new Shiba Inu named “Neiro.” This immediately caught the crypto community’s attention, considering that Kabosu, who passed away in May, inspired the creation of the foremost meme coin, Dogecoin, and several other dog-themed meme coins.
Similarly, Kabosu Mama’s announcement of her new Shiba Inu immediately led to the launch of several ‘Neiro-themed’ meme coins. Hundreds of Neiro tokens were quickly deployed on the Solana chain through the token generator Pump Fun, with about of these tokens running to millions in market capitalization.
However, amidst all the noise and trading volume, the Neiro token on the Ethereum chain has stood out. It boasts the highest market capitalization among all Neiro-themed tokens across all chains. According to data from DEX Screener, the Neiro token on Ethereum currently has a market cap of around $109 million. Meanwhile, the highest-ranked Neiro token has a market cap of around $37 million.
Is Neiro The Next Dogecoin?
The ETH Neiro’s meteoric rise above the $100 million market cap has led to predictions that the meme coin could become the next Dogecoin. The crypto community seems to be leaning toward the narrative that Neiro is a replacement for Kabosu (which inspired Dogecoin) since the former was adopted after Kabosu’s death. Neiro is also considered a ‘sister’ to Kabosu, which is why it is believed that the Neiro token could replicate DOGE’s success.
In line with this, crypto analysts like Jake Gagain have suggested that the ETH Neiro could easily run to a $1 billion market cap and even higher. The ETH Neiro has also been declared the ‘clear winner’ among all the Neiro-themed tokens because of the saturation of Neiro tokens on the Solana chain.
This opens a clear path for the ETH Neiro to join the ‘billion-dollar’ meme club while liquidity is shared among the different Solana Neiro tokens. ETH Neiro has, however, suffered some FUD with the blockchain analytics tool Bubblemaps, which revealed that the token’s supply is heavily controlled, with 78% of the supply sniped at launch. However, ETH Neiro holders look undeterred by this, seeing how the meme coin hit a new all-time high (ATH) since then.
If ETH Neiro eventually attains a market cap of $1 billion, it will join Dogecoin, Shiba Inu (SHIB), Bonk (BONK), Dogwifhat (WIF), and Floki (FLOKI) as the only dog-themed meme coins to boast a billion-dollar market cap. Meanwhile, it will become only the third dog-themed token on Ethereum to achieve such status, joining Shiba Inu and FLOKI.
Featured image created with Dall.E, chart from Tradingview.com
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