NEIRO Memecoins are gaining popularity in the cryptocurrency market following kindergarten teacher Atsuko Sato’s announcement that her family had welcomed a new dog named “Neiro” after the passing of Kabosu, a famous Shiba Inu who died on May 24, 2024.
On July 27, Atsuko tweeted in Japanese that Neiro is a 10-year-old female who was previously a rescue dog. She also mentioned that Neiro means “the color of sound.”
Atsuko shared that Neiro-chan has faced many difficult and frightening experiences over the past decade, all of which were quite sad. However, she assured the community that only joy and enjoyment await Neiro from now on.
NEIRO memecoins surge in popularity
The recent exciting announcement has led to the creation of numerous memecoins, particularly on the Solana, Base, and Ethereum networks, all vying to become the next Dogecoin (DOGE).
According to DEXTools data, there have been a minimum of 24 memecoins named Neiro in the past 48 hours. Notably, most of these NEIRO memecoins have recorded trading volumes ranging from $500,000 to $260 million in the day alone.
Most of these coins have displayed positive performance, with some pairs showing gains as high as 4,000% in the past 24 hours. However, it’s not unexpected that many of these new memecoins have also experienced significant losses since their launch.
In particular, one Ethereum-based Neiro/WETH has seen the largest decrease, plummeting over 60% in the last 24 hours, with a 24-hour trading volume of $15.38 million.
Warnings of scams emerge in the NEIRO landscape
Numerous warnings about scams involving various Neiro memecoins have emerged following a significant influx in the blockchain space over the past 48 hours.
On July 28, independent blockchain investigator Wazz issued a public alert through his 30,000-follower-strong X handle, stating that the largest $NEIRO token on the Ethereum network is a honeypot.
A honeypot crypto scam is a deceptive scheme in which scammers create fake cryptocurrency tokens or smart contracts to entice unsuspecting users into investing funds.
These scams usually involve intricate designs that make the investment seem legitimate but ultimately allow the attackers to drain the victims’ cryptocurrency assets.
While another expert has not confirmed this claim at the time of writing, Wazz’s post underscores several apparent warning signs regarding the project.
Additionally, the adopter of the late Dogecoin’s Kabosu, Atsuko Sato, subsequently tweeted that she had observed many new tokens related to Kabosu and Neiro.
Source: @kabosumama on X
However, she clarified that she does not endorse any crypto project except “Own the Doge (DOG),” a multichain memecoin project, which she claims owns the original Doge photo and IP she gave them.
