The crypto world was set abuzz on July 28 when Kabosu’s owner introduced her new pet, a 10-year-old Shiba Inu named Neiro. Kabosu, who had passed away in May, was the beloved dog that inspired Dogecoin and kickstarted the trend of dog-themed memecoins like Shiba Inu and Floki Inu.
The arrival of Neiro sparked a frenzy among crypto enthusiasts, leading to the creation of Neiro-themed tokens on the Solana-based platform Pump.fun. One token quickly gained a market capitalization in the millions, but it was later discovered that another Neiro-inspired token had actually launched first. This caused a shift in investments between the two tokens, resulting in a combined trading volume exceeding $860 million.
Bubblemaps, a blockchain data platform, revealed that the developer of the more popular NEIRO token had earned over $5.4 million by strategically purchasing and selling the token as its popularity soared. In response to the chaos, @Kabosumama voiced her disapproval of these tokens and warned against potential scams in the crypto space.
This situation serves as a reminder of the risks associated with investing in new crypto projects and the importance of conducting thorough research. Meanwhile, the campaign to feature the Solana-based memecoin DogWifHat on the Las Vegas Sphere is gaining traction and is expected to succeed.
As the crypto world continues to evolve, it is crucial for investors to stay informed and vigilant to avoid falling victim to scams and fraudulent schemes. Stay tuned for more updates on the latest developments in the world of digital currencies.
